Among the Top 10 Largest Declines in New 1-Year Lows, 9 Are 'Seoul Apartments'

Analysis of Real Estate Platform Zigbang

[Asia Economy Reporter Kim Min-young] Among the nationwide apartments traded this year, 9 out of 10 complexes that recorded new lowest prices within the past year were apartments in Seoul.

On the 8th, Zigbang analyzed nationwide apartments traded from the 7th of last month to the 4th of this month through the Ministry of Land, Infrastructure and Transport's real transaction price disclosure system, revealing that 9 out of the top 10 complexes with the largest price drops to new lows within the past year were apartments in Seoul.

[Image source=Yonhap News]

The apartment with the largest price drop was the 'Saemteo Maeul' in Irwon-dong, Gangnam-gu, Seoul, with a exclusive area of 134.4㎡, which was brokered last month for 1.93 billion KRW. This is 820 million KRW lower than the lowest price within the past year of 2.75 billion KRW (April last year).

The 'Banpo Summit' 85㎡ in Banpo-dong, Seocho-gu, Seoul, was traded at 3.1 billion KRW in April last year but was brokered at 2.45 billion KRW in January this year, down 650 million KRW, marking the second largest price drop. The 'Sibeom Hanyang' 164.2㎡ in Seohyeon-dong, Bundang-gu, Seongnam-si, Gyeonggi Province, was brokered at 1.47 billion KRW, down 630 million KRW from the lowest price within the past year of 2.1 billion KRW (May last year).

Among apartments completed and occupied since 2006, the apartment with the largest price drop compared to the all-time lowest price was 'Raemian Mokdong Adelice' in Sinjeong-dong, Yangcheon-gu, Seoul. The 84.9㎡ unit in this complex was brokered last month at 1.24 billion KRW, down 540 million KRW from the previous lowest price of 1.78 billion KRW.

The Mokdong Central I-Park Weave 2 Complex 85㎡ in Sinwol-dong, Yangcheon-gu, fell 360 million KRW from the previous lowest price of 1.23 billion KRW (November 2020), and the 85㎡ unit in the 1 Complex of this apartment was traded at a price 326 million KRW lower than the lowest price of 1.15 billion KRW in July 2020, following closely behind.

On the other hand, among apartments that recorded new highest prices within the past year, the apartment with the largest price increase was the 'Penthouse' 115.8㎡ in Singongdeok-dong, Mapo-gu, Seoul, which recorded the highest price within the past year of 1.3 billion KRW (December last year) but was brokered last month at 1.85 billion KRW, up 550 million KRW.