"Minimal Impact of Land Transaction Permit System" as Buying Enthusiasm Remains... Permit Applications Near 10,000 [Real Estate AtoZ]

Land Transaction Permit Applications, Processing Volume, and Price Trends Released
7,777 Out of 9,935 Land Transaction Permit Applications Processed in December
Seoul Apartment Actual Transaction Prices Rise 1.28% in November

In order to address the information gap in the real estate market following the expansion of designated land transaction permit zones, the Seoul Metropolitan Government will release monthly data on land transaction applications based on actual transactions, actual transaction price indices, and market analysis reports. Last month, the number of land transaction permit applications increased by approximately 900 compared to the previous month, and the application prices rose by 1.58%.

Yonhap News Agency

Actual Transaction Reporting Takes Up to 50 Days... Providing Status of Land Transaction Permit Applications and Price Change Trends

According to the Seoul Metropolitan Government on January 18, a total of 9,935 apartment land transaction permit applications were submitted as of the end of December 2025, following the implementation of the land transaction permit system. Of these, 7,777 cases (78.3%) were processed. The number of monthly applications was as follows: 1,066 in October 2025, 3,981 in November, and 4,888 in December. The number of processed applications was 78 in October, 3,048 in November, and 4,651 in December. In December, the number of land transaction permit applications increased by 907 compared to the previous month, and the number of processed cases rose by 1,603.

An analysis of monthly land transaction permit application prices showed that, from October 20 to November 2025, the application prices increased by 1.49% compared to the actual transaction prices in October. For applications submitted in December, the prices rose by 1.58% compared to the previous month, indicating a greater increase.

Previously, it took up to 30 days to report an actual transaction after a sales contract was signed. However, due to the October 15 measures, an additional land transaction permit processing step was added before contract signing, extending the reporting period to up to 50 days. In land transaction permit zones, it can take up to 19 days from signing a preliminary sales agreement to submitting and processing the permit application, an average of 4.5 days from permit approval to signing the sales contract, and up to 30 days from contract signing to reporting the actual transaction. This information gap and the sharp decline in transaction volume have led to an "optical illusion" effect, further increasing market confusion.

To address this, the Seoul Metropolitan Government will analyze and provide the current status of land transaction permit applications and processing, as well as trends in application price changes for the current month. Land transaction permit applications must be submitted to the district office before signing a sales contract, and the contract must be signed at the approved price after the permit is granted. This structure allows for proactive monitoring of potential transaction volume and price trends before actual transaction reports are filed.

Seoul Apartment Data Extracted and Released from the Korea Real Estate Board Actual Transaction Price Index

The Seoul Metropolitan Government has decided to extract and organize relevant data on Seoul apartments from the "Apartment Actual Transaction Price Index," a national approved statistic compiled by the Korea Real Estate Board, and provide it monthly through press releases. Experts have pointed out that the "National Housing Price Trend Survey," which is based on sample price surveys, may reflect market prices or asking prices of certain regions or complexes, potentially leading to discrepancies with actual transaction prices.

The actual transaction price index for November was calculated by analyzing all transaction data for sales contracts signed between November 1 and 30, for which reporting was completed within 30 days of contract signing. The actual transaction price index is based on reported transaction prices, providing a more accurate reflection of real market trends than indices based on appraiser assessments or asking prices. Changes in contract terms during periods of price fluctuation are quickly reflected in the index.

The actual transaction prices for Seoul apartment sales released this month for November 2025 increased by 1.28% compared to the previous month (October 2025), and by 12.95% compared to the same month of the previous year (November 2024), marking a significant increase.

Seoul apartment actual transaction prices peaked in October 2021, declined until December 2022, but have generally been on an upward trend since then. As of November 2025, actual transaction prices were 1.3% higher than the October 2021 peak, slightly surpassing the previous record high.

Seoul Apartment Actual Transaction Prices and Rate of Change Over 5 Years. (Source: Korea Real Estate Board Apartment Actual Transaction Price Index, Apartment Sales Price Index). Provided by Seoul Metropolitan Government

By region, three living zones saw month-on-month increases: the central zone (3.46%), the southeast zone (1.82%), and the southwest zone (0.35%). The central zone led the overall index increase for Seoul. By size, large apartments (over 135 square meters of exclusive area) saw the highest increase at 2.07%, followed by small apartments (40 to 60 square meters or less) at 1.86%, and medium-small apartments (over 60 to 85 square meters or less) at 1.16%.

For apartment jeonse (long-term lease) transactions in November, all five living zones in Seoul recorded increases, with the overall city index rising by 0.94%. Among them, the southwest zone posted the highest increase at 1.09% compared to the previous month. By size, medium-small apartments saw the highest increase at 1.16%.

The city plans to analyze market trends by living zone, apartment size, and building age based on actual transaction data, and publish the results at the end of each month on the "Seoul Housing Information Plaza." Choi Jinseok, Director of Housing, stated, "We will continue to provide accurate, transaction-based market information to help alleviate excessive anxiety or vague expectations in the real estate market, enabling citizens to make rational decisions."