Gangdong National Standard Apartment Joins the '2 Billion Won Club'... Godeok Gracium 84㎡ Sold for 2 Billion Won

Godeok Gracium 84㎡ Sold for 2 Billion Won Last Month
11 out of 25 Districts in Seoul Exceed 1.5 Billion Won for Mid-Sized Units

Aerial view of Godeok Gracium apartment complex in Godeok-dong, Gangdong-gu, Seoul (Photo by Ryu Taemin)

[Asia Economy Reporter Ryu Tae-min] Although some urgent sale properties are appearing on the outskirts of Seoul, and unusual trends continue, record-high transactions are taking place in the peripheral areas of Gangnam despite the transaction slump. Recently, in Gangdong-gu, an 84㎡ (exclusive area) apartment, known as the 'national standard size,' surpassed a real transaction price of 2 billion KRW for the first time. As a result, the number of districts among the 25 autonomous districts in Seoul where apartments of this size exceed 2 billion KRW has increased to 11.

According to the Ministry of Land, Infrastructure and Transport's real transaction price disclosure system on the 8th, an 84㎡ apartment in Godeok Gracium, Godeok-dong, Gangdong-gu, was traded for 2 billion KRW on the 16th of last month, marking an all-time high. This is the first case in Gangdong-gu where the real transaction price for this size exceeded 2 billion KRW.

Godeok Gracium, which has been occupied since September 2019, is a large complex with 4,932 households and has been leading the housing prices in the area since its occupancy. Among the newly built complexes in the Godeok district, including Godeok and Sangil-dong with about 17,000 households, it is forming the highest market price. The representative of a nearby A real estate agency said, "The entire Godeok district is gaining popularity due to the formation of a large-scale complex," adding, "Especially, Godeok Gracium, which is considered the flagship apartment, has high subway accessibility and thus commands the highest prices."

Prices of medium-sized apartments in nearby complexes also show a slight increase. On the 2nd of last month, an 84㎡ apartment in Godeok Arteon was traded for 1.81 billion KRW, and in September, the same size apartment in Godeok Raemian Hillstate was traded for 1.72 billion KRW, each rising by 10 million KRW compared to the previous record price.

Despite the transaction contraction, among the 25 autonomous districts in Seoul, 11 districts including Gangdong-gu have seen real transaction prices for 84㎡ apartments exceed 2 billion KRW. The 84㎡ apartment in Acro Riverheim, Heukseok-dong, Dongjak-gu, was traded for 2.5 billion KRW in August, marking the highest price among small apartments outside the Gangnam area. Medium-sized apartments in prime non-Gangnam areas such as Hangaram in Ichon-dong, Yongsan-gu (2.38 billion KRW), Raemian Wellstream in Hyeonseok-dong, Mapo-gu (2.3 billion KRW), Cheonggu Riverside in Seongsu-dong, Seongdong-gu (2.15 billion KRW), and Gyeonghuigung Xi 3rd Complex in Pyeong-dong, Jongno-gu (2.05 billion KRW) have also surpassed the 2 billion KRW mark this year.

Song Seung-hyun, CEO of Urban and Economy, explained, "Although apartment transaction volumes have decreased recently due to loan regulations, complexes exceeding 1.5 billion KRW, where loans are completely unavailable, are not affected by these regulations, so record-high prices continue." He added, "The high demand for a 'smart single property' due to increased taxes on multi-homeowners also seems to have influenced this trend."

This content was produced with the assistance of AI translation services.