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The average sale price of apartments in Seoul has doubled in just six years The average sale price of apartments in Seoul has doubled in just six years. Rising costs of raw materials and labor, coupled with shifts in the real estate market, have driven this sharp increase. In this blog, we will analyze the reasons behind the rapid rise in Seoul apartment prices and discuss what we can expect moving forward. The recent surge in Seoul apartment prices has dramatically impacted the housing market. According to data from the Korea Housing & Urban Guarantee Corporation (HUG), the average sale price per 3.3㎡ (1 pyeong) of private apartments in Seoul reached 44,017,000 KRW in July, marking a 100.8% increase from 21,921,000 KRW in February 2018. This means the price has doubled in just 6 years and 5 months. This upward trend is not limited to Seoul alone. The greater Seoul area saw an 81.8% increase, and the nationwide average rose by 80.0%, indicating that areas outside Seoul also experie...

The supply of new villas in Seoul has sharply declined, raising concerns about the future of affordable housing for the city's residents The supply of new villas in Seoul has sharply declined, raising concerns about the future of affordable housing for the city's residents. Factors such as rental fraud and rising construction costs have led to a 60% decrease in new villa supply compared to last year. This article explores the changes in the housing environment, the government's response, and the potential risks involved. Recently, the supply of new villas in Seoul has significantly decreased, impacting the housing options available to the city's residents. In the first half of this year, only 3,098 new villas were built in Seoul, representing a 61% drop compared to the same period last year. During the boom years of 2021 and 2022, over 10,000 villas were supplied annually. This sharp decline is largely due to the effects of rental fraud and the reversal of housing price...