[비즈한국] We use artificial intelligence to provide quick and accurate information on real estate transactions for apartments and residential properties in Seoul over the past week.
In the Seoul residential real estate market, high-priced sales continued, centered on key areas such as Gangnam, Yeouido, and Yongsan. According to the Seoul Real Estate Information Plaza, among transactions recorded from March 16 to March 20, a 4th-floor unit at Raemian Daechi Palace in Daechi-dong, Gangnam-gu, with an exclusive area of 84.97㎡, was sold for 4.19 billion won, marking the highest price this week.
Following this, an 11th-floor unit at Jugong Apartment Complex 5 in Jamsil-dong, Songpa-gu, with an exclusive area of 76.5㎡, was sold for 4.127 billion won. This property, completed in 1978, was traded at a price not far from the highest recorded in this tally.
A 9th-floor unit at Sibeom Apartments in Yeouido-dong, Yeongdeungpo-gu, with an exclusive area of 156.99㎡, was sold for 4.03 billion won. As a complex completed in 1971, it is one of the representative high-priced transactions identified in the Yeouido area.
A 5th-floor unit at the Park Tower Officetel in Yongsan-dong 5-ga, Yongsan-gu, with an exclusive area of 150.6㎡, was sold for 3.5 billion won. Subsequently, a 12th-floor unit at Jangmi 2 in Sincheon-dong, Songpa-gu, with an exclusive area of 82.45㎡, changed hands for 3.22 billion won.
A house in Seongsu-dong 2-ga, Seongdong-gu, with an exclusive area of 125.8㎡, was sold for 2.79 billion won. A unit at Woosung Apartment in Jamsil-dong, Songpa-gu, with an exclusive area of 80.35㎡, was traded for 2.78 billion won. Units at Sibeom in Yeouido-dong, Yeongdeungpo-gu, with exclusive areas of 79.24㎡, were sold for 2.7 billion won and 2.57 billion won respectively, while another Sibeom unit in the same area with an exclusive area of 60.96㎡ was traded for 2.53 billion won.
The sale price of Raemian Daechi Palace was approximately 163.01 million won per pyeong, significantly higher than the average sale price of 59.259 million won per pyeong for Seoul apartments in December, as announced by KB Real Estate. Following this, Jamsil Jugong Complex 5 was traded at approximately 178.33 million won per pyeong, and Yeouido Sibeom was traded at approximately 84.86 million won per pyeong, both exceeding the Seoul average.
Real estate industry experts analyzed that the record-high transaction at Raemian Daechi Palace is the result of its prime location combining access to major Gangnam academy districts and the Pangyo-wide business zone, along with the scarcity of being a newer, large-scale residential complex that moved in in 2015.
Despite being an older complex, Jamsil Jugong Complex 5 continues to see a trend where asking prices exceed 3 billion won, with actual transactions forming around 4 billion won, mainly for larger units. This is evaluated as evidence that despite policy variables surrounding reconstruction, the perceived market value of reconstruction complexes in core locations does not easily decline.
In the case of Yeouido Sibeom Apartments, although it is an aging complex completed in the 1970s, it consistently trades at the low 4 billion won range for the 156㎡ type and the mid-to-high 2 billion won range for mid-to-small types of 60-70㎡, according to Ministry of Land, Infrastructure and Transport data. Analysts suggest that the symbolism of a large apartment complex located in the heart of the Yeouido financial and business district, along with the potential for remodeling and reconstruction, is already reflected in the price.
Experts noted that the top 10 properties this week were concentrated in so-called 'core Seoul areas.' They agreed that because there are not many new residential units available as substitutes, transactions in these core complexes are driving the average market price. While the market acknowledges the significant burden on end-users with prices rising beyond 3 billion won to the 4 billion won mark, there is an evaluation that the 'polarization toward top-tier locations and complexes in Seoul' is becoming more pronounced as urgent sale listings in these complexes are quickly absorbed.
※ This article was written by BizHankook and MetaVX's generative AI together.