
GG Auction’s October auction trend report… Seoul apartment success rate is lowest in 3 years and 6 months
AI-generated summary
According to the October auction trend report released by GG Auction, the number of apartment auctions nationwide was 3,851, an increase of 13.1% from the previous month. This is the highest figure in 12 years and 7 months since March 2014.
Last month, apartment auctions nationwide were the highest in 12 years and 7 months.
In Seoul, the successful bid rate (ratio of successful bid price to appraised price) recovered to 100%, showing clear differences by price range.
According to the October auction trend report released by GG Auction, a company specializing in auction and public auction data, on the 5th, the number of apartment auctions nationwide was 3,851, a 13.1% increase from the previous month (3,405).
It was the highest number in 12 years and 7 months since March 2014 (4,063 cases).
While the backlog of auction items continued, it was analyzed that the number of cases in Gwangju, Jeollanam-do (119 cases) and Daegu (110 cases) increased significantly.
However, the auction indicators deteriorated somewhat, with the successful bid rate (33.9%) falling by 1.5%p and the winning bid rate (85.2%) by 0.7%p compared to the previous month.
By region, the apartment success rate in Seoul was 21.8%, a 13.5% point drop from the previous month, marking the lowest level in 3 years and 6 months since April 2023 (19.0%).
The winning bid rate rose 5.4 percentage points to 100.1%, recovering 100% in three months.
By price range, the success rate for ultra-high-priced apartments with an appraised value of KRW 2.5 billion or more was only 97.1%, while for apartments under KRW 1.5 billion, the rate was 103.6%, showing a clear difference.
The highest bid in the country was the Irum Tower shopping complex (2,557.1 m2 of land) located in Daehyeon-dong, Seodaemun-gu, Seoul, and was priced at 28.11 billion won, 66.7% of the appraised value (42.163 billion won).
The number of auctions for business and commercial facilities nationwide in October was 8,504, a slight increase (1.0%) from the previous month.
The success rate increased by 1.4 percentage points to 21.0%.
The winning bid rate fell by 4.6 percentage points to 45.6%, the lowest in 10 years and 2 months since August 2016 (44.9%).

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