More Than Half of Apartment Sales in Gangnam-gu, Seoul in January Set Record High Prices

Source=Real House

[Asia Economy Reporter Hwang Seoyul] More than half of the apartments traded in Gangnam-gu, Seoul, in January this year set new highest actual transaction prices.

According to an analysis of actual transaction prices by the Ministry of Land, Infrastructure and Transport conducted by real estate research firm Real House on the 7th, 56.6% of apartment transactions in Gangnam-gu, Seoul, in January were traded at prices higher than the previous highest sale price. Including transactions at the same price as the previous highest price, the ratio reached 64.15%.

Transactions at lower prices accounted for 30.19%, and 5.66% were newly built apartments with no previous transaction prices for comparison.

The reported prices of ultra-high-end apartments rose sharply. The Hyundai 1st Complex in Apgujeong-dong, Gangnam-gu, with an exclusive area of 196.21㎡, was traded at 8 billion KRW, 1.6 billion KRW higher than the previous 6.4 billion KRW. The Raemian Prestige in Banpo-dong, Seocho-gu, with 168㎡, was traded at 6 billion KRW, raising the highest price by 1.05 billion KRW.

Among the Gangnam 4 districts, which include Gangnam-gu, Seocho-gu, Seongdong-gu, and Songpa-gu, 38%, 25.5%, and 28.3% of the traded apartments respectively recorded the highest actual transaction prices.

Among the Gangnam 4 districts, Songpa-gu is the only area where transactions at lower prices accounted for more than half (56.60%). The Resence in Jamsil-dong, with 124.22㎡, was traded at 3 billion KRW, 500 million KRW lower than in December last year.

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