Dabang: 30-Pyeong Apartment in Seoul Now 1.36 Billion Won... Jeonse Up 7% for Every 1% Rise in Sale Price [Real Estate AtoZ]
Seoul Apartment Sale and Jeonse Trends in the Second Quarter
Yongsan-gu Home Prices Rise 27%... Geumcheon-gu Up 14%
As of the second quarter of this year, the average price to purchase an apartment of approximately 99 square meters (around 30 pyeong) in Seoul is estimated at 1,359.4 million won. This marks a 1.3% increase from a year earlier. The burden of jeonse prices has grown even heavier, rising 7.2% year-on-year; the average jeonse price now stands at 733.42 million won.
Dabang, a real estate information platform, announced on the 30th that it has published the "Apartment Multi-Room Map" which clearly summarizes the buying and jeonse prices for 84 square meter apartments—a size in high demand—in Seoul.
The most expensive area for housing in Seoul was Seocho-gu, where the average price for an apartment of about 99 square meters exceeded 3.37 billion won, making it two and a half times more expensive than the Seoul average. Jeonse prices in Seocho-gu were also the highest in the city, averaging around 1.17 billion won. The next most expensive districts were Gangnam-gu, Songpa-gu, and Yongsan-gu, in that order.
Over the past year, Yongsan-gu experienced the steepest housing price increase, with apartment prices surging by 27%, the highest growth among Seoul districts. This was followed by Gwangjin-gu (19.3%), Jung-gu (15.3%), and Geumcheon-gu (13.9%), which all saw significant increases in home prices as well.
Jeonse prices rose in 24 out of 25 districts, with Eunpyeong-gu being the only exception. In particular, Gangbuk-gu saw jeonse prices soar by over 20% in just one year, making it the area where tenants' financial burden increased the most.
Dabang explained that this map was created based on actual transaction prices provided by the Ministry of Land, Infrastructure and Transport so that local housing price levels in Seoul can be easily understood at a glance. It plans to create and release these maps every three months to help people easily track apartment price trends.
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