Last year, a survey revealed that apartment prices in the Gangnam and Seocho districts of Seoul exceeded 90 million won per pyeong.
The real estate information platform "Dabang" noted that based on the Ministry of Land, Infrastructure and Transport's actual transaction prices, it analyzed the transaction volume of Seoul apartments from 2014 to 2024, finding that the area with the highest average price per pyeong among the 25 autonomous districts was Seocho-gu, which recorded 92.85 million won. Gangnam-gu followed with 91.45 million won.
Following that, Yongsan-gu recorded 74.77 million won, Songpa-gu 67.62 million won, Seongdong-gu 60.83 million won, Mapo-gu 56.35 million won, and Gwangjin-gu 51.60 million won, indicating that these areas have an average price per pyeong exceeding 50 million won.
Compared to a decade ago in 2014, Seocho-gu increased by 209% from 30.03 million won. The next area with the highest average price increase was Seongdong-gu, which rose from 20.37 million won to 60.83 million won, marking a 199% increase. Following that, Yongsan-gu increased 188% from 26.01 million won to 74.77 million won, Mapo-gu increased 176% from 20.44 million won to 56.35 million won, Gangnam-gu rose 169% from 34.02 million won to 91.45 million won, and Seodaemun-gu increased 168% from 15.91 million won to 42.60 million won.
Meanwhile, according to Dabang's analysis, the average price per pyeong in the three districts of Gangnam (Gangnam, Seocho, Songpa) was 82.51 million won as of 2024, which is 1.9 times higher than the average price per pyeong of 42.83 million won in areas outside the Gangnam three districts. The increase rate compared to 2014 was 170% for the three districts, while other areas recorded 157%, indicating a gap of 13 percentage points.
A Dabang representative said, "Apartment prices in Seoul appeared to be temporarily stagnant in areas outside the three districts of Gangnam over the past two to three years, but overall, they have shown an upward trend over the last decade. Particularly, it has been observed that the prices in the traditionally affluent areas of Seocho and Gangnam continue to rise."