[비즈한국] In the Seoul residential real estate market, transactions for high-priced properties in the Gangnam area were notable, alongside major residential complexes in the city center and non-Gangnam districts. According to the Seoul Real Estate Information Plaza, the highest weekly transaction price was recorded from August 17 to August 21, when a housing property with a dedicated area of 249.84㎡ in Daechi-dong, Gangnam-gu, was sold for 3.92 billion won. The price per pyeong was approximately 51.87 million won, which is lower than the average Seoul apartment price per pyeong of 59.259 million won as announced by KB Real Estate last December. While it is difficult to confirm all the specific conditions that influence prices—such as the size of the land and road conditions—based solely on public data, price variations for detached and multiplex houses in Daechi-dong are significant depending on land and building size. Therefore, it is more appropriate to view this transaction as a case where the size of the individual asset and land value determined the absolute price rather than the price per unit area.
Following this, a 12th-floor unit with a dedicated area of 84.92㎡ at Donghyeon Apartment 1-6 in Nonhyeon-dong, Gangnam-gu, was sold for 2.85 billion won, which is approximately 110.94 million won per pyeong. A 12th-floor unit of the same size was sold for 2.73 billion won and 2.825 billion won in April of this year, and even just before this transaction, a 4th-floor unit was sold for 2.7 billion won on August 16, confirming that the high 2-billion-won price range is holding steady. Donghyeon Apartment had its reconstruction union establishment promotion committee approved in April this year and began the process of selecting a designer in August. The recent transaction price is close to the 2025 peak of 2.9 billion won, and it is analyzed that the progress of the reconstruction project, rather than the intrinsic value of the older building itself, is one of the factors supporting the price floor.
A 10th-floor unit with a dedicated area of 80.29㎡ at Hanil Apartment in Samseong-dong, Gangnam-gu, was sold for 2.18 billion won, approximately 89.75 million won per pyeong, which is above the Seoul average. However, since the same size unit was sold for 2.35 billion won in February, 2.29 billion won in June, and 2.315 billion won in July, it is difficult to view this latest transaction as a price increase. While it was included in the top weekly transactions due to its location in Samseong-dong and the established price level in the early to mid-2-billion-won range, the fact that the price is actually lower compared to recent transactions for the same area suggests that price adjustments are occurring even within the Gangnam area depending on the specific property.
A 3rd-floor unit with a dedicated area of 84.977㎡ at Seoul Station Hanla Vivaldi Central Apartment in Manri-dong 2-ga, Jung-gu, was sold for 1.96 billion won. Since a 7th-floor unit of the same size was sold for 1.99 billion won in February, this transaction is close to the existing price high. As a 199-household complex completed in 2018, and considering that the sales price for the same area was mainly in the 1.4 billion to 1.5 billion won range in 2025, it is clear that the price level for mid-to-new apartments in the city center has moved up a tier. However, as it did not surpass the record high from February, it is more reasonable to view this as a transaction that maintained the existing high price level rather than an additional increase.
A 10th-floor unit with a dedicated area of 84.84㎡ at Hanshin Hue Plus Apartment in Bon-dong, Dongjak-gu, was sold for 1.52 billion won. The same size unit was sold for 1.52 billion won in March and around 1.54 billion won in July of this year, confirming the recent repeated price range of early 1.5 billion won. Compared to the transaction price of 1.1 billion to 1.3 billion won in the second half of 2025, the market price has risen, but this transaction is closer to reconfirming the recently formed price range rather than breaking the previous high.
A 16th-floor unit with a dedicated area of 84.87㎡ at Sagajeong Central IPark in Myeonmok-dong, Jungnang-gu, was also sold for 1.52 billion won. Transaction prices for the same area in this complex, which was occupied in 2020, ranged from the late 1.4 billion won to 1.54 billion won between July and August. A price range of around 1.5 billion won has been relatively clearly formed. The fact that an 84㎡ unit is repeatedly trading in the 1.5 billion won range in Jungnang-gu, rather than the Gangnam area, is evaluated as a case showing that the price upward trend is continuing for mid-to-upper grade residential areas outside of Gangnam.
A unit with a dedicated area of 84.973㎡ at Dongwon Benest Apartment in Ichon-dong, Yongsan-gu, was sold for 1.441 billion won. There is a notable price difference, as the same area was traded for 1.47 billion won in June and 1.3 billion won in July. As it is a small complex of 103 households with low transaction frequency, it is difficult to determine a trend from a single transaction; however, it appears that recent market prices are fluctuating according to individual property conditions rather than moving in a consistent direction.
Units with a dedicated area of 46.75㎡ at Geukdong Apartment in Sadang-dong, Dongjak-gu, were sold for 1.427 billion won and 1.405 billion won, respectively. The same size unit was trading in the early 1-billion-won range from September to October last year, rose to the 1.1 billion to 1.3 billion won range earlier this year, and has now reached around 1.4 billion won. Given that two units of the same size were sold in the low 1.4 billion won range this week, the upward trend in the price ceiling for small-sized units is clear.
A unit with a dedicated area of 84.94㎡ at Seongwon Apartment in Mok-dong, Yangcheon-gu, was sold for 1.415 billion won. The same area was traded in the 1.1 billion to 1.2 billion won range last year, rising to 1.395 billion won in April and 153 million won in July of this year. While this transaction is over 100 million won lower than in July, it is higher than last year. As it is a complex with few recent transactions, it is interpreted as a price discovery process in the 1.4 billion to 1.5 billion won range based on individual floor and property conditions, rather than a short-term price adjustment.
Looking only at the top 10 transactions this week, properties in Gangnam-gu, such as those in Daechi, Nonhyeon, and Samseong-dong, occupied the top of the absolute price range, but the overall price trend in Seoul showed a different direction. According to the Korea Real Estate Board as of August 17, the Seoul apartment sales price for the 3rd week of August rose 0.22% from the previous week, but Gangnam-gu fell 0.05% and Seocho-gu fell 0.09%. On the other hand, Jungnang-gu rose 0.44% and Jung-gu rose 0.41%, with non-Gangnam areas leading the Seoul uptrend. Considering that 84㎡ units in non-Gangnam areas such as Sagajeong Central IPark, Seoul Station Hanla Vivaldi Central, and Bon-dong Hanshin Hue Plus were traded in the 1.5 billion to 1.9 billion won range, it is analyzed that the upward trend is spreading to mid-priced and mid-to-high-priced complexes where loan regulation burdens are relatively low, while high-priced core areas are seeing a deepening wait-and-see sentiment.
Transaction volume appears to be slowing down before prices. According to the Seoul Metropolitan Government, the number of applications for land transaction permits for apartments in Seoul in July was 4,681, an 11.7% decrease from the previous month, marking a decline for three consecutive months. Compared to the peak in April, it has decreased by 47.5%. Conversely, the application price rose by 1.41% from the previous month, showing a simultaneous decrease in transactions and an increase in prices. In Seoul and other metropolitan and regulated areas, the mortgage loan limit is restricted to 400 million won for houses exceeding 1.5 billion won up to 2.5 billion won, and 200 million won for houses exceeding 2.5 billion won, making buying power through loans narrower for higher-priced homes. Accordingly, it is analyzed that demand with a high proportion of self-funding is becoming relatively important in complexes where high-priced transactions in the late 2-billion-won range continue, like Nonhyeon-dong Donghyeon Apartment, and price differentiation will continue for the time being with buying pressure moving toward non-Gangnam complexes around 1.5 billion won in the general real-demand market.
※ This article was written by Bizhankook and MetaVX's generative AI together.