Last year, the average apartment price in Seocho and Gangnam districts of Seoul was 2.5 billion won, while it was 500 million won in Dobong district, widening the gap to five times. Since September of last year, housing transactions have been sparse due to stricter loan regulations, but actual transaction prices of ultra-high-end apartments in Seoul's Gangnam area continue to rise.

According to data on "2024 Seoul apartment transaction prices" submitted by Representative Lee Yeon-hee of the Democratic Party to the National Assembly's Land, Infrastructure and Transport Committee on the 30th, the average actual transaction price of apartments sold in Seocho district last year was 2.518 billion won, the highest among the 25 districts of Seoul.

Apartment complex in the Banpo area of Seocho-gu, Seoul./Courtesy of Yonhap News Agency

Following Seocho district, the average actual transaction price of Gangnam apartments was 2.483 billion won. Yongsan followed with 2.257 billion won.

The average actual transaction price was aggregated based on the contract date. The final figures may vary slightly as the reporting period for transactions completed in December extends to the end of this month.

The characteristic of Seocho and Gangnam, where the average actual transaction price exceeds 2 billion won, is that despite apartment prices plateauing after peaking in August last year, they remained unaffected.

The average actual transaction price of apartments in Seocho district rose from 2.136 billion won in January last year to 2.725 billion won in August. It settled in the 2.5 billion won range from September to November, but the average actual transaction price in December increased again to 2.759 billion won.

The average actual transaction price of apartments in Gangnam district also fell from 2.693 billion won in August last year to 2.522 billion won in September, but returned to the 2.6 billion won range in October.

In Yongsan, the price peaked at 2.91 billion won in September last year, then fell to 2.66 billion won in October, 2.039 billion won in November, and 2.073 billion won in December, but it still maintains the 2 billion won range.

Following Seocho, Gangnam, and Yongsan, the areas with the highest average actual transaction prices last year were Songpa (1.675 billion won), Seongdong (1.417 billion won), and Mapo (1.291 billion won).

The area with the lowest average actual transaction price in Seoul was Dobong district, at 554 million won. This is a difference of 4.6 times from the highest, Seocho district.

In the 25 districts of Seoul, the average actual transaction prices in 12 districts, including Gangbuk (607 million won), Nowon (610 million won), Geumcheon (621 million won), Jungnang (628 million won), and Guro (673 million won), were below 1 billion won.