The average presale price for private-sector apartments in South Korea’s capital area surpassed 15 million won per square meter in August for the first time since the data series began in 2021. Real House’s analysis of Korea Real Estate Board subscription-portal data put the 12-month moving average at 15.05 million won per square meter, or 49.76 million won per 3.3 square meters, up 1.23% from July and 20.16% from a year earlier. Seoul and Incheon drove the increase, while Gyeonggi declined. Seoul’s average reached a record 24.68 million won per square meter, and Incheon posted the largest monthly gain among the country’s 17 metropolitan cities and provinces. The average price of a 59-square-meter unit rose to 920.33 million won in the capital area and 1.59 billion won in Seoul, where it remained above 1.5 billion won for a fourth consecutive month. Nationwide, the average presale price fell 0.16% month on month to 8.62 million won per square meter but increased 11.36% annually. The national average for 84-square-meter units declined 0.48% to 714.76 million won. New private-apartment supply fell 38.0% to 8,092 units across 15 complexes, with 79.0% concentrated in the capital area. Real House said expanded government support for housing project financing following the Aug. 13 measures could improve capital-area supply, although high land and construction costs may limit price declines.