I Thought Only Academy Fees Were High... Daechi-dong Home Prices Are KRW 200 Million Above the Gangnam Average [Real Estate A to Z]

Mok-dong Apartments Cost KRW 380 Million More Than the Yangcheon-gu Average
Price Gaps in Pyeongchon and Dongtan Widened Further Over the Past Year

Apartment sale prices in areas densely populated with well-known private academies were found to be hundreds of millions of won higher than in other neighborhoods in the same district.

According to data from Real Estate R114 on October 21, the average apartment sale price per 3.3 square meters in Daechi-dong, Gangnam-gu, Seoul, a major private academy district, was KRW 105.3 million as of September. That was KRW 6.8 million higher than the Gangnam-gu average of KRW 98.5 million.

Applied to an exclusive area of 84 square meters, the difference means an apartment in Daechi-dong costs about KRW 231.2 million more. Even within Gangnam-gu, buyers need to spend that much more to purchase a home in Daechi-dong.

A banner promoting students' acceptance to medical schools hangs on the exterior wall of an academy in Daechi-dong, Gangnam-gu, Seoul. Photo by Kang Jinhyung.

Mok-dong in Yangcheon-gu had an even larger gap compared with the district average. The average sale price in Mok-dong was KRW 66.3 million per 3.3 square meters, KRW 11.23 million higher than the Yangcheon-gu average of KRW 55.07 million. The price difference for a 34-pyeong apartment amounted to about KRW 380 million.

A similar pattern was seen in Gyeonggi Province. The sale price per 3.3 square meters in Pyeongchon-dong, Dongan-gu, Anyang, was KRW 36.41 million, 26% (KRW 7.56 million) higher than the Anyang average of KRW 28.85 million. Bansong-dong in Hwaseong, home to the private academy district in Dongtan 1 New Town, averaged KRW 23.35 million. That was 17% higher than the Hwaseong average of KRW 20.03 million. Based on an exclusive area of 84 square meters, Pyeongchon-dong was about KRW 260 million more expensive and Bansong-dong about KRW 110 million more expensive.

Pyeongchon-dong and Bansong-dong widened their price gaps with their respective local averages over the past year. From September 2025 to September 2026, prices in Pyeongchon-dong rose by KRW 5.47 million per 3.3 square meters, KRW 1.72 million more than the average increase of KRW 3.75 million in Anyang.

Bansong-dong prices also rose by KRW 2.95 million, exceeding the average increase of KRW 2.32 million in Hwaseong. Neighborhoods with private academies that were already expensive saw even larger increases.

Home Price Comparison in Major Academy Districts. Real Estate R114

In the provinces, Beomeo-dong in Suseong-gu, Daegu, stood out. The average sale price was KRW 30.79 million per 3.3 square meters, 2.6 times the Daegu-wide average of KRW 11.85 million. Based on an exclusive area of 84 square meters, the price difference was about KRW 643.96 million, larger than in the Seoul metropolitan area.

Industry observers say demand from parents who prioritize access to private academies supports nearby home prices. Living close by can reduce the burden of dropping children off at and picking them up from academies.

A real estate industry official said, "For families with school-age children, who can be considered a key group of homebuyers, educational conditions are one of the most important factors in choosing a location. In particular, amid a private education boom so intense that the practice of 'riding' children to and from academies has become commonplace, proximity to a large private academy district is a major factor influencing home prices."

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