The average sale price of a private apartment with an exclusive area of 59㎡ in Seoul has exceeded 1.5 billion won. This is nearly three times the national average.

According to an analysis based on data from the Korea Real Estate Board's subscription home portal by Realhouse, a specialized pre-sale evaluation company, the average sale price of a 59㎡ private apartment nationwide stood at 530.72 million won as of July (12-month moving average). During the same period, the average sale price for the same unit size in Seoul recorded 1.56257 billion won, significantly exceeding the national average.

The sale price of 59㎡ apartments in Seoul rose 3.90% month-on-month and 26.7% year-on-year. In Gyeonggi Province, the same unit size was priced at 676.83 million won, recording a 0.11% increase month-on-month and a 10.7% increase year-on-year.

Price per ㎡ Also Hits Record High… Rises for Three Consecutive Months

The national private apartment sale price continued its upward trend for the third consecutive month, setting a new all-time high since the survey began in 2021. In July, the average sale price of private apartments nationwide based on exclusive area was 8.64 million won per ㎡, up 0.72% from the previous month (8.58 million won). This represents a 9.59% increase compared to the same month last year (7.88 million won).

The Seoul metropolitan area led the upward trend. The average sale price per ㎡ in Seoul was 24.22 million won, up 24.16% from a year ago. Gyeonggi Province recorded 11.41 million won per ㎡, up 1.05% month-on-month and 18.57% year-on-year.

In non-metropolitan areas, South Chungcheong Province (5.83 million won, up 2.12%), Gangwon Province (6.23 million won, up 0.91%), and South Gyeongsang Province (7 million won, up 0.52%) showed relatively high rates of increase.

Trends in 84㎡ 'National Standard' Apartment Sale Prices

By housing type, the national average sale price for 84㎡ units, commonly referred to as the 'national standard' size, was 718.2 million won. While this represents a 0.41% decline from the previous month, it marks a 7.25% increase compared to the same month last year (669.62 million won).

In Seoul, the average sale price for an 84㎡ unit was 1.90872 billion won, down 2.33% month-on-month but up 13.1% year-on-year. Gyeonggi Province recorded 950.25 million won, up 1.3% month-on-month and 18.6% year-on-year.

New Supply Declines… Seoul Sees Only 207 Units

In contrast to rising sale prices, new supply volume decreased. Last month, 24 complexes totaling 13,059 units were newly supplied nationwide, a 14.0% decrease from the previous month (15,182 units).

A significant portion of the supply was concentrated in Gyeonggi Province (6,779 units) and South Gyeongsang Province (2,869 units), together accounting for approximately 74% of the total. Meanwhile, Seoul saw only 207 units, and Incheon had no new apartment launches at all in July.

Kim Sun-ah, head of the pre-sale analysis team at Realhouse, explained, "With the recent tax revision resulting in different holding tax burdens depending on whether the owner actually resides in the property, pre-sale consumers now need to consider not only the sale price but also the costs of holding the property after moving in." She added, "Accordingly, plans for actual residence will become an even more important variable when applying for subscriptions."