The apartment prices in the southern and northern regions of Seoul have widened to the largest gap in history.
Real estate R114 reported on the 27th that the average selling price per 3.3㎡ of apartments in 11 districts south of the Han River in April was 53.34 million won, which is 20.08 million won higher than the average selling price per 3.3㎡ of apartments in 14 districts north of the Han River (33.26 million won). This gap is the largest monthly gap since real estate R114 began monitoring apartment sale prices in 2000.
Compared to the same period last year (April 2024), the northern district saw an increase of 7.4% (30.97 million won to 33.26 million won), while the southern district rose by 12.7% (47.35 million won to 53.34 million won).
By autonomous district, the southern region saw significant price increases from the previous year, with Seocho-gu rising by an average of 10.94 million won per 3.3㎡, Gangnam-gu by 10.11 million won, and Songpa-gu by 8.91 million won. Seocho-gu experienced significant price surges due to expected redevelopment projects in areas such as Jamwon and Banpo-dong, while Gangnam-gu increased prices in Apgujeong-dong and Songpa-gu in Jamsil and Sincheon-dong, focusing on near-new apartments built within 10 years.
In the northern region, the price increases were most notable in the Han River belt, with ▲Seongdong-gu (5.37 million won), ▲Yongsan-gu (4.78 million won), ▲Gwangjin-gu (4.63 million won), and ▲Mapo-gu (4.54 million won) showing significant gains. Landmark complexes representing the area, such as "Trimage" in Seongdong-gu, "Nine One Hannam" in Yongsan-gu, "Walkerhill" in Gwangjin-gu, and "Mapo Raemian Prugio" in Mapo-gu, led the price increases, and these complexes continue to see record transactions even in April and May.
Real estate R114 noted that the price disparity between apartments in the southern and northern regions of the Han River has not narrowed over the past two years (April 2023 to April 2025) and specifically said that the price increase potential along the Han River belt, particularly in the three southern districts facing Gangnam, is significant, leading to an expected acceleration in the widening gap of housing prices.
Baek Saerom, lead researcher at real estate R114, explained that although the housing prices in autonomous districts such as Yongsan-gu and Seongdong-gu, located along the Han River, have increased, the gap between the southern districts, specifically Gangnam-gu and Seocho-gu, widened because they surged over 10 million won throughout the year. Baek added that the preference for "exceptional dwellings" is expected to intensify, and the upward price pressures for dwellings centered on high-quality properties remain, indicating the possibility of expanding price differences between the southern and northern regions centered around the Han River.