Banpo Acro River Park 84㎡ 4.66 Billion Won... New Record Price Despite Transaction Freeze

Large 129.92㎡ Apartment Sold for 6.1 Billion Won, Setting a New Record
High Demand for Luxury Apartments in Gangnam Area Persists Despite Transaction Freeze

The sale prices of the exclusive 84㎡ and 129.92㎡ units at Acro River Park in Seocho-gu, Seoul, have both reached record highs. Although there is an increasing number of declining transactions in the Seoul apartment market, demand for high-priced apartments in the Gangnam area continues.

According to the Ministry of Land, Infrastructure and Transport's Apartment Real Transaction Price System on the 22nd, an 8th-floor exclusive 84㎡ unit at Acro River Park in Seocho-gu, Seoul, was sold for 4.66 billion KRW on the 21st of last month. This is 160 million KRW higher than the previous record of 4.5 billion KRW set on November 15 last year.

This was a gap investment property purchased with a jeonse (long-term deposit lease). The exclusive 84㎡ unit in this complex attracted attention in October 2019 when it was traded for 3.4 billion KRW, marking the era of 100 million KRW per pyeong in Gangnam apartments.

On the same day, a large 36th-floor exclusive 129.92㎡ unit was sold for 6.1 billion KRW. This is also a new record, surpassing the previous high of 6.02 billion KRW set on November 6 last year by 80 million KRW.

In the Gangnam area, record-breaking transactions are also occurring for rare large units. A 196㎡ exclusive unit in Hyundai 1st Complex, Apgujeong-dong, Gangnam-gu, which has redevelopment prospects, was sold for 8 billion KRW last month, breaking the previous record of 6.4 billion KRW.

This content was produced with the assistance of AI translation services.