The Highest-Priced Building Transaction in the First Half of the Year: '430 Billion Won Seocho-dong Office'

47.21 million KRW per 3.3㎡, highest office sale price per pyeong

7 out of top 10 highest-priced buildings are located in Seoul

[Asia Economy Reporter Kim Min-young] Among commercial real estate in the Seoul metropolitan area including Seoul, Gyeonggi, and Incheon, the building with the highest sale price in the first half of this year was an office facility in Seocho-gu, Seoul, which was traded for 430 billion KRW. This office building also recorded the highest price of 47.21 million KRW per 3.3㎡ (pyeong) based on sale price.

On the 20th, commercial real estate data specialist RSquare analyzed actual transaction prices of office and commercial buildings in the first half of this year. In June, the A office building in Seocho-dong, Seocho-gu was sold for 430 billion KRW. The building’s total floor area is 29,916㎡ and it was built in 1999.

The B lodging facility in Cheongdam-dong with a total floor area of 20,422㎡ was sold for 408.5 billion KRW earlier this year. The sale price per 3.3㎡ reached an astonishing 66.13 million KRW. The C neighborhood living facility in Yangjae-dong, with a total floor area of approximately 44,093㎡, was also sold for 400 billion KRW at the beginning of the year.

The highest-priced commercial real estate transaction in Gyeonggi Province was the D retail facility in Jung-dong, Bucheon, which was sold for 381.1 billion KRW. The total floor area is about 47,993㎡, and the sale price per 3.3㎡ was 26.25 million KRW. The E retail facility in Iljik-dong, Gwangmyeong was sold for 324 billion KRW. It is a large retail facility with a total floor area of about 126,000㎡.

The most expensive commercial real estate transaction in Incheon was the F retail facility in Songdo-dong, Yeonsu-gu, sold for 143.6 billion KRW in May this year. The total floor area is about 48,500㎡. It was built in 2015. The G neighborhood living facility in Jakjeon-dong, Gyeyang-gu followed, sold for 25 billion KRW.

RSquare’s cumulative real estate transaction volume over the past five years has surpassed 6 trillion KRW. During this period, the total area of real estate was 1.35 million㎡, which is about half the size of Yeouido in Seoul (2.9 million㎡).

Among the top 10 highest sale prices, 7 buildings were located in Seoul. By usage, there were 3 office facilities, 4 commercial facilities (retail, neighborhood living facilities), 1 lodging facility, and 2 education and research facilities.

The Hyungji Building in Yeoksam-dong, for which RSquare provided sales advisory in the first half of this year, was sold at 46 million KRW per 3.3㎡. Anjeta Tower in Yeoksam-dong was 42 million KRW per 3.3㎡, and Samsung SDS Multi-Campus, SK Seorin Building in Seorin-dong, and The Pinnacle Yeoksam in Yeoksam-dong were each 40 million KRW per 3.3㎡.

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