In the Seoul metropolitan area, transactions for apartments priced between 6 billion and 20 billion won have seen a rise in record-setting deals. Notably, over half of the transactions in the 15 billion to 20 billion won range have set new price records.
According to an analysis by Zigbang on August 10, the proportion of record transactions in the 15 billion to 20 billion won range for July was 53.8%, an increase of 5.9 percentage points from 47.9% a year ago, marking the highest proportion of record transactions among price ranges in the metropolitan area.
The proportion of record transactions significantly increased once prices exceeded 6 billion won. For the 6 billion to 9 billion won range, the proportion rose from 6.5% last year to 20.7%. In the 9 billion to 12 billion won range, it increased from 16.1% to 36.7%. The 12 billion to 15 billion won range saw the largest jump, from 23.4% to 47.0%, a rise of 23.6 percentage points.
Conversely, the proportion of record transactions for deals below 3 billion won decreased from 3.5% to 1.5%. The 3 billion to 6 billion won range saw a slight increase from 4.1% to 5.0%. In the price range exceeding 20 billion won, the proportion of record transactions actually declined.
The composition of transaction price ranges has also changed. The share of transactions below 3 billion won in the overall metropolitan area transactions decreased from 24.7% to 23.2%, while the 3 billion to 6 billion won range increased from 35.9% to 37.9%. The 9 billion to 12 billion won range rose from 8.2% to 8.9%, and the 12 billion to 15 billion won range increased from 4.1% to 5.0%.
In Seoul, the proportion of record transactions in the 15 billion to 20 billion won range was the highest at 48.7%. The 12 billion to 15 billion won range had a record transaction proportion of 46.4%, and the 9 billion to 12 billion won range was at 40.4%. The 6 billion to 9 billion won range also saw a significant increase from 9.4% to 28.1% over the past year.
In Gyeonggi Province, the proportion of record transactions in higher price ranges was even more pronounced. For the 12 billion to 15 billion won range, it was 48.4%, and for the 15 billion to 20 billion won range, it reached 62.8%. Although the share of transactions in the 15 billion to 20 billion won range was only 1.8%, record transactions were notably active in this price bracket.
In contrast, Incheon saw a concentration of transactions in the lower price range. Transactions below 3 billion won accounted for 47.9% of the total, while those in the 3 billion to 6 billion won range made up 42.2%, together comprising about 90% of all transactions. The proportion of record transactions was also lower than in Seoul and Gyeonggi, with 1.9% for those below 3 billion won, 1.8% for the 3 billion to 6 billion won range, and 3.5% for the 6 billion to 9 billion won range.
Zigbang analyzed that while some price ranges are trending upward, transactions exceeding 6 billion won are increasingly surpassing previous record prices. It noted that variations in transaction prices within the same range are influenced by factors such as location, age of the building, and preferences for specific complexes.
As the government continues to implement tax reforms and changes in financial regulations, attention is focused on whether these trends in transaction structures and record-setting deals will persist in the future.
Additionally, Zigbang reported on August 3 that the number of apartment units available for sale nationwide this month has increased by 58% compared to the same month last year, totaling 28,015 units. Approximately 80% of these units are located in the metropolitan area, with Gyeonggi Province accounting for the largest share at 10,626 units.
* This article has been translated by AI.
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