The photo caption reads “View of the apartment complex in downtown Seoul from Namsan. 2025.3.6/News1.”
The article mentions that “last month, the average transaction price for 84㎡ apartments, referred to as the standard apartment size in Seoul, exceeded 1.4 billion won. With continued reports of record prices in the three districts of Gangnam (Gangnam, Seocho, and Songpa), the polarization of housing prices is expected to deepen.”
According to an analysis by the real estate platform Zigbang of the Ministry of Land, Infrastructure and Transport’s real transaction system, Seoul’s average transaction price for an 84㎡ apartment in February was 1.438 billion won, up 5.14% from the previous month (1.368 billion won).
In the three Gangnam districts, the average transaction prices all exceeded 2 billion won, with Seocho-gu, having many new complexes near the Han River, at the highest with 3.14 billion won, followed by Gangnam-gu (2.706 billion won) and Songpa-gu (2.028 billion won). Following were Yongsan-gu (1.914 billion won), Jongno-gu (1.871 billion won), Seongdong-gu (1.611 billion won), and Mapo-gu (1.583 billion won).
The analysis also pointed out that 18 out of the 25 districts have average transaction prices lower than the overall average for Seoul, making it difficult to generalize the increase in apartment prices across the city. In some districts, the average transaction prices remain below 1 billion won: △600 million won range (Dobong, Gangbuk), △700 million won range (Guro, Geumcheon), △800 million won range (Nowon, Jungnang, Eunpyeong, Seongbuk), △900 million won range (Gwanak, Dongdaemun).
Zigbang analyzed that the expectation of a decrease in loan interest due to a base rate cut has led to increased transactions in some housing market areas. The release of the land transaction permit requirement in regions like Jamsil, Samsung, Daechi, and Cheongdam last month was also cited as a price increase factor.
A Zigbang representative stated, “The standard apartments are of interest to both end-users and investors because of their asset value preservation. Recently, there have been some price increases in the outskirts of Seoul as declining listings are being exhausted, but since active buying enthusiasm is not yet evident, whether apartment prices in Seoul will continue to rise remains to be seen.”