[Asia Economy Reporter Ryu Tae-min] The sale price per 3.3㎡ (1 pyeong) of hazardous material storage and processing facilities in Cheongdam-dong, Gangnam-gu, Seoul, has been found to approach 400 million KRW. This is the highest sale price nationwide based on total floor area.
According to an analysis of actual transaction data from the Ministry of Land, Infrastructure and Transport by commercial real estate data specialist RSquare on the 10th, a total of 9,497 transactions (as of the 5th) were recorded this year for six types of non-residential facilities nationwide, including factories, warehouses, transportation facilities, and automobile facilities.
The facility with the highest sale price based on building total floor area was a hazardous material storage and processing facility located in Cheongdam-dong. With a total floor area of 457.5㎡, it was sold for 54 billion KRW in May. This equates to a sale price of 390.19 million KRW per 3.3㎡. The sale price based on total floor area was calculated only for properties with a building coverage ratio exceeding 50%.
Based on land area, the building with the highest price per pyeong was a factory in Seongsu-dong 2-ga, Seoul. A factory with a land area of 7.26㎡ and a total floor area of 37.83㎡ was sold for 723 million KRW, resulting in a sale price of 329.21 million KRW per 3.3㎡ of land area. Most buildings with high prices per pyeong based on land area were factories located in Seoul areas such as Seongsu-dong and Munjeong-dong.
The highest-priced transaction among the six types of non-residential facilities nationwide this year was a warehouse in Wonchang-dong, Seo-gu, Incheon, sold for 310 billion KRW. This warehouse, built this year, is a large logistics center with a land area of 44,488㎡ and a total floor area of 139,972㎡. It was sold at 7.32 million KRW per 3.3㎡ based on total floor area. For factories and warehouses, actual transaction prices may include the value of internal and external equipment and structures in addition to the building and land. RSquare explained that the actual transaction price of this warehouse appears to reflect the 'new construction effect.'
The region with the most active transactions for the six types of non-residential facilities this year was Gyeonggi Province. More than 40% of all transactions (3,875 cases) took place in Gyeonggi Province. An RSquare official analyzed, "As the metropolitan area is the center of industry and logistics, related facilities are concentrated nearby, leading to active transactions."
Seoul (1,288 cases) was the second most active region following Gyeonggi Province. Other regions with high transaction volumes included Gyeongnam (715 cases), Incheon (595 cases), Gyeongbuk (553 cases), and Busan (405 cases). Chungnam, Jeonnam, Chungbuk, and Jeonbuk followed in order of transaction volume.
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