Seoul Mid-Sized Officetel Transactions Hit 1-Year High Amid Rising Apartment Prices
Purchasers in Seoul bought 163 residential units measuring over 40 square meters in September, accounting for 28.1% of the total 581 individual purchases recorded that month, according to real estate platform Zigbang data analyzed by fnnews.co.kr. That share marks a 5.3 percentage point increase from 22.8% in September of last year, hitting the highest level recorded over a recent 12-month window. Across the entire country, individual purchases of officetels exceeding 40 square meters accounted for 38.4% in September, rising 3.3 percentage points from 35.1% in the same month of the previous year.
Trading Volumes Diverge Across Floor Areas
The rise in mid-sized purchases ran counter to a sharp contraction in overall market volume. Total individual purchases of Seoul officetels dropped 21.6% over the same period, sliding from 741 transactions down to 581. Within that shrinking pool, units sized between 40 and 60 square meters managed an 8.9% increase, climbing from 90 transactions to 98. Their share of the total market expanded from 12.1% to 16.9%. Mid-sized units spanning 60 to 85 square meters also grew, ticking up from 5.9% to 7.1% of transactions year-over-year.
Smaller formats experienced the opposite trajectory. Studio and small units measuring 20 to 30 square meters dropped from 44.0% down to 38.4% of all transactions. Large properties exceeding 85 square meters similarly declined from 4.7% to 4.1% of the market.
Market Pressures Push Buyers Toward Alternatives
Soaring prices for mid- and low-priced apartments alongside shrinking lease inventory drove buyers toward two-room and three-room officetels capable of accommodating direct residency, fnnews.co.kr reported. That shift helped lift prices. Korea Real Estate Board figures for the third quarter of 2026 show Seoul officetel prices rose 0.07% from the previous quarter, reversing prior declines.
Kim Eun-sun, big data lab lead at Zigbang, noted recent Seoul apartment prices are causing housing cost pressures to continuously grow, and accordingly, even in the officetel market, interest and buying momentum from demanders is highly likely to continue for a considerable time toward mid-sized floor area formats equipped with actual habitation functions rather than simple rental profit-oriented micro-sized products
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