Apartment prices in Seoul move towards 5 billion won per unit... Banpo Acro River Park sold for 5.45 billion won

Trot singer Jang Yoon Jeong and his wife have sold the "Nine Won Hannam" apartment in Hannam-dong, Yongsan-gu, Seoul for 12 billion won.
Meanwhile, the large apartment complex "Banpo Acro River Park" in Banpo, Gangnam-gu, Seoul, made a profit of 5 billion won (
The transaction was worth approximately 560 million yen. The market for low-rise apartment buildings, known as villas, has weakened due to an increase in auction properties and a slump in reconstruction projects, while the market for expensive condominiums has seen a new boom.
Prices continue to reach new highs, and the expression "the era of 5 billion won per apartment" has become commonly used without any awkwardness.
According to the actual transaction price disclosure system of the Ministry of Land, Infrastructure and Transport of Korea on the 6th,
A 7-storey apartment with a 112-square-meter unit at Pura Acro River Park was traded for 5.45 billion won last month. The previous transaction price for the same apartment was 5 billion won in November 2023.
In July of last year, the Royal Floor on the 28th floor of the same apartment building was traded for the highest price of 5.5 billion won. As such, the average price per pyong (3.3 square meters) of large apartments in Gangnam-gu is 1.2 billion won.
The average price of apartments worth over 5 billion won reached 61 in the first four months of this year, up 79.4 percent from 34 in the same period last year.
This is a 19.6% increase from the 51 transactions between September and December of last year. In particular, there were 11 apartment transactions between January and April that were priced at 9 billion won or more, with two of those transactions being priced at 10 billion won.
Last year, there were 14 transactions worth over 9 billion won, but this year the number has already reached 11.
A total of four transactions were completed in Seongsu-dong and Samsung-dong, Gangnam-gu, and three transactions were completed in Hannam The Hill and Nine One Hannam in Hannam-dong in February, ranging from 9.55 billion won to 9.95 billion won.
In March, the Hyundai 7th Apartment in Apgujeong-dong, Gangnam-gu, Seoul was traded for 11.5 billion won.
Last month, a 244-square-meter apartment in Nine Won Hannam-dong was sold for 12 billion won.
The property was sold by Jang Yoon Jeong and his wife and changed hands. Yoon Ji, head of the Hyeri search team at the real estate information website "Real Estate R114," said,
"Demand for large-scale housing is high in cash assets, and these assets tend to increase during periods of rising interest rates."