South Korea's home transactions surged to a new monthly high in July, the government said Sunday, pointing to a strong recovery in the real estate market.

The number of home transactions came to 110,675 last month, up 43.2 percent from the same month last year, according to the Ministry of Land, Infrastructure and Transport.

The July figure is the largest number since the government began compiling such data in 2006.

"The number of home transactions has breached the 100,000 mark every month since March as more and more anticipate a recovery in the housing market," the ministry said in a press release.

The ministry, however, noted the growth in home transactions will likely slow down for the remainder of the year.

In the first seven months of the year, home transactions spiked 31 percent on-year to 721,471.

In July, the number of home transactions in the capital region jumped 72.7 percent to 57,105, while home transactions in rural areas came to 53,570, up 21.2 percent from a year earlier.

The capital area, which includes the western port city of Incheon and all of Gyeonggi Province, is home to about half of the country's 50 million population.

By type, apartment transactions surged 40.3 percent on-year to 74,112, while transactions involving row houses spiked 56.7 percent to 19,900.

Transactions of detached houses also surged 41.7 percent to 16,663. (Yonhap)