[비즈한국] In the Seoul residential real estate market, transactions of high-priced apartments in Seocho-gu and Gangnam-gu led the top of the market, while sales of large-sized units also continued in areas such as Yangcheon-gu and Gwangjin-gu. According to the Seoul Real Estate Information Plaza, the top real estate transaction for the week of July 6 to July 10 was a 10th-floor unit of Banpo Raemian Trinity One in Banpo-dong, Seocho-gu, with an exclusive area of 100.43㎡, which sold for 5.88102 billion won.
Following this, a 19th-floor unit of Banpo Raemian Trinity One with an exclusive area of 84.96㎡ was sold for 5.04299 billion won. Two ultra-high-priced transactions in the same complex appeared side-by-side at the top, once again demonstrating the price level of the core Banpo-dong area.
In Gaepo-dong, Gangnam-gu, a 27th-floor unit of Gaepo Raemian Forest with an exclusive area of 102.32㎡ was sold for 3.9 billion won. Subsequently, a 19th-floor unit of the same complex with an exclusive area of 59.92㎡ was also traded for 3.08 billion won, indicating a robust price trend for major complexes in Gaepo-dong.
In Olympic Family Town in Munjeong-dong, Songpa-gu, a 4th-floor unit with an exclusive area of 136.325㎡ was sold for 3.05 billion won. The transaction for this large-sized unit exceeded 3 billion won, placing it among the high-priced transactions in the Songpa area.
In Mok-dong, Yangcheon-gu, a 3rd-floor unit at Mok-dong New Town Complex 7 with an exclusive area of 101.2㎡ was sold for 3 billion won. Transactions in the 3-billion-won range have continued in the Mok-dong area, where expectations for reconstruction are consistently reflected.
Additionally, a unit at Mok-dong Hillstate apartment in Sinjeong-dong, Yangcheon-gu, with an exclusive area of 155.77㎡, was traded for 2.98 billion won, and a unit at The Sharp Star City apartment in Jayang-dong, Gwangjin-gu, with an exclusive area of 163.53㎡, was traded for 2.9 billion won. Furthermore, a unit at Mok-dong New Town Complex 7 in Mok-dong, Yangcheon-gu, with an exclusive area of 64.4㎡, was traded for 2.63 billion won, and a unit at Gwanghwamun Space-bon in Sajik-dong, Jongno-gu, with an exclusive area of 146.92㎡, was traded for 2.5 billion won.
Previously, the sale price of the Banpo Raemian Trinity One unit in Banpo-dong recorded approximately 193.58 million won per pyeong, significantly exceeding the average apartment price per pyeong in Seoul of 59.259 million won as of last December, as reported by KB Real Estate. Following this, the same Banpo Raemian Trinity One in Banpo-dong was traded at approximately 196.22 million won per pyeong, and the Gaepo Raemian Forest in Gaepo-dong was traded at approximately 126 million won per pyeong, also showing high actual transaction prices.
Real estate experts analyzed that the first-place transaction of the 100.43㎡ exclusive area unit at Banpo Raemian Trinity One reflects both the scarcity of a new, large-scale complex with 2,091 households scheduled for occupancy in August and the limited supply of mid-to-large-sized units exceeding 100㎡. They explained that because the complex features a direct underground connection to the Gu-Banpo Station and is a large-scale new development—a rarity in Banpo-dong—the transaction price was supported more by product quality and the preference for new apartments rather than a direct view of the Han River.
They analyzed that the second-place transaction for the 84.96㎡ exclusive area unit in the same complex reached the 5-billion-won range due to the combination of it being a representative size favored by actual residents and its location on the 19th floor. The fact that multiple transactions of different unit sizes were signed consecutively in the same complex also enhanced price credibility, as demand sought to preempt price benchmarks for the upcoming new complex. The third-place transaction, a 102.32㎡ exclusive area unit at Gaepo Raemian Forest, was a high-floor, mid-to-large-sized unit in a 2,296-household complex that moved in during 2020. The analysis suggests that with the market price for such units forming in the 3.9-billion-won range as of July, the 27th-floor unit was traded in line with market values.
Experts agreed that because all of the top 10 transactions this week exceeded 2.5 billion won, with 7 of them exceeding 100㎡ in exclusive area, the upper end of the Seoul market is being shaped primarily by new, large-scale complexes in core residential areas and scarce large-sized units. They analyzed that although the government has limited mortgage loan limits to 200 million won for houses exceeding 2.5 billion won and tightened total household loan management, price effects differ by price segment as demand with low loan dependency supports prices in the high-end segment. They added that as the Korea Real Estate Board survey also showed that Seoul apartment sales and jeonse prices rose by 0.30% and 0.31% respectively in the first week of July, the market polarization is becoming distinct as price strength in preferred areas and large-scale complexes with good living conditions persists, regardless of financial regulations aimed at curbing transaction volume.
※ This article was written jointly by Bizhankook and MetaVX's generative AI.