The apartment auction market in the Seoul metropolitan area is showing mixed trends, with rising bid rates and falling winning bid ratios, highlighting significant regional disparities.
According to the auction platform Gigi Auction, an analysis of the apartment auction trends in the metropolitan area for the fourth week of April 2026 (April 20-24) revealed that the number of auctions conducted decreased by about 8% to 366 from the previous week’s 397, although it has remained above 300 for three consecutive weeks.
The bid rate rose to 39.3%, up 6.3 percentage points from the previous week’s 33.0%. However, the winning bid ratio fell to 85.0%, down 8.6 percentage points from 93.6% the previous week, marking the first time in six weeks it dropped below 90%. The average number of bidders remained steady at 5.6.
In Seoul, while the bid rate surged significantly, prices declined, reflecting a simultaneous trend of concentrated transactions and price adjustments. The bid rate for Seoul apartments soared to 80.0%, a dramatic increase of 32.8 percentage points from the previous week’s 47.2%, attributed to a decrease in the number of auctions.
Conversely, the winning bid ratio fell to 89.5%, down 18.3 percentage points from 107.8% the previous week, reaching its lowest point this year. Properties with lower demand, such as those in less desirable complexes, remained around the 70% range, pulling down the overall figures.
However, the 'Singil Xi' apartment in Yeongdeungpo-gu, priced below 1.5 billion won, recorded a winning bid ratio of 109.1%. High-end complexes in Gangnam, such as 'Banpo Xi,' maintained an average winning bid ratio above 105%. The average number of bidders decreased to 5.9, the lowest in four weeks, down from 7.0.
In Incheon, both the bid rate and winning bid ratio saw slight declines, but the number of bidders surged, indicating increased competition. The bid rate for Incheon apartments fell to 21.9%, down 3.9 percentage points from 25.8% the previous week, while the winning bid ratio decreased to 79.0%, down 0.6 percentage points from 79.6%.
In contrast, the average number of bidders rose significantly to 6.7, the highest in ten weeks, up from 4.0 the previous week. Notably, small apartments near the Yeonsu-dong station attracted 20 bidders, demonstrating high competition.
Gyeonggi Province exhibited a simultaneous rise in bid rates and a decline in winning bid ratios, maintaining a relatively stable trend. The bid rate for Gyeonggi apartments increased to 42.0%, up 9.2 percentage points from 32.8% the previous week, while the winning bid ratio fell to 83.4%, down 3.6 percentage points from 87.0%.
Areas in Gyeonggi Province, such as Gwonseon-gu in Suwon, Gwangju, and Cheoin-gu in Yongin, showed strong demand with high winning bid ratios. The average number of bidders remained consistent at 5.3.
* This article has been translated by AI.
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