The standard for 'the top 1% wealthy in real estate' has been set at 3 billion won. This standard has risen by more than 500 million won over the past 5 years. It is believed that the surge in housing prices, especially in the Gangnam area of Seoul, has been influenced by the trend of 'one good property.'
According to the analysis of the microdata of the household financial welfare survey conducted by the Statistics Korea on the 23rd, the threshold for the top 1% of real estate assets last year was 3 billion won. This is the result obtained by arranging the sampled households in order of net tangible assets and calculating the real estate assets of the top 1% of households considering the weight of each household.
Analyzing the threshold for the top 1% in real estate based on the same standard in 2019, the threshold was set at 2.46 billion won. This means that over the past 5 years, the threshold for the top 1% in real estate has increased by 540 million won.
In contrast, the threshold for the top 5% increased from 1.12 billion won in 2019 to 1.41 billion won in 2024, and the threshold for the top 10% also rose from 750 million won to 950 million won. The top 5% threshold increased by 290 million won, while the top 10% threshold rose by 200 million won.
On the other hand, the threshold for the median household did not experience significant increases. The median real estate asset threshold for all households increased only slightly from 160 million won in 2019 to 180 million won in 2021, an increase of 20 million won. This is interpreted as being influenced by polarization.
Meanwhile, the average asset value nationwide last year was counted at 540.22 million won. Areas with higher average asset prices than this include Seoul, Sejong, and Gyeonggi Province. Last year, the average price in Sejong City was 766.63 million won, ranking first. The average price in Seoul was 761.73 million won, and Gyeonggi Province's was 659.45 million won.
In contrast, the province with the lowest average asset amount was South Chungcheong, at 359.15 million won. North Jeolla followed with 365.86 million won.