The sale prices of apartments in South Korea are increasing due to rising construction costs, loan interests, and the lifting of the sale price cap. The increase in demand for newly built apartments is also contributing to higher prices. Construction companies are offering more expensive options, but buyers should carefully consider the location, transportation, and educational environment before purchasing. While some hope for a lottery-like situation of lower prices, it is unlikely, and buyers must be cautious of sky-high prices.
Here are the key facts extracted from the text:
1. Apartment sale prices have significantly increased in recent years.
2. The average price of apartments sold from January to April this year is 16.99 million won per 3.3 square meters.
3. This represents an 11.7% increase compared to the previous year and a 62% increase compared to 2016.
4. Smaller apartments, such as those below 60 square meters, have seen a 21% increase in prices compared to the previous year.
5. Inflation, rising interest rates, and the removal of price caps have contributed to the increase in apartment sale prices.
6. Options for apartments, such as expandable verandas and system air conditioners, have become more expensive.
7. Buyers need to carefully consider location, transportation, educational environment, and whether it's a newly built apartment.
8. The article suggests that expecting lottery-like sales with extremely low prices is not realistic in the current market.
These facts provide an overview of the factors influencing apartment sale prices and considerations for potential buyers.