Seoul apartment auctions showed both declining supply and a rising winning-bid-to-appraisal ratio from January through August 2026. The number of auctions fell to 1,614, compared with 2,812 in 2024 and 2,283 in 2025. By contrast, the winning-bid-to-appraisal ratio rose to 98.4%, up from 88.4% in 2024 and 93.6% in 2025.

Key changes

The winning-bid rate for Seoul apartments was 36.4%, lower than the 38.2% recorded during the same period in 2025. In other words, fewer properties came to auction, but the prices achieved by successful bids were higher relative to their appraised values.

The number of auctions, winning-bid rate, and winning-bid-to-appraisal ratio are different indicators. It is therefore difficult to determine the direction of the overall market based only on declining volume and a rising winning-bid ratio.

Current status

Nationwide apartment auctions totaled 28,885 during the same period, up 4.7% from a year earlier and the highest January–August figure since 2013. Seoul apartments and apartments nationwide thus followed different patterns.

Weekly figures show that 45 Seoul apartment auctions were in progress from August 18 to 21, 2026. The winning-bid rate was 40.0%, while the winning-bid-to-appraisal ratio was 98.6%. The average number of bidders rose from 5.4 the previous week to 6.1.

In July 2026, the winning-bid-to-appraisal ratio for Seoul apartments exceeded 100% for the fourth consecutive month, reaching 101.0%. The number of auctions in progress was 180, up 20% from the previous month.

Impact

Bids exceeding appraised values were observed for some mid- to lower-priced properties and properties in preferred locations. In the third week of August, Sindonga Apartments in Yongdu-dong, Dongdaemun-gu, received 17 bids. It sold for KRW 903.99 million against an appraisal of KRW 685 million, recording a winning-bid-to-appraisal ratio of 132.0%. Daelim Apartments in Sangdo-dong, Dongjak-gu, also sold for KRW 893.52 million—about KRW 160 million above its KRW 731 million appraisal—for a ratio of 122.2%.

In July, the 46.3-square-meter unit at Munjeong Shiyoung in Munjeong-dong, Songpa-gu, sold for KRW 1.312 billion, or 164.0% of its KRW 800 million appraisal. Conversely, the data indicate that auction results diverged between large, high-priced complexes and mid- to lower-priced complexes.

Seoul’s general home-sales market did not move uniformly in the same direction either. According to a KB Real Estate survey, Seoul apartment prices rose 1.14% month over month in August 2026. The rates of increase were relatively higher in northern Seoul, including Jungnang-gu at 2.25%, Seongbuk-gu at 2.08%, and Nowon-gu at 1.95%.

Auctions of row houses and multi-unit homes in Seoul followed a different pattern from apartments. From January through August 2026, the number of auctions reached 14,431, up 45% from the same period a year earlier, while the winning-bid-to-appraisal ratio was 74.9%.

Individual auction outcomes can vary depending on title and lien issues, possession and eviction matters, loan conditions, and the timing of the appraisal. Cases in which bids exceed appraised values should therefore not be generalized as evidence that Seoul’s entire auction market is overheated or that they guarantee investment returns.

What to check next

Going forward, it will be necessary to review Seoul apartment auction volume, winning-bid rates, and winning-bid-to-appraisal ratios while distinguishing between monthly, weekly, and cumulative statistics. When examining an individual property, users should verify the case, property, auction date, and result through the Supreme Court of Korea’s Court Auction Information System.

Sources and verification time:

  • Kyunghyang Shinmun, report published September 2, 2026, at 06:00: https://www.khan.co.kr/article/202609020600091/amp
  • MoneyToday, report published August 6, 2026, at 09:56: https://www.mt.co.kr/estate/2026/08/06/2026080609381862759
  • The Fact, report published August 22, 2026, at 17:45: https://news.tf.co.kr/read/economy/2356813.htm
  • Financial News and Yonhap News Agency, report published August 23, 2026, at 13:48: https://www.fnnews.com/news/202608231348002925
  • Supreme Court of Korea Court Auction Information System: https://www.courtauction.go.kr/
  • Information verified: September 2, 2026, 04:46 UTC