Apartment Sales in Seoul Plummet

Published on 2019/02/24 | Source

Apartment sales in Seoul hit their lowest level in about six years in February.

According to figures from a website run by the Seoul Metropolitan Government, some 582 transactions were made from Feb. 1 to 15. This translates to 38.8 sales per day, down 36 percent from the average transaction of 60.5 in January.

It is the lowest level since January 2013, when the figure was 38.6. The daily average was 408 as recently as September last year.

But the actual number of transactions may be lower than that, as the figures are not exact, since homebuyers have two months to report their purchase, meaning that the figures should exclude transactions actually made in December last year and January.