Apartment with One 10-Pyeong Room Soars Past 1.5 Billion Won

Trimaje 35㎡ 1.63 Billion KRW
Gangnam·Seongsu Small Units, Ultra-High Price Transactions

Seongdong-gu Seongsu-dong Trimage Apartment

[Asia Economy Reporter Hwang Seoyul] A one-room apartment in Seongsu-dong, Seongdong-gu, Seoul was traded for over 1.5 billion KRW, the limit for housing mortgage loans. In addition, there are cases where ultra-small apartments are traded around 1.5 billion KRW, mainly in some areas such as Gangnam and Seongsu.

According to the Ministry of Land, Infrastructure and Transport's actual transaction price disclosure system on the 10th, a 35㎡ exclusive area apartment in ‘Trimage’ located in Seongsu-dong, Seongdong-gu was traded for 1.63 billion KRW on April 4th. In the same month, a lower floor was traded for 1.55 billion KRW, and the current asking price for the same area listed on Naver Real Estate is formed between 1.65 billion and 1.75 billion KRW.

The unit consists of one bedroom, one living room, and one bathroom, a 1.5-room structure. Despite being a one-bedroom structure, it was traded at a price far exceeding the 1.5 billion KRW limit for loan prohibition. Under the Moon Jae-in administration's December 16, 2019 measures, housing mortgage loans are prohibited for apartments with market prices exceeding 1.5 billion KRW in speculative areas and overheated speculation districts, classifying apartments priced over 1.5 billion KRW as ultra-high-priced apartments.

Cases of small apartments being listed as ultra-high-priced apartments mainly appear in some areas with high apartment prices such as Gangnam and Seongsu. The Samsung Hillstate 2 Complex (exclusive area 40.55㎡) in Samseong-dong, Gangnam-gu, traded in July last year, was sold for 1.55 billion KRW. The Samik Daecheong Apartment (39.53㎡) in Gaepo-dong, Gangnam-gu, traded in December of the same year, was also sold for 1.5 billion KRW. In addition, the Seongwon Daechi 2 Complex Apartment (39.53㎡) in Gaepo-dong, Gangnam-gu, was traded for 1.45 billion KRW, and the Shindong-a (39.51㎡) in Suseo-dong, Gangnam-gu, was traded for 1.3 billion KRW last month, showing transactions near the loan prohibition limit.

Song Seunghyun, CEO of City and Economy, said, "The area is what is called a 'smart' area," and added, "It seems that capital has flowed mainly into areas where housing prices are stable."

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