National real estate transactions have decreased for five consecutive months, reaching their lowest level since January 2025. In Seoul, apartment transactions fell by 39.7% from the previous month, marking the largest decline among major cities.
Real Estate Planet released a report on October 13 analyzing data from the Ministry of Land, Infrastructure and Transport, detailing the national real estate market trends for August 2026. According to the report, the total number of real estate transactions nationwide in August was 72,976, a 14.3% decrease from the previous month. The total transaction value also dropped to 28.8532 trillion won, down 23.1%, marking a second consecutive month of decline.
Among nine types of real estate, only commercial and office properties saw an increase in transaction volume, rising by 23.5% to 3,139 transactions. In contrast, transactions for factories and warehouses fell by 21.8%, apartments by 20.0%, and commercial and office buildings by 17.1%. Transactions for officetels and multi-family homes also decreased by 13.4% and 12.9%, respectively.
The slowdown in the apartment market was particularly pronounced in Seoul. The number of apartment transactions nationwide in August was 33,546, down 20.0% from 41,914 in July. The transaction value also fell to 16.0028 trillion won, a 28.3% decrease from 22.3282 trillion won the previous month. However, compared to the same month last year, transaction volume decreased by 0.7%, while transaction value increased by 2.7%.
All regions except Sejong experienced a decline in apartment transactions. Sejong saw a slight increase to 306 transactions, up 4.4% from the previous month, while Seoul recorded 3,529 transactions, down 39.7% from 5,855. Other regions with significant declines included Ulsan (-27.5%), Gwangju (-23.0%), and Gyeonggi Province (-22.5%).
Transaction values also fell in all regions except Sejong. In Seoul, the transaction value dropped to 3.9729 trillion won, down 40.5% from 6.6786 trillion won the previous month. Ulsan (-39.3%), Gyeonggi (-28.8%), and Gwangju (-25.6%) followed suit. Sejong's transaction value increased by 7.9% to 160.9 billion won.
Officetel transactions decreased by 13.4% to 2,905, with a transaction value of 683.5 billion won, down 28.0%. Compared to the same month last year, transaction volume fell by 3.4%, but transaction value rose by 7.6%.
Regionally, Chungbuk recorded the highest increase in transaction volume, rising 315.4% to 108 transactions from 26 the previous month. Gangwon also saw a 126.9% increase with 59 transactions. Conversely, Gyeonggi experienced the largest decline, with 1,015 transactions, down 34.2%.
In terms of transaction value, Gangwon increased to 13.3 billion won, up 461.4%, while Chungbuk also saw a significant rise of 168.1%. In contrast, Gyeonggi's transaction value fell by 46.2% to 283.3 billion won, with Jeju (-36.5%) and Daejeon (-19.9%) also experiencing declines.
The commercial and office market showed mixed results, with transaction volume increasing by 23.5% to 3,139, while transaction value plummeted by 61.8% to 723.5 billion won. Compared to the same month last year, transaction volume decreased by 2.4%, and transaction value fell by 36.4%.
Regionally, Gwangju saw a 347.8% increase in transaction volume to 309, while Busan and Seoul also reported increases of 121.2% and 70.2%, respectively. However, transaction value in Gwangju rose to 41.1 billion won, up 114.0%, while Seoul's value dropped by 81.7% to 48.7 billion won. Ulsan and Jeonbuk also saw declines of 91.1% and 86.7%, respectively.
Jung Soo-min, CEO of Real Estate Planet, stated, “In August, the national real estate market saw declines in both transaction volume and value across major categories, with the apartment sector in Seoul experiencing the most significant drop. Factors such as interest rate burdens, lending regulations, and tax reforms are influencing the market, suggesting that future demand for transactions will become more selective based on location and asset type.”
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.