"Is Gukpyeong Apartment Worth 6 Billion?"... The Complex with the Highest Price Transactions

All Top-Ranked Apartments Located Along the Hangang River

Among the top 10 highest-priced "national standard size" (Gukpyeong) apartments traded in Seoul this year, 7 are located in the Raemian One Bailey complex in Banpo-dong, Seocho-gu, Seoul.

On the 16th, real estate platform Zigbang analyzed the transaction prices of apartments with exclusive areas of 84 to 85㎡ traded in Seoul this year. The most expensive apartment was Raemian One Bailey, which was traded for 6 billion KRW on the 2nd of last month. This is the first time the Gukpyeong transaction price of Raemian One Bailey reached 6 billion KRW, which translates to about 176 million KRW per 3.3㎡ (1 pyeong).

The 2nd place was also Raemian One Bailey, traded for 5.5 billion KRW on the 18th of last month, and the 3rd place was Acro River Park, traded for 5.1 billion KRW on the 7th of last month. Following that, Raemian One Bailey and Acro River Park, each traded for 5 billion KRW, tied for 4th place. Subsequently, 6th, 7th, 9th, and 10th places were all occupied by Raemian One Bailey. In total, 7 out of the top 10 apartments by transaction price were Raemian One Bailey.

Raemian One Bailey and Acro River Park are the only apartments in Seoul where the national standard size apartments were traded above 5 billion KRW, and both are located in Banpo-dong, Seocho-gu, Seoul. Aside from these, the only other apartment to make it into the top 10 was Hyundai 14th Apartment in Apgujeong-dong, Gangnam-gu, traded for 4.7 billion KRW on the 6th.

Raemian One Bailey in Banpo-dong, Seocho-gu, Seoul is truly the center of the super-rich. Securities firms are concentrated in the One Bailey shopping area. Photo by Jo Yongjun jun21@

Even when expanding the ranking to the top 20, high-priced transactions in the Gangnam area were concentrated in these three complexes. From 11th to 20th place, there were 4 Raemian One Bailey units, 4 Acro River Park units, and 2 Hyundai 14th Apartment units in Apgujeong.

Experts interpret the high demand for Raemian One Bailey and Acro River Park as being due to their status as newly built large complexes located along the Han River. Unlike other Gangnam areas, these complexes are not subject to land transaction permission zones, which also seems to have an impact.

In the case of Hyundai in Apgujeong, despite being designated as a land transaction permission zone as a major Han River redevelopment project, high-priced transactions continue.

Kim Eun-sun, head of the Big Data Lab at Zigbang, said, "There is a pattern of continuous record-breaking prices in these complexes. These complexes themselves have established their value, and with limited listings, the trend of record-breaking prices is expected to continue."