24-Ping Apartments Outselling 33-Ping Ones: The Era of 59㎡ 'National Standard' Arrives

Seoul's apartment market is witnessing a significant shift, challenging the long-held notion of the 84-square-meter unit as the 'national standard.' Chosun Ilbo reports that smaller, 59-square-meter apartments are increasingly dominating transactions, driven by a confluence of factors. Soaring housing prices and prolonged high-interest rates have made larger homes financially prohibitive for many potential buyers. Simultaneously, a growing trend towards single-person and two-person households in South Korea means that smaller living spaces are becoming more practical and desirable. This dynamic has led to a 'reversal phenomenon' in some complexes, where 59-square-meter apartments are now commanding higher prices than their larger 84-square-meter counterparts. This trend signifies a fundamental change in housing preferences and affordability constraints within the capital's competitive real estate landscape.