An apartment in Seoul with a precious body … Auction price rate of 111.8%, an all-time high

In the real estate auction market last month, the ratio of the successful bid price of Seoul apartments to the estimated price was analyzed at 111.8%, auction information firm Jiji Auction announced on 9 September. If the appraiser price for an apartment auctioned by the court was 100 million won, it means that the average price of the successful bid was 111.8 million won. Jiji Auction explained that the ratio of positive bid price to estimated price last month was the highest in 19 years and 9 months since January 2001.

Last month, 59 apartments appeared on the auction market in Seoul. He has been under 60 cases for 4 consecutive months since last July. Compared to the average of last year’s monthly auctions (89), it has decreased by over 30%. Generally, when house prices rise in the housing market, auction items go down. This is because from the owner’s point of view, closing a deal through a brokerage can get a higher price than passing it to a judicial auction.

The successful bid rate for apartments in Seoul has exceeded 70% since July. For example, if 10 apartments were sold at a judicial auction, it means that more than 7 families have found a new owner. On the 12th of last month, the Acroville (exclusive area of ​​190 m2) in Bangi-dong, Songpa-gu, received 1.95 billion won. The price of the successful offer of this apartment exceeded the estimated price (1.295 million won) by more than 50%. In terms of the price ratio of the successful bid to the estimated price, last month it ranked # 1 among items at the Seoul apartment auction.

The new Seoul apartment (51 m2 for exclusive use) in Sillim-dong, Gwanak-gu also met a new owner at a high price. As a result of the competition of nine bidders, it was sold for 410 million won. Compared to the estimated price (31 million won), the price rate of the successful offer was 136%. The Tower Palace in Dogok-dong, Gangnam-gu, which went out at auction on the 13th of last month, was taken by a person who paid the highest price of 2.8688 million won among the five bidders. The price ratio of the successful offer was 127% of the estimated price (2.21 billion won). Considering that the actual transaction was reported that an apartment in the same area was sold for 2.7 billion won in a general transaction other than a judicial auction in early July, that’s over 100 million won.

Jiji Auction Team Manager Jang Geun-suk said: “(Auction participants) are paying more money than connoisseurs in anticipation that Seoul apartment prices (prices) will rise further.” Kang Eun-hyun, CEO of EH Research Institute, said: “Customers looking for” a smart “are thronged to the auction market.”

Reporter Yeom Ji-hyun [email protected]