Nationwide Real Estate Transactions Hit 21-Month Low in August

Retail stores and offices were the only category to post an increase
Apartment transaction volume down 20% month over month
Seoul sees the steepest decline in apartment transactions

Nationwide real estate transactions continued to decline for the fifth consecutive month in August, reaching their lowest level in one year and nine months.

Monthly nationwide real estate transaction volume, 2021-2026. Real Estate Planet.

According to Real Estate Planet on October 13, nationwide real estate transactions totaled 72,976 in August, down 6.9% from the same month a year earlier. This was the lowest level since January 2025. The total transaction value fell 23.1% from 37.5174 trillion won in July to 28.8532 trillion won in August, marking a second consecutive monthly decline, but was up 3.1% from the same month a year earlier.

By property type, only commercial buildings and offices recorded an increase in transaction volume from the previous month among the nine categories. Most other types, including apartments, saw declines in both transaction volume and value.

Transactions of commercial buildings and offices rose 23.5%, from 2,541 to 3,139, making them the only one of the nine categories to post an increase. By contrast, transactions of factories, warehouses, and other multi-unit properties fell 21.8%, from 349 to 273. The remaining categories followed, in order of the size of their declines: apartments (33,546, down 20%), commercial and office buildings (864, down 17.1%), factories, warehouses, and other general properties (387, down 14.9%), officetels (2,905, down 13.4%), row houses and multi-family homes (6,551, down 12.9%), detached and multi-unit houses (2,653, down 10.1%), and land (22,658, down 9.5%).

During the same period, nationwide apartment transactions totaled 33,546, down 20% from the previous month and 0.7% from the same month a year earlier. The total transaction value was 16.0028 trillion won, down 28.3% from the previous month but up 2.7% from the same month a year earlier. Sejong was the only area where apartment transaction volume increased from the previous month.

Jung Sumin, CEO of Real Estate Planet, said, "Among apartments in August, Seoul saw the steepest decline." He added, "With interest costs, lending restrictions, and tax reforms acting as variables, homebuying demand is likely to become even more selective going forward."

This content was produced with the assistance of AI translation services.