Jeon Ji-hyun's Apartment Price Soars by 3.9 Billion Won in 2 Years... Tops as the Most Expensive Apartment

Top 3 Most Expensive Apartments in Seoul: 3 Out of 5 Are Outside Gangnam
Seongsu 9.5 Billion KRW, Hannam 8.5 Billion KRW... Highest-Priced Apartments Top 3

In the second half of this year, it was found that three out of the top five most expensive apartments traded in Seoul were located outside the Gangnam area.

According to real estate big data company Asil and the Ministry of Land, Infrastructure and Transport's actual transaction price disclosure system on the 23rd, the most expensive apartment traded since July was Acro Seoul Forest in Seongsu-dong, Seongdong-gu, with an exclusive area of 198㎡ (60 pyeong) and a sale price of 9.5 billion KRW. This price is 72% (3.98 billion KRW) higher than the transaction price two years ago (5.52 billion KRW).

Acro Seoul Forest in Seongsu-dong, completed in November 2020, consists of two buildings with 49 floors above ground and 280 households, featuring medium to large units with exclusive areas ranging from 116 to 344 square meters (35 to 104 pyeong). In September last year, actress Jun Ji-hyun attracted attention by purchasing an 80-pyeong (264 square meters) unit in this complex for 13 billion KRW.
[Photo by Asia Economy]

Acro Seoul Forest in Seongsu-dong, completed in November 2020, consists of two buildings with 49 floors above ground (280 households) and is composed of medium to large-sized units with exclusive areas ranging from 116 to 344㎡ (35 to 104 pyeong). Last September, actress Jun Ji-hyun attracted attention by purchasing an 80-pyeong (264㎡) unit in this complex for 13 billion KRW.

The second place was also taken by Galleria Foret, a luxury residential-commercial complex in Seongsu-dong. The exclusive area of 218㎡ (66 pyeong) was reported at 9 billion KRW this month, up from 8.8 billion KRW in June. It is a representative residential-commercial complex in Seongsu-dong with a maximum of 45 floors, consisting of 230 households with exclusive areas ranging from 231 to 375㎡ (70 to 113 pyeong).

The third place was Hannam The Hill in Hannam-dong, Yongsan-gu (exclusive area 208㎡, 63 pyeong), which was traded at a record price of 8.5 billion KRW last month. This is 1.5 billion KRW higher than the 7 billion KRW price in September 2021. The fourth and fifth places were taken by Banpo Xi in Banpo-dong, Seocho-gu (exclusive area 244㎡, 74 pyeong, 7.19 billion KRW) and Hyundai 1st and 2nd complexes in Apgujeong-dong, Gangnam-gu (exclusive area 160㎡, 48 pyeong, 6.5 billion KRW), respectively.

Since the 2010s, the affluent residential areas have shifted to Yongsan, Seongdong, and others

Acro Seoul Forest in Seongsu-dong, completed in November 2020, consists of two buildings with 49 floors above ground and 280 households, featuring medium to large-sized units with exclusive areas ranging from 116 to 344 square meters (35 to 104 pyeong).
[Photo by Asia Economy DB]

Wealthy individuals began to focus on non-Gangnam areas such as Yongsan and Seongdong starting in the 2010s. Experts particularly analyzed that the affluent residential area landscape began to change with the construction of complexes like Hannam The Hill in 2011 and Galleria Foret in 2012.

Hannam The Hill, which converted to sale from lease in 2014, rose to the top, supported by Nine One Hannam, which moved in 2019, and Janghak Park Hannam, built in 2020. In Seongsu-dong, Trimage moved in 2017, and Acro Seoul Forest in 2020.

Seongsu-dong and Hannam-dong are located along the Han River with a southern Han River view, and are also considered areas with high future value due to redevelopment projects such as the Seongsu Strategic Maintenance District.

A real estate industry official said, "While demand from wealthy individuals for ultra-large apartments around 330㎡ (100 pyeong) remains steady, supply is limited," adding, "Once development in areas like Seongsu-dong is completed, they are expected to become locations comparable to Gangnam."

September, the moving season, sees the lowest apartment move-in volume in the metropolitan area in two years

The number of move-in units in Seoul in September is only 32 households. This is a 99% decrease compared to the same period last year (3,095 households). In Gyeonggi Province, there are 5,944 households, which is a 33% decrease compared to the same period last year (8,874 households).
[Photo by Yonhap News]

The volume of apartment move-ins, a major factor affecting apartment prices, is expected to decrease significantly starting in September. According to real estate big data company Real Estate R114, the nationwide apartment move-in volume in September is 24,986 households, a 27% decrease compared to the same period last year (34,097 households).

In particular, the metropolitan area recorded only 8,431 households, which is almost half compared to the same period last year (16,226 households). This is also a significant decrease compared to the previous month (13,187 households).

The metropolitan area's move-in volume is the lowest since September 2021 (7,776 households). This is due to a significant reduction in move-in volumes in Seoul and Gyeonggi Province. Seoul's move-in volume in September is only 32 households, a 99% decrease compared to the same period last year (3,095 households). Gyeonggi Province recorded 5,944 households, a 33% decrease compared to the same period last year (8,874 households).

Real Estate R114 predicted that with the government's announcement of measures against reverse jeonse (key money deposit) in early July making it easier to obtain loans for returning jeonse deposits, the rental market has stabilized, and with the low move-in volume in the metropolitan area until September, rental prices are expected to recover noticeably during this autumn moving season.

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