The national apartment auction market has shown signs of slowing down due to an increase in listings, while Seoul has experienced a contrasting trend with successful bids exceeding appraised values. Competition has intensified, particularly for small apartments, leading to a bid rate in Seoul that has surpassed 100% for three consecutive months.
According to the 'June 2026 Auction Trend Report' released on July 9 by the auction data firm Zigy Auction, the number of apartment auctions nationwide reached 3,701, a 16% increase from the previous month’s 3,204. This marks the highest level in 12 years and 3 months since March 2014, when there were 4,063 auctions.
However, auction indicators have shown some signs of decline. The national apartment bid rate fell to 33.5%, down 0.8 percentage points from 34.3% the previous month, while the bid price rate dropped from 87.3% to 86.9%, the lowest level in seven months since November of last year. The average number of bidders remained steady at 5.8.
In contrast, Seoul exhibited a different trend. The number of apartment auctions in Seoul rose to 150 in June, a 7% increase from 140 in May. The bid rate decreased to 34.0%, down 6.0 percentage points from 40.0% the previous month, marking the lowest level since December 2023. However, the bid price rate increased from 100.8% to 101.7%, continuing its upward trend for three months.
Small apartments have driven the strength of the auction market in Seoul. The bid price rate for apartments with a floor area of 60 square meters or less rose from 105.1% in April to 109.2% in May, and further to 112.8% in June. The average number of bidders increased from 5.9 to 7.2, intensifying competition.
In Gyeonggi Province, the number of auctions reached 841, a 21% increase from the previous month. The bid rate remained stable at 41.0%, but the bid price rate slightly decreased from 89.0% to 88.3%. However, in regulated areas such as Seongnam, Anyang, and Gwangmyeong, the average bid price rate exceeded 100%, indicating continued strength.
In Incheon, the number of auctions fell to 301, a 13% decrease from the previous month. Both the bid rate and bid price rate dropped to 31.9% and 78.2%, respectively. Regionally, Seo-gu and Yeonsu-gu recorded bid price rates in the 80% range, while Michuhol-gu remained in the 60% range.
In regional markets, significant disparities were evident. Ulsan's bid price rate rose to 94.7%, an increase of 6.1 percentage points, reaching its highest level since May 2022. Conversely, Gangwon's rate fell to 71.7%, a drop of 16.3 percentage points, the largest decline in the country. Daegu also saw a decrease, with a bid price rate of 81.1%, down 5.5 percentage points.
In June, the highest bid nationwide was for a single-family home in Itaewon-dong, Yongsan District, Seoul, which sold for 196.1 billion won, or 84.2% of its appraised value of 232.8 billion won. The most contested property was an apartment in Godeok-dong, Pyeongtaek, Gyeonggi Province, which attracted 36 bidders and sold for 8.8 billion won, or 108.7% of its appraised value.
Joo Hyun, a senior researcher at Zigy Auction, stated, "The auction market is being reshaped around actual demand. Interest has concentrated on small apartments at relatively accessible price points, leading to an increase in bid price rates." He added that while Seoul continues to show strength, there is a noticeable differentiation in demand in regions with well-developed living infrastructure.
* This article has been translated by AI.
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