[BizHanKook] According to the Seoul Real Estate Information Plaza, an analysis of actual transaction prices for residential properties in Seoul from 8:00 AM on October 26 to 8:00 AM on October 30 shows that a 10th-floor unit of the Seonkyung 1st Apartment in Daechi-dong, Gangnam-gu (exclusive area of 136.68㎡) recorded the highest price of the week, selling for 5.1 billion KRW. While Gangnam-area apartments dominated the top rankings, properties in non-Gangnam districts such as Gwangjin-gu, Yeongdeungpo-gu, Yongsan-gu, and Dongjak-gu also saw transactions in the 2 billion KRW range.
The transaction for Seonkyung 1st Apartment was finalized on October 28. A 7th-floor unit of the same size sold for 4.85 billion KRW on September 30, an 8th-floor unit for 5.07 billion KRW on June 23, and a 2nd-floor unit for 5.3 billion KRW this January. While this latest transaction price is 250 million KRW higher than the previous one, it remains 200 million KRW below the yearly high. This trade reconfirms the price range hovering around 5 billion KRW; however, as the report indicates it was a direct transaction, one should be cautious about comparing it directly to standard brokerage transactions. The price per pyeong is approximately 123 million KRW.
Second place went to a 26th-floor unit of the Banpo Xi Apartment in Banpo-dong, Seocho-gu (exclusive area of 59.98㎡), which sold for 3.72 billion KRW. A 16th-floor unit sold for 3.655 billion KRW on September 16, and an 11th-floor unit for 3.73 billion KRW on July 20. Compared to the 3.8 billion KRW transaction for the same 26th-floor level in July last year, this is 80 million KRW lower. Although higher than the immediate previous transaction, it does not exceed the recent price range of around 3.7 billion KRW or previous highs. The price per pyeong was approximately 205.03 million KRW, the highest among the top transactions this week.
Third place is a 2nd-floor unit of the Posh Riverview Apartment in Gwangjang-dong, Gwangjin-gu (exclusive area of 84.93㎡), which sold for 2.97 billion KRW. This is the highest transaction outside of Gangnam-gu and Seocho-gu. Compared to a 7th-floor unit of a similar size (84.98㎡) that sold for 3.5 billion KRW on May 18, it is 530 million KRW lower. As this complex was completed in 2025, there are still few public sales records for the same size, and the difference in floor levels makes it difficult to draw conclusions about the complex's price trend based on this single transaction. The price per pyeong is approximately 115.6 million KRW.
Joint 4th place went to the PnPolis Officetel in Cheongdam-dong, Gangnam-gu. A 9th-floor unit (exclusive area of 93.31㎡) and another 9th-floor unit (exclusive area of 89.06㎡) each sold for 2.6 billion KRW. Two units of different sizes in the same building were traded on the same day, on the same floor, for the same price. For the 93.31㎡ unit, a 4th-floor unit sold for 2.95 billion KRW in February 2025 and a 5th-floor unit for 3 billion KRW in February 2024, meaning this price is lower than previous highs. For the 89.06㎡ unit, comparable transactions for the same size are rare, though a similar 88.25㎡ unit on the 9th floor sold for 2.62 billion KRW in July of this year. Regardless of the absolute price of these luxury Cheongdam-dong officetels, it is difficult to classify either case as a clear uptrend.
The 6th-ranked transaction was an 84.97㎡ unit at Samsung Apartment in Suseo-dong, Gangnam-gu, which sold for 2.5 billion KRW. The same size saw a 15th-floor unit sell for 2.6 billion KRW on July 13, and 2.5 billion KRW transactions for 2nd and 14th-floor units were reported in September. This transaction confirms the recurring 2.5 billion KRW price level, which is 100 million KRW lower than the July high.
In Yeouido, two transactions featuring different sizes and property types were included in the rankings. The 7th-ranked property, a 234.02㎡ unit at River Tower Apartment in Yeouido-dong, Yeongdeungpo-gu, sold for 2.43 billion KRW. Large units of around 234㎡ have seen few transactions in the last two years, and since this price is lower than previous records, it is difficult to interpret this single trade as a rise in market value. The 8th-ranked Hwarang Apartment in the same neighborhood (exclusive area of 97.55㎡) sold for 2.3 billion KRW. Transaction frequency for this size is low, with this being the only sale in the last three years. While nearby 105㎡ units sold between 2.18 billion KRW last year and 2.58 billion KRW this year, direct price comparisons are limited due to differences in size and floor level.
Joint 9th place came from Yongsan-gu and Dongjak-gu. A 59.79㎡ unit at Yongsan Lotte Castle Center Fore in Hyochang-dong, Yongsan-gu, sold for 2.19 billion KRW. For the same size, an 8th-floor unit sold for 2.08 billion KRW on May 23 and a 19th-floor unit for 2 billion KRW on April 28. This transaction is 110 million KRW higher than the previous price, setting a new price ceiling.
A 84.42㎡ unit at Doosan We've Trezium in Sadang-dong, Dongjak-gu also sold for 2.19 billion KRW. The same size sold for 2.11 billion KRW (13th floor) on September 15 and 2.15 billion KRW (13th floor) on May 19. This is a new record high, 40 million KRW above the previous peak. The fact that Yongsan Lotte Castle Center Fore and Doosan We've Trezium have raised the price ceilings for 59㎡ and 84㎡ units respectively outside the "Gangnam 3-gu" highlights the regional temperature differences in the market this week.
Looking at the price per pyeong of the top transactions, Seonkyung 1st was approximately 123 million KRW, Banpo Xi was approximately 205.03 million KRW, and Posh Riverview was approximately 115.6 million KRW. All exceeded the average Seoul apartment price per pyeong of 59.259 million KRW reported by KB Real Estate last December, with Seonkyung 1st exceeding double that average. However, it is necessary to distinguish between the high-price transaction rankings and overall price trends in Seoul.
In the Korea Real Estate Board's weekly survey as of October 26, Seoul apartment prices continued their upward trend with a 0.09% increase from the previous week, though the growth rate narrowed from the previous week's 0.13%. While Seongbuk-gu rose 0.42% and Seodaemun-gu rose 0.38%, Gangnam-gu fell 0.37%, Seocho-gu 0.34%, and Songpa-gu 0.22%. Even though the top rankings include several high-priced transactions in the Gangnam area, the fact that Seonkyung 1st, Banpo Xi, and PnPolis did not exceed previous highs aligns with the weak price index in the Gangnam 3-gu. Conversely, some complexes in Yongsan and Dongjak set record highs, showing divergent price trends even within Seoul.
Transaction volume appears to be slowing down ahead of prices. The number of Seoul apartment transactions in August was 3,529, a 39.7% decrease from the 5,855 transactions in July. This downward trend in transactions continued through September, and it is difficult to determine the final figure for October as the reporting deadline for actual transactions remains.
In a situation where the mortgage loan limit for home purchases in the metropolitan area and regulated areas is capped at 600 million KRW, all of this week's top transactions exceeded 2 billion KRW. Since the loan limit represents a small portion of the purchase price, buyers with high liquidity have a greater influence on high-priced transactions. However, there is no evidence to conclude that individual transactions were finalized solely due to loan regulations. As a rise in the price index and a decrease in transaction volume are occurring simultaneously, it is more reasonable to view this as a phase of selective trading by region and price point rather than a broad, strong trend of buying across all of Seoul.
※ This article was written by BizHankook and MetaVX's generative AI.