[비즈한국] It has been confirmed that sales of ultra-high-end apartments worth over 5 billion won increased by 1.5 times last year compared to the previous year. The vast majority of these ultra-high-end transactions were concentrated in Seoul, specifically in Apgujeong-dong, Gangnam-gu, where reconstruction is currently underway. While the highest price for a domestic apartment remained in the 10 billion won range as recently as 2023, it surpassed 20 billion won in 2024 and set a new record last year at 29 billion won. As the preference for a 'single high-quality home' grows among the wealthy due to regulations on multi-home ownership, the polarization of apartment prices appears to be intensifying.
According to an analysis of data from the Ministry of Land, Infrastructure and Transport's actual transaction price disclosure system by Bizhankook on the 1st, 636 apartments were sold for over 5 billion won last year, an increase of 210 units (49%) from the previous year. Sales between 5 billion and under 10 billion won increased by 194 units (48%) to 597; sales between 10 billion and under 15 billion won increased by 11 units (61%) to 29; and sales between 15 billion and under 20 billion won increased by 6 units (300%) to 8. Transactions over 20 billion won totaled 2, a decrease of 1 from the previous year. The deadline for reporting actual real estate transactions is 30 days from the contract date, and the reporting deadline for 2025 was the end of last January.
Most Transactions Concentrated in Seoul, Led by the Apgujeong Apartment District Reconstruction Hotspot
The majority of apartments sold for over 5 billion won last year are located in Seoul. By region, there were 338 cases in Gangnam-gu, 202 in Seocho-gu, 34 in Yongsan-gu, 34 in Seongdong-gu, 16 in Yeongdeungpo-gu, 9 in Songpa-gu, 1 in Yangcheon-gu, 1 in Jung-gu, and 1 in Haeundae-gu, Busan. Apartment complexes with a high frequency of ultra-high-end sales over 5 billion won included Raemian One Bailey (44 cases), Banpo Xi (40 cases), and Raemian Firstige (39 cases) in Seocho-gu, Seoul. When considering only transactions of 10 billion won or more, Nine One Hannam in Yongsan-gu, Seoul, had the most (8 cases).
The region with the highest number of sales over 5 billion won last year was Apgujeong-dong (Apgujeong Apartment District) in Gangnam-gu, Seoul. Ultra-high-end apartment sales in Apgujeong-dong totaled 211, accounting for 33% of the total. This is an increase of 62 cases (42%) compared to the previous year. Led by Hyundai 7th 245㎡ (13.05 billion won in April) and Hyundai 1st 196㎡ (13.05 billion won in August), there were 17 transactions exceeding 10 billion won. The Apgujeong Apartment District, composed of Apgujeong Hyundai (1st-14th), Miseong (1st-2nd), and Hanyang (1st-8th) apartments, is currently divided into 6 zones pursuing reconstruction.
Acro Seoul Forest Overtakes Nine One Hannam for Top Sale Price
The apartment that recorded the highest sale price in 2025 is Acro Seoul Forest in Seongdong-gu, Seoul. A 274㎡ unit was traded for 29 billion won in June, breaking the record for the highest apartment sale price in Korean history. Acro Seoul Forest is an ultra-high-rise apartment complex completed in November 2020 by DL E&C 375500, featuring two 49-story buildings (280 units) located on the east side of Seoul Forest. It was launched with the aspiration of being a '100-year home' that maintains its value over time. Until then, the domestic record was held by Nine One Hannam 273㎡ in Yongsan-gu, Seoul, which sold for 25 billion won in August 2024 and February of last year.
Other top 10 apartments by sale price last year include Nine One Hannam 274㎡ in Yongsan-gu (25 billion won in February), PH129 274㎡ in Gangnam-gu (19 billion won in July), Acro Seoul Forest 198㎡ in Seongdong-gu (18.7 billion won in May), Hannam The Hill 243㎡ in Yongsan-gu (17.5 billion won in March), Nine One Hannam 244㎡ in Yongsan-gu (16.7 billion won in August), Raemian One Bailey 235㎡ in Seocho-gu (16.5 billion won in February), Nine One Hannam 244㎡ in Yongsan-gu (16 billion won in August, 15.8 billion won in March), and PH129 274㎡ in Gangnam-gu (15.5 billion won in December).
The polarization of apartment prices in Korea is continuing to intensify. According to a survey by the Korea Real Estate Board, the 5-quintile ratio for apartment prices nationwide was recorded at 14.5. This is the highest level since the Korea Real Estate Board began tracking the 5-quintile ratio in January 2012. The 5-quintile ratio for apartment prices is the average price of the top 20% divided by the average price of the bottom 20%. A higher ratio indicates a larger price gap between high-end and low-end housing. Last December, the 5th quintile (top 20%) of housing averaged 1.34296 billion won, while the 1st quintile (bottom 20%) averaged 92.92 million won.