This year, the proportion of high-priced apartments worth more than 1.5 billion won in total transactions was found to be the highest in the past five years. Transactions of high-priced apartments worth more than 1.5 billion won are steadily increasing every year.
A view of an apartment complex in downtown Seoul as seen from Namsan Seoul Tower in Jung-gu, Seoul. Reporter Jaewon Moon
According to data on the actual transaction prices of apartments by year since 2020 submitted by the office of Democratic Party lawmaker Lee Yeon-hee from the Ministry of Land, Infrastructure and Transport on the 20th, the total number of apartment sales nationwide from January to August of this year (as of the 9th of last month) was 303,890.
Among these, there were 10,221 apartments with a transaction amount of more than 1.5 billion won, or 3.36% of all transactions. This is the first time since 2020 that the proportion of apartment transactions worth 1.5 billion won or more exceeds 3%. The transaction proportion of high-priced apartments worth over 1.5 billion won is steadily increasing, including 1.19% in 2020, 1.57% in 2021, 1.01% in 2022, and 2.03% last year.
Most apartment transactions worth more than 1.5 billion won occurred in Seoul. This year, the number of apartment transactions worth more than 1.5 billion won in Seoul was 8,460, accounting for 82.77% of the transactions (10,221 cases) worth more than 1.5 billion won concluded nationwide. This means that more than 8 out of 10 apartment transactions worth more than 1.5 billion won nationwide are located in Seoul.
Transactions in high-priced apartments were mainly conducted in large apartment complexes in Songpa-gu and Gangdong-gu, Seoul. This is the result of increased demand for ‘replacement’ as real estate prices rise and the phenomenon of single-family homes intensifies. It is analyzed that the lifting of loan regulations last year for apartments exceeding 1.5 billion won in regulated areas also had an impact on the recovery in transaction volume.
According to the real estate information platform ‘Actual Apartment Transaction Price’, the apartment with the highest transaction volume in Seoul was ‘Helio City’ in Garak-dong, Songpa-gu. From January to August this year alone, 301 contracts were signed. Compared to the ‘transaction cliff’ period from January to August 2022 (38 cases), the transaction volume has increased nearly eight times in two years. ‘Parkrio’ in Sincheon-dong, Songpa-gu (269 transactions), ‘Godeok Grasium’ in Godeok-dong, Gangdong-gu (215 transactions), and ‘Mapo Raemian Prugio’ in Ahyeon-dong, Mapo-gu (177 transactions) also followed with high transaction volumes.
This year, transactions worth more than 3 billion won were actively taking place, reaching the highest level in the past five years. From January to August this year, there were 1,393 transactions worth more than 3 billion won nationwide (0.46% of all transactions). In 2020, there were only 766 (0.09%) transactions worth 3 billion won or more, but the proportion is increasing every year, with 1,062 (0.18%) in 2021, 480 (0.19%) in 2022, and 919 (0.24%) in 2023. .
In particular, there were 1,334 transactions worth more than 3 billion won in Seoul this year, the most since 2020. There were 750 cases in 2020, 1,030 cases in 2021, 448 cases in 2022, and 870 cases in 2023.
