- Seoul Apartment Q1 Transaction Volume and Sale Prices Rise... Optimism for Real Estate Market in Second Half
- 'Dogok by Kolon LSI' with Reasonable Prices and Excellent Quality, High Satisfaction, No Subscription Savings Account Needed
The Seoul real estate market, which had been frozen solid due to the interest rate hike trend and unstable market sentiment, is gradually showing signs of revival. The recovery of the market is becoming clear, with an increase in apartment sales transactions, raising expectations for the real estate market in the second half of the year.
Recently, the volume of apartment transactions in Seoul reflects the changing market atmosphere. According to the Seoul Real Estate Information Plaza, as of the previous day, the number of apartment sales transactions in Seoul last month was 3,058. This marks the third consecutive month exceeding 3,000 transactions, following 3,419 in May and 3,189 in April.
Apartment prices have also shown an upward trend. According to the Korea Real Estate Board, the actual transaction price index for Seoul apartments in the first quarter rose by 4.74%, ranking first among metropolitan cities nationwide. This is more than three times higher than the national average increase of 1.47%. Unlike weekly market trend surveys based on samples, the actual transaction price index is calculated by comparing the actual transaction prices of apartments with previous transaction prices and indexing them.
In fact, rising transactions are appearing mainly in preferred complexes such as the Gangnam 3 districts. According to the Ministry of Land, Infrastructure and Transport's real transaction price disclosure system, an 76㎡ unit in 'Eunma Apartment' in Daechi-dong, Gangnam-gu, was sold for 2.25 billion KRW on the 8th. This unit size had dropped to 1.795 billion KRW in January this year. An 84㎡ unit in 'Jamsil Els' in Jamsil-dong, Songpa-gu, which had fallen below 1.9 to 2 billion KRW in January, was traded for 2.35 billion KRW on the 14th. Similarly, an 84.94㎡ unit in 'Mapo Prestige Xi' in Yeomni-dong, Mapo-gu, was sold for 1.758 billion KRW last month, compared to 1.59 billion KRW in January for the same size.
This recovery in the real estate market is attributed to the government's regulatory easing combined with the recent end of interest rate hikes.
Given this situation, as opinions grow that purchases should be made before apartment prices rise further, demand is concentrating mainly on newly built apartments with high preference. In particular, ‘Dogok by Kolon LSI’, supplied recently in Dogok-dong, Gangnam-gu, opened its sample house on the 24th and has begun full-scale sales, attracting continuous visits from buyers.
‘Dogok by Kolon LSI’ is a residential-commercial complex apartment located near Dogok-dong, Gangnam-gu, Seoul, consisting of one building with 29 units, ranging from basement 2 floors to ground 10 floors. It is priced reasonably compared to existing Gangnam apartments, and contracts can be made on a first-come, first-served basis without a separate subscription savings account, lowering the threshold for home ownership.
A sales representative stated, “Dogok by Kolon LSI apartments are receiving positive responses from contract customers due to their reasonable prices compared to the surroundings and highly efficient space design. During the pre-opening period in June, an event is being held offering free washing machines and dryers to contract holders, and phone inquiries are steady.”
Located in Dogok-dong, which boasts the highest population density in Gangnam-gu due to its well-established infrastructure and pleasant environment, ‘Dogok by Kolon LSI’ is close to various schools such as Eonju Elementary, Yeoksam Elementary, Eunseong Middle, Dogok Middle, Daechi Middle, Eunkwang Girls' High, and Yangjae High. It also has a prestigious school district with the Gangnam Daechi-dong academy district, known as Seoul’s top educational hub.
Various convenience and shopping facilities are concentrated nearby. Residents can easily access Dogok 1-dong Community Service Center, Seoul Family Court, Gangnam Severance Hospital, CGV and Megabox cinemas, Lotte Department Store, Hyundai Department Store, E-Mart, and Starfield COEX Mall.
Residents can also enjoy a pleasant natural environment. Leisure activities are possible in various green and waterfront parks such as Maebongsan Dogok Park, Sarigogae Park, Maljukgeori Park, Yangjae Citizen’s Forest, and Yangjaecheon Stream.
In terms of transportation, Dogok-dong is conveniently served by Yangjae Station (Line 3 and Shinbundang Line) and Maebong Station (Line 3). The GTX-C line, connecting Deokjeong Station in Yangju, Gyeonggi Province, through Cheongnyangni Station and Samseong Station to Suwon Station (74.8 km), is scheduled to open in 2028, enabling a future triple station area. Road traffic is also convenient with Gangnam-daero and Nambu Sunhwan-ro as main axes, and Dogok-ro, Nonhyeon-ro, Eonju-ro, and Seolleung-ro extending, allowing easy access to anywhere in Seoul.
The area’s abundant development prospects also enhance its future value. According to the ‘Seocho-ro District Unit Plan Revision’ announced in 2020, sites such as the Lotte Chilsung site (42,312㎡), Lion Mising site (5,363㎡), and Samsung site (5,305㎡) along Seocho-daero will be designated as special planning zones and developed into an international business and commercial complex center.
Projects to underground the Gyeongbu Expressway and create a park above are also underway. This project involves undergrounding the 6.4 km section from Hannam IC to Yangjae IC on the Gyeongbu Expressway and is considered a major development boon for the Gangnam area. Additionally, developments such as the ‘Jamsil Sports and MICE Complex Private Investment Project’, the ‘Yeongdong-daero Complex Development Project’ in Samseong-dong, the International Exchange Complex District project, Hyundai Motor’s Global Business Center (GBC) construction, and the GTX-C line are progressing.
The complex offers a variety of unit types to broaden consumer choices. It consists of a total of 8 types, with the number of units per type as follows: ▶80㎡A 8 units, ▶60㎡B 8 units, ▶60㎡C 3 units, ▶97㎡E 4 units.
The units feature sophisticated space design that maximizes efficient flow and spatial aesthetics, providing ample storage space to enhance living convenience. There are a total of 31 parking spaces (excluding neighborhood facilities), securing a generous parking ratio of 1.1 spaces per unit.
Additionally, the complex is equipped with a smart home system considering convenience, safety, and energy saving, including home IoT controllable via mobile app for gas, door opening, motion sensors, and smart plugs; digital door locks; CCTV for main facilities such as front and back gates and parking lots; remote meter reading system; individual room temperature controllers; centralized lighting off and gas shut-off switches.
‘Dogok by Kolon LSI’ is an apartment with fewer than 30 units, requiring no subscription savings account, no restrictions on resale of pre-sale rights, and relatively fewer regulations due to recent easing of mortgage loan limits. Also, if only the down payment is paid, no interim loan is needed, and move-in is possible in September after the balance payment, attracting many inquiries from buyers and investors.
Currently, contracts are available on a first-come, first-served basis with unit and room number designation.
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