The median price of Seoul apartments rose by 200 million won in a year, topping 1.2 billion won. Experts say the current upturn started in Gangnam, passed through the so-called "Mayongseong" (Mapo, Yongsan, Seongdong), and is spreading to the outskirts in a typical "rotational buying" pattern. They noted that the effective increase is steeper in mid- to low-priced areas.
According to the March dwelling price trends that KB Kookmin Bank released on the 15th, the median price of Seoul apartments reached 1.2 billion won, jumping about 4.35% from the previous month (1.15 billion won). Compared with March 2025 (990.83 million won), it rose by more than 200 million won in one year.
The median price is the price located in the exact middle when apartment sale prices are listed in order. It is considered a metric that more accurately reflects how ordinary working people and the middle class feel about the economy than the average price, which is heavily influenced by ultra-high-end complexes.
Among the 11 districts south of the Han River, the median price rose by 30 million won, from 1.51333 billion won in February to 1.54333 billion won in March. In the 14 districts north of the Han River, the median apartment price climbed by 20 million won from the previous month (893.33 million won) to 913.33 million won, topping 900 million won for the first time.
At landmark complexes in the Gangnam area, buying by asset holders less affected by loan regulations has continued, making transactions above 100 million won per 3.3 square meters commonplace. On Jan. 3 this year, a 103-square-meter exclusive unit at "THE H Xi Gaepo" in Irwon-dong, Gangnam-gu, transacted at 4.47 billion won, leading local prices. That was up 470 million won from the previous record (4 billion won).
In Jamsil-dong, Songpa-gu, the 137-square-meter exclusive units at "Lake Palace" have repeatedly seen 4-billion-won-level transactions this year, cementing Jamsil's "4 billion era." They transacted at 4 billion won in January, 4.15 billion won in March, and 4.02 billion won this month. Although slightly below the record high (4.28 billion won) in October last year, actual transactions in the stable 4-billion-won range have continued since the start of the year.
In Seocho-dong, Seocho-gu, the 115–119-square-meter exclusive units at "Seocho Gran Xi" set a record at 4.9 billion won in January this year, and then a unit of the same size changed hands at 5.15 billion won in March, setting a new high.
In the downtown and Ma-Yong-Seong (Mapo, Yongsan, Seongdong) areas, sale price increases centered on new and recently built landmarks outpaced the Seoul average. In Sinmunno 2-ga, Jongno-gu, a 148-square-meter exclusive unit at "D Palace" transacted at 4.75 billion won in January this year. That is 670 million won higher than the record high (4.08 billion won) in June 2023.
In Magok-dong, Gangseo-gu, an 84-square-meter exclusive unit at "Magok M Valley Complex 7" set a record at 1.98 billion won in January this year. Asking prices are currently around the 2.4 billion won level.
In the northeastern and outer areas, "catch-up" transactions are continuing. Landmark complexes in outer areas—the real driver of median price gains—are pushing up into the mid–1 billion won range.
In Gireum-dong, Seongbuk-gu, an exclusive 59-square-meter unit at "Raemian Gireum Centerpiece" saw actual transactions in the 1.2–1.3 billion won range last year, but set a new high at 1.54 billion won in February this year. Current asking prices are in the 1.4–1.7 billion won range.
In Junggye-dong, Nowon-gu, an 84-square-meter exclusive unit at "Geonyeong 3rd" transacted at 1.305 billion won in February this year, with prices recovering to near the previous high (1.398 billion won in 2021). For the same area in this complex, transactions were recorded at 1.258 billion won in February and 1.295 billion won in March this year, and current asking prices are around 1.2–1.35 billion won.
Ko Jun-seok, a professor at Yonsei University's Sangnam Institute of Management, said, "The rise in the median price means an upward trend in the prices of dwellings where many middle-class households live," adding, "The ultra-high-end market led by asset holders, who are less affected by government regulations, and the end-user market entering by maxing out the loan limit are clearly bifurcating."
Some also say fear of a supply shortage has spurred buying sentiment. Cho Young-gwang, a researcher at Daewoo Engineering & Construction Big Data Lab, said, "Recently, the gains at outer landmarks such as Seongbuk and Nowon (7–8%) are outpacing those in Gangnam (1–2%)," adding, "The learned effect that supply will be short and demand to buy a home before loan regulations tighten appear to have coincided with the early-year loan limit reset, stirring the market."