REB: Korea Real Estate Board

Name of statistics

Multi-Family House Actual Transaction Price Index

First year of preparation

(Sale) 2006, (Charter) 2014

Type of statistics

General & processed statistics

Legal Basis

• Approval No.: No. 116072
• Approval date: 12/21/2009
• Article 86 of the Housing Act and Article 118 of the Enforcement Decree of the same Act.

Purpose of Preparation

Statistics are generated using the price information of multi-family housing in countrywide stocks of apartment houses and tenement & multi-household houses. They are used to provide the public with accurate market trend information, and as a reference material when establishing government policies.

Preparation Cycle

Monthly

Subjects of preparation

Officetel

• (Sale)The actual transaction data of apartment houses and tenement & multi-household houses are reported to the heads of the corresponding si/gun/gu after concluding transaction contracts in accordance with Article 3 of the Act on the Reporting of Real Estate Transactions, etc.
• (Charter)Apartment house charter contract period in the fixed date report data (local government and the Supreme Court) to be submitted for protection under the Housing Lease Protection Act
• Based on the month of contract (Ex: (Sale) The data reported in January and February of 2012 and contracted in January 2012 are used as the index for January 2012. (Charter) The data reported in January, February and March of 2012 and contracted in January of 2012 are used as the index for January 2012.)
• Area of preparation (Sale)

  아파트 실거래가격지수 작성지역(매매)

  Category		Corresponding area
  Whole country(A,Y)		-
  Capital metropolitan areas(A,Y)		Seoul, Gyeonggi, and Incheon
  Region(A,Y)		Areas excluding capital metropolitan areas
  Capital metropolitan si/do (A,Y)		Seoul, Gyeonggi, and Incheon
  Seoul residential zones (A)	Downtown areas	Jongno-gu, Jung-gu, and Yongsan-gu
  	Northeast areas	Gangbuk-gu, Dobong-gu, Nowon-gu, Seongbuk-gu, Jungnang-gu, Dongdaemun-gu, Seongdong-gu, and Gwangjin-gu
  	Southeast areas	Seocho-gu, Gangnam-gu, Songpa-gu, and Gangdong-gu
  	Northwest areas	Eunpyeong-gu, Seodaemun-gu, and Mapo-gu
  	Southwest areas	Gangseo-gu, Yangcheon-gu, Yeongdeungpo-gu, Guro-gu, Geumcheon-gu, Dongjak-gu, Gwanak-gu
  Six metropolitan cities(A)		Busan, Daegu, Incheon, Gwangju, Daejeon, and Ulsan
  Sejong Metropolitan Autonomous City(A)		Sejong Metropolitan Autonomous City
  Nine provinces(A)		Gyeonggi, Gangwon, Chungbuk, Chungnam, Jeonbuk, Jeonnam, Gyeongbuk, Gyeongnam, and Jeju
  Si/gun/gu		Si/gun/gu of capital metropolitan areas and metropolitan cities
  Metropolitan cities(A,Y)		Integration of metropolitan cities
  Provincial metropolitan cities(A,Y)		Integration of Busan, Daegu, Gwangju, Daejeon, and Ulsan (metropolitan cities excluding Incheon)
  Regional provinces(A,Y)		Integration of eight provinces excluding Gyeonggi-do

• Area of preparation (Charter)

  아파트 실거래가격지수 작성지역(매매)

  Category		Corresponding area
  Whole country(A)		-
  Capital metropolitan areas(A)		Seoul, Gyeonggi, and Incheon
  Region(A)		Areas excluding capital metropolitan areas
  Si/do of capital metropolitan areas(A)		Seoul, Gyeonggi, and Incheon
  Seoul residential zones(A)	Downtown areas	Jongno-gu, Jung-gu, and Yongsan-gu
  	Northeast areas	Gangbuk-gu, Dobong-gu, Nowon-gu, Seongbuk-gu, Jungnang-gu, Dongdaemun-gu, Seongdong-gu, and Gwangjin-gu
  	Southeast areas	Seocho-gu, Gangnam-gu, Songpa-gu, and Gangdong-gu
  	Northwest areas	Eunpyeong-gu, Seodaemun-gu, and Mapo-gu
  	Southwest areas	Gangseo-gu, Yangcheon-gu, Yeongdeungpo-gu, Guro-gu, Geumcheon-gu, Dongjak-gu, Gwanak-gu
  Six metropolitan cities(A)		Busan, Daegu, Incheon, Gwangju, Daejeon, and Ulsan
  Sejong Metropolitan Autonomous City(A)		Sejong Metropolitan Autonomous City
  Nine provinces(A)		Gyeonggi, Gangwon, Chungbuk, Chungnam, Jeonbuk, Jeonnam, Gyeongbuk, Gyeongnam, and Jeju
  Si/gun/gu(A)		Si/gun/gu of capital metropolitan areas and metropolitan cities
  Metropolitan cities(A)		Integration of metropolitan cities
  Regional metropolitan cities(A)		Integration of Busan, Daegu, Gwangju, Daejeon, and Ulsan (metropolitan cities excluding Incheon)
  Regional provinces(A)		Integration of eight provinces excluding Gyeonggi-do

  (A): Apartment houses (Y): Tenement & multi-household houses

Method of preparation

• Statistics preparation model : Repetitive sale model
• Concept: The index is calculated based on price fluctuations and the trading volume of the same type of houses (apartment houses), of which the transactions are reported twice or more during the index calculation period.
• Equation
  
• Apartment houses which are the same in terms of complex, area, building, and floor group (1F and 2F / highest floor / middle floors) are taken to be the same type of houses (apartment houses).

Preparation System

• STEP01

  Actual transaction report

  (Local governments countrywide)

• STEP02

  Preparation of statistics

  (REB)

• STEP03

  Public announcement

  (REB)

Main history

• Dec. 21, 2009 : Approved preparation of statistics (No. 116072).
• Dec. 24, 2009 : First proclamation.
• Jan. 21, 2010 : Approved the amendment of statistics (addition of potential indexes).
• Jun. 22, 2010 : Approved the amendment of statistics (addition of indexes by scale).
• Feb. 9, 2011 : Approved the amendment of statistics (Amendment of proclamation date: 25th →15th)
  (Addition of proclamation areas: Region, six metropolitan cities, region, metropolitan cities, and regional provinces).
• Jan. 1, 2013 : Change of statics preparation agency (Ministry of Land, Transport and Maritime Affairs →REB).
• Mar. 19, 2015 : Approved the amendment of statistics.
  (Expansion of si/gun/gu of capital metropolitan areas and metropolitan cities for each quarter and amendment of abnormal value removal standard and index calculation method).
• Apr.15, 2016 : Approved the amendment of statistics (Addition of actual transaction price indexes of tenement & multi-household houses).
• Apr.25, 2017 : Approved the amendment of statistics (Addition of integrated actual transaction price indexes of multi-family houses).
• Jul. 15, 2017 : Additional generation of small-scale indexes not exceeding 40㎡and additional generation of actual transaction price indexes of tenement & multi-household houses in Seoul, Incheon, and Gyeonggi every month.
• Nov. 15, 2017 : Change of statics preparation agency (Ministry of Land, Transport and Maritime Affairs →REB).
• Nov. 22, 2018 : Approved the amendment of statistics (Addition of actual transaction price indexes of chartered apartment houses).
• Dec. 11, 2020 : Approved the amendment of statistics (Sale) Amendment of preparation time (3 months later →2 months later), (Charter) Addition of mean/middle prices by scale, (Monthly) Addition of actual transaction price indexes of each area, (Sale, charter, and monthly) Provision of effective transaction city series).
• Apr. 7, 2021 : Approved the amendment of statistics (Amendment of the first proclamation time of the actual monthly rental transaction price indexes [April 2021 →June 2022]).

Continuity

Continuous statistics