🏠 Price Per Pyeong Calculator

Calculate price per pyeong from total price and area.

Price per Pyeong

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Price per ㎡ —

Price Per Pyeong Info

Price per pyeong = Total price ÷ Pyeong
Useful for comparing real estate prices.

GUIDE

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Importance and Usage of Price Per Pyeong Calculation

Price per pyeong is the unit price per area of real estate, a key metric for fair comparison across different sizes. Formula: Price per pyeong = Total price ÷ Exclusive area (pyeong). Example: Total 600M KRW, exclusive 30 pyeong → Price per pyeong 20M KRW (600M÷30). Uses: ① Compare different sizes in same complex, ② Analyze price competitiveness, ③ Judge market value, ④ Evaluate investment value. Important: Use exclusive area for accurate calculation. Using supply area distorts the price lower.

Comparing Prices by Region and Complex

Same region comparison: Seoul Gangnam A apartment (45M KRW per pyeong) vs B apartment (42M KRW per pyeong) → 3M KRW difference per pyeong. For 30 pyeong, total difference is 90M KRW (3M×30). Differences come from: ① Location (near vs far from station), ② Building age (new vs old), ③ Brand (major vs small builder), ④ Complex size (large vs small), ⑤ Floor, direction, layout. Regional comparison: Seoul Gangnam (50M/pyeong) vs Gyeonggi Bundang (30M/pyeong) vs Incheon (20M/pyeong). For 30 pyeong: Gangnam 1.5B KRW, Bundang 900M KRW, Incheon 600M KRW.

Evaluating Real Estate Value by Price Per Pyeong

Fair price judgment: If nearby complex average is 25M KRW per pyeong and specific unit is 30M KRW, it is 20% higher. Check for premium factors (low floor preference, south-facing, remodeling). If 22M KRW, it is 12% cheaper - check for urgent sale or defects. Price ceiling comparison: Price-capped complexes have government-recognized fair price per pyeong. 2024 Seoul area average ceiling 28M KRW per pyeong. Within ±10% of market = fair, +20% or more = overpriced, -20% or more = urgent sale or defect suspected.

Price Difference Between Apartments and Villas

Apartments have higher prices due to elevators, management systems, and large-complex facilities. Same area: apartment 25M KRW per pyeong, villa 15M KRW per pyeong → about 1.7× difference. For 30 pyeong: apartment 750M KRW, villa 450M KRW. Why villas are cheaper: ① No elevator (4-5 floors), ② Low maintenance but poor management, ③ Insufficient parking, ④ Low redevelopment possibility, ⑤ Lower loan limits (LTV 40% vs apartment 50-60%). Officetels are 10-30% cheaper per pyeong than apartments even for residential use.

Price Trend Analysis and Market Outlook

Seoul apartment prices past 5 years: 2019 22M KRW → 2020 25M KRW (+13.6%) → 2021 32M KRW (+28%) → 2022 35M KRW (+9.4%) → 2023 33M KRW (-5.7%) → 2024 34M KRW (+3%). After 2021 surge, adjustment followed by gradual 2024 rise. Regional trends: Gangnam 3 districts 50~70M KRW, Gangbuk 25~35M KRW, Gyeonggi 18~30M KRW, provinces 10~20M KRW. 2026 outlook: ① Interest rate cuts → 5-10% increase, ② Rate hold → stable, ③ Low-supply areas continue rising, ④ Oversupply areas weak.

Using Price Per Pyeong for Investment ROI

ROI calculation: Purchase at 20M KRW per pyeong (total 600M, 30 pyeong) → 3 years later 24M KRW per pyeong (total 720M) → Profit 120M KRW. ROI = (120M÷600M)×100 = 20%. Annual average 6.3%. After taxes and fees, actual ROI about 12-15%. Jeonse gap investment: Purchase 20M/pyeong (600M), jeonse 14M/pyeong (420M) → Gap 180M KRW. Own 600M asset with 180M capital - leverage effect. If price rises to 22M/pyeong (660M), profit 60M KRW. ROI = (60M÷180M)×100 = 33.3%.

Frequently asked questions

How do I calculate price per pyeong?

Divide the total sale price by the exclusive area in pyeong. For example, a 600M KRW apartment with 30 pyeong of exclusive area has a price per pyeong of 600M ÷ 30 = 20M KRW.

Should I use exclusive area or supply area for the calculation?

Use exclusive area for an accurate figure. Calculating with supply area (exclusive + common area) understates the true price per pyeong and can distort comparisons between listings.

How do I convert price per pyeong into price per square meter?

Divide the price per pyeong by 3.3058. For example, 20M KRW per pyeong is roughly 6.05M KRW per square meter.

Why is the price per pyeong higher for apartments than villas?

Apartments come with elevators, professional management, and shared amenities, so in the same area they typically run 1.5-2x higher per pyeong than villas.

Can price per pyeong alone tell me if a listing is overpriced?

It is only a starting point. Compare it against the nearby average - within ±10% is fair, +20% or more suggests overpricing - but also check floor, direction, and renovation condition for the specific unit.