Seoul Top 1% Apartment Entry Price Falls to 4.65 Billion Won

Zigbang's analysis of nationwide apartment transaction data for this year's first half showed Seoul's top 1% apartment entry price at 4.65 billion won, down from 4.98 billion won in the same period last year. The decline in ultra-high-end prices contrasts with the overall upward trend in Seoul's apartment market. According to the Korea Real Estate Board, Seoul's apartment sales price index rose 5.74% this year.

Seoul Top 1% Apartment Prices Decline Year-Over-Year

Seoul's top 1% average transaction price reached 6.3 billion won this year, compared to 6.88 billion won last year. The top 1% entry price represents the baseline threshold for inclusion in the region's top 1% of transactions. Gyeonggi Province's entry threshold also decreased from 2.01 billion won last year to 1.85 billion won this year.

Regional Entry Prices Show Geographic Variation

Regional analysis revealed Gyeonggi Province's top 1% entry price at 1.85 billion won, followed by Daegu at 1.58 billion won, Busan at 1.53 billion won, and Sejong at 1.28 billion won. The metropolitan area apartment price index increased 3.66% this year, with Gyeonggi Province rising 3.32%.

High-End Transactions Concentrate in Han River and Redevelopment Areas

Zigbang attributed the top 1% market formation to transactions in existing high-priced complexes combined with new luxury residential developments. High-value transactions occurred primarily in Han River-adjacent areas, redevelopment projects, and newly constructed premium complexes. In Gyeonggi Province, transactions concentrated in areas with excellent Seoul accessibility or self-sufficient functions, including Gwacheon, Seongnam Bundang, Pangyo, and Dongtan.

Zigbang stated that while the metropolitan area formed a broad market with top-tier transactions across various complexes, regional markets showed transactions centered on landmark complexes representing each area. The company explained that differences exist in how top-tier markets form based on regional market size and high-end housing supply conditions.

FAQ

What is Seoul's top 1% apartment entry price for this year's first half?

Seoul's top 1% apartment entry price stands at 4.65 billion won for this year's first half, representing a decrease from 4.98 billion won in the same period last year.

How did Seoul's apartment market perform overall this year?

According to the Korea Real Estate Board, Seoul's apartment sales price index rose 5.74% this year, showing an overall upward trend despite the decline in top 1% segment prices.