Average Price of Small and Medium-Sized Apartments in 11 Gangnam Districts of Seoul Surpasses 1.8 Billion Won for the First Time

"Leveling Out" Phenomenon Observed North of the Han River as Apartment Prices Converge Around 1.5 Billion Won

View of apartment complexes and other parts of Seoul city from Namsan, Seoul. Photo by Yonhap News Agency

According to KB Kookmin Bank's market data, last month the average price of small to medium-sized apartments in 11 districts south of the Han River surpassed 1.8 billion won.

On February 2, KB Real Estate reported that in January, the average price of small to medium-sized apartments (with an exclusive area of over 60 square meters and up to 85 square meters) in the 11 districts south of the Han River (Gangnam, Seocho, Songpa, Gangdong, Yangcheon, Gangseo, Yeongdeungpo, Dongjak, Gwanak, Guro, and Geumcheon) was 1,802.69 million won. This represents a 0.96% increase from December 2025 (1,785.61 million won), marking the first time that the average price for small to medium-sized apartments in Seoul has exceeded 1.8 billion won.

For example, a 84.87-square-meter unit in Samho Hansup, Bangbae-dong, Seocho District, was sold for 1.81 billion won (4th floor) on January 27. This is an increase of about 300 million won compared to the previous record price of 1.52 billion won (11th floor) set on May 2, 2023.

Similarly, an 84.755-square-meter unit in Samik Green 2nd Complex, Myeongil-dong, Gangdong District, was sold for 2 billion won (8th floor) on January 26. After two units of the same size were sold for 1.91 billion won (3rd floor) and 1.95 billion won (2nd floor) in October last year, the price surpassed the 2 billion won mark in about three months.

For small to medium-sized apartments north of the Han River priced at 1.5 billion won or less, where the full loan amount of 600 million won is available, there is a trend of so-called "leveling," with sale prices converging toward 1.5 billion won.

Last month, the average price of small to medium-sized apartments in the 14 districts north of the Han River (Jongno, Jung, Yongsan, Seongdong, Gwangjin, Dongdaemun, Jungnang, Seongbuk, Gangbuk, Dobong, Nowon, Eunpyeong, Seodaemun, and Mapo) reached 1,104.19 million won, up 0.83% from December 2025 (1,095.10 million won), surpassing the 1.1 billion won mark for the first time.

In the case of an 84.98-square-meter unit in Taereung Harrington Place, Gongneung-dong, Nowon District, a contract was signed for 1.195 billion won (12th floor) on January 20, setting a new record for this unit size. This is 35 million won higher than the previous record of 1.16 billion won (15th floor) set in November 2025.

Meanwhile, a 74.78-square-meter unit in DMC Fine City Xi, Susaek-dong, Eunpyeong District, was traded for 1.293 billion won (2nd floor) on January 14. Compared to a similar-sized 74.84-square-meter unit that sold for 1.245 billion won (3rd floor) on November 22, 2025, the price increased by about 50 million won in two months.