South Korea's home transactions climbed to a new high for the month of August, the government said Wednesday, in the latest sign of recovery in the real estate market here.

The number of home transactions came to 94,110 last month, up 23.2 percent from the same month last year, according to the Ministry of Land, Infrastructure and Transport.

The figure marks a 15 percent drop from a month earlier, but it is the largest number for the month of August since the government began compiling such data in 2006.

"The number of home transactions had breached the 100,000 mark every month since March, but the number came in a little short in August due to seasonal factors," the ministry said in a press release.

In the first eight months of the year, home transactions spiked 30.1 percent on-year to 815,581.

Such a rise follows a series of government measures aimed at revitalizing the property market, which included a 10-year reduction in the minimum age of large apartment buildings eligible for reconstruction that has apparently prompted investment in older apartments.

Home transactions involving apartment units jumped 15.1 percent on-year to 62,424 in August while transactions involving detached houses also spiked 37.1 percent to 14,317, according to the ministry.

The apparent recovery in the real estate market was more visible in the Seoul metropolitan area, where many aged apartment buildings are expected to benefit from the 10-year reduction in the minimum age for reconstruction.

In August, home transactions in the capital alone spiked 71 percent on-year while home transactions in the entire capital region surged 43.3 percent to 49,892. The capital region includes the western port city of Incheon and the entire Gyeonggi Province that surrounds Seoul.

Home transactions in rural areas gained 6.4 percent to 44,218 in August. (Yonhap)