[비즈한국] During the third week of July, the Seoul residential real estate market saw prominent high-priced transactions in key preferred areas, including Apgujeong, Daechi-dong, Yeouido, Seongsu, and Mok-dong. The top-tier transaction list featured a mix of aging large-scale complexes with reconstruction potential, apartments with excellent Han River accessibility, and large-sized units with limited supply.
According to the Seoul Real Estate Information Plaza, a 9th-floor unit of Sin-Hyundai 11th in Apgujeong-dong, Gangnam-gu, with an exclusive area of 183.41㎡, was sold for 10.5 billion won between July 13 and July 17, taking the top spot for weekly actual transactions.
The price per 3.3㎡ of exclusive area is approximately 189.25 million won. As the only contract in the 10 billion won range this week, it demonstrates the price competitiveness of large-sized units in Apgujeong, which are rare even within the Gangnam area.
The Apgujeong area is a representative large-scale reconstruction district in Seoul, where business advancement and competition for construction rights are ongoing. It appears that the business speed of key urban renewal sites in Seoul and expectations for the future transformation of the Han River waterfront are being reflected in the value of existing apartments. In addition to Apgujeong, large-scale urban renewal projects are underway in Yeouido, Mok-dong, and Seongsu, with competition among major construction firms intensifying.
In second place was Hanbo Mido Mansion 1 in Daechi-dong, Gangnam-gu. A 2nd-floor unit with an exclusive area of 128.01㎡ was sold for 3.88 billion won. Together with Sin-Hyundai 11th, the fact that reconstruction-ready complexes in the Gangnam area dominated the top transactions reaffirms the demand for established large-scale complexes that combine urban renewal potential with excellent school districts and living infrastructure.
A 11th-floor unit of Sibeom Apartments in Yeouido-dong, Yeongdeungpo-gu, with an exclusive area of 79.24㎡, changed hands for 2.9 billion won. The price per 3.3㎡ of exclusive area is approximately 120.98 million won.
Yeouido Sibeom Apartments is a flagship reconstruction complex located by the Han River and adjacent to the financial hub. As a project is underway to rebuild the existing 1,584 units into a complex of up to 59 stories with 2,491 units, it is considered a symbolic urban renewal site that will transform the Yeouido skyline.
Seongdong-gu saw two transactions at 2.43 billion won: an 8th-floor unit of Seoul Forest Sambu Apartment in Haengdang-dong (122.01㎡ exclusive area) and a 7th-floor unit of Hyundai I-PARK in Seongsu-dong 2-ga (116.22㎡ exclusive area) were sold at the same price.
Haengdang-dong and Seongsu-dong are areas driving residential preference in Seongdong-gu, sharing accessibility to Seoul Forest, the Han River, and the downtown business district. In particular, the Seongsu Strategic Redevelopment Zone is undergoing urban renewal projects across four districts with over 9,000 households, fueling expectations for regional value appreciation in the existing apartment market as well.
This was followed by a unit at Mok-dong New Town Complex 13 in Sinjeong-dong, Yangcheon-gu (70.73㎡ exclusive area), which sold for 2.22 billion won. Another unit of the same type was sold for 2.22 billion won during the same week. Olympic Family Town in Munjeong-dong, Songpa-gu (84.705㎡ exclusive area) traded for 2.2 billion won. Acro Tower Square in Yeongdeungpo-dong 7-ga, Yeongdeungpo-gu (84.75㎡ exclusive area) and Nonhyeon Paragon in Nonhyeon-dong, Gangnam-gu (117.84㎡ exclusive area) sold for 2.14 billion won and 1.97 billion won, respectively.
Although the top transactions this week varied by location and completion date, they shared clear commonalities. In Apgujeong, Daechi, Yeouido, and Mok-dong, large-scale complexes with reconstruction potential were favored, while in Seongdong-gu and Yeongdeungpo-gu, complexes with easy access to the Han River and business districts traded at high prices.
Throughout the broader Seoul apartment market, prices continue to rise, centered on areas near transit hubs, reconstruction sites, and large complexes with favorable living conditions. According to a survey by the Korea Real Estate Board, Seoul apartment sale prices rose 0.30% in the first week of July compared to the previous week. However, some regions are showing a wait-and-see attitude due to loan regulations, leading to growing differentiation based on region and price point.
Regarding price per area, Apgujeong’s dominance was even more pronounced. The price per 3.3㎡ of exclusive area for Sin-Hyundai 11th was approximately 189.25 million won, significantly surpassing the approximately 100.19 million won for Hanbo Mido Mansion 1 and the approximately 120.98 million won for Yeouido Sibeom Apartments.
Compared to the average Seoul apartment sale price of 59.259 million won per 3.3㎡ reported by KB Real Estate last December, Sin-Hyundai 11th is approximately 3.2 times higher. This means that even within Seoul, price gaps are widening significantly based on location, size, and urban renewal expectations.
While government loan regulations have raised the barrier to entry for high-priced housing, the ultra-high-end market, which is relatively less dependent on loans, can see prices and transaction volumes move in different directions. In fact, while transactions of apartments over 3 billion won in Seoul this year have decreased compared to the previous year, high prices remain firm in core areas like Apgujeong and Banpo, centered on rare listings.
Actual transactions this week show that rather than the entire Seoul housing market rising in unison, high-priced demand is concentrated in specific complexes that meet criteria such as reconstruction potential, Han River waterfront locations, and large unit sizes. In other words, a separate price order is at work for core assets with clear scarcity, even amid financial regulations that pressure overall transaction volume.
※ This article was written by the generative AI of Biz Hankook and MetaVX.