Seoul's apartment winning bid ratio rose for a third consecutive month, with small apartments—less affected by lending regulations—leading the climb as their ratio approached 113%.
According to GG Auction's "June Auction Trend Report" released on the 9th, the number of Seoul apartment auctions held last month reached 150, up about 7% from 140 the previous month. The successful auction rate fell to 34.0%, down 6.0 percentage points from 40.0% the previous month, marking the lowest level in two years and six months.
The winning bid ratio rose 0.9 percentage points from the previous month to 101.7%, extending its gains to three straight months. The average number of bidders also increased by 1.3 to 7.2, up from 5.9 the previous month. In particular, the winning bid ratio for small apartments of 60 square meters or less in exclusive area—which carry relatively lower price burdens—rose sharply, recording 105.1% in April, 109.2% in May, and 112.8% in June. In fact, a small apartment of 65.4 square meters in exclusive area in Geumho-dong, Seongdong-gu, Seoul, drew 33 bidders in June, pushing the winning bid to 1.53382 billion won, or 143.4% of its appraised value of 1.07 billion won.
In Gyeonggi Province, 841 apartment auctions were held, up about 21% from 694 the previous month. Auction listings rose significantly centered on Uijeongbu and Pyeongtaek, while the successful auction rate stood at 41.0%, similar to 41.1% the previous month. The winning bid ratio was 88.3%, down 0.7 percentage points from 89.0% the previous month, but regulated areas such as Seongnam, Dongan-gu in Anyang, and Gwangmyeong continued to show strength with average winning bid ratios exceeding 100%. The average number of bidders was 6.6, up 0.4 from 6.2 the previous month.
In Incheon, 301 auctions were held, with the winning bid ratio at 78.2%, down 1.6 percentage points from the previous month. Seo-gu and Yeonsu-gu recorded successful auction rates in the 80% range, but Michuhol-gu came in at the 60% range, dragging down the winning bid ratio.
In provincial areas, the winning bid ratio for Ulsan apartments reached 94.7%, surging 6.1 percentage points from the previous month. It was the highest level in four years and one month since May 2022. Gwangju and Daejeon also rose to 81.1% and 81.9%, up 1.2 percentage points and 0.6 percentage points, respectively. Daegu (81.1%) and Busan (83.7%) fell 5.5 percentage points and 0.1 percentage points, respectively, from the previous month.
The number of apartment auctions held nationwide reached 3,701, up about 16% from the previous month, marking the highest number of auctions held in 12 years and three months since March 2014, when there were 4,063. The increase came as auction listings rose sharply, centered on provincial apartments.
The highest winning bid nationwide in June was a detached house located in Itaewon-dong, Yongsan-gu, Seoul, which sold for 19.61 billion won, or 84.2% of its appraised value of 23.28869 billion won. The property with the most bidders in June was a 93.1-square-meter apartment in exclusive area in Godeok-dong, Pyeongtaek, Gyeonggi Province, which drew 36 bidders and found a new owner at 882.7 million won, or 108.7% of its appraised value of 812 million won.
