The sale price of APT. per 3.3㎡ in Seoul has fallen below 40 million won for the first time in five months.
According to the real estate PropTech corporation Zigbang on the 17th, the average sale price of APT.s per 3.3㎡ in Seoul last month was 39.96 million won, a decrease of 5.2% compared to the previous month.
APT.s in Seoul traded at an average of 39.87 million won last July (based on 3.3㎡) and continued to exceed an average sale price of 40 million won from August (40.11 million won) to December.
The decline in transaction prices in January is largely attributed to a decrease in high-priced sales and transactions centered around low-priced listings.
Zigbang noted, "Since the fourth quarter of last year, the impact of tightened lending, combined with early-year impeachment issues and external risk pressures, has led to a rapid cooling of the domestic housing market. As buying sentiment has frozen and transaction volume has decreased, it appears that the average sale transaction price has lowered due to transactions focused on low-priced listings and a reduction in the proportion of high-priced transactions."
By autonomous district, Seocho District saw the largest drop in average sale price, falling 12.6% from the previous month. The average price was formed at 87.42 million won in December last year, but in January, it traded at 76.39 million won, a decrease of 11.03 million won. The transaction volume was also recorded at 87 cases, a 40.4% decrease from the previous month, with transactions over 1.5 billion won accounting for 74.7%, a drop of 8.9 percentage points from the previous month.
In addition, the prices fell in Gangbuk District (-5.9%), Gwanak District (-5.6%), Eunpyeong District (-4.3%), and Gangseo District (-3.7%). On the other hand, areas where the average sale transaction price rose included Jongno District (31.0%), Seodaemun District (10.7%), Yeongdeungpo District (6.3%), Yongsan District (5.8%), and Dobong District (5.7%).
Looking at the transactions by area, the average sale price of APT.s exceeding 85㎡ has dropped to 50.68 million won per 3.3㎡, a decrease of 6.0% compared to the previous month. For APT.s of 60㎡ or less, the decrease was 2.8%, and for those between 60 and 85㎡, it was 4%.
Meanwhile, the transaction volume of APT.s in Seoul in January was 2,343 cases, the lowest in 13 months since December 2023 (1,789 cases).