"Who Paid 12 Billion Won for a Han River-View Unit on a 'Royal Floor'?"... Banpo Raemian One Bailey Sets New Record

Up 1.45 billion won from the previous record high
116.95-square-meter unit sells for 9.4 billion won

An 133.95-square-meter unit (formerly classified as a 52-pyeong unit) at Raemian One Bailey in Banpo-dong, Seocho-gu, Seoul, sold for 12 billion won, more than 1.4 billion won above its previous transaction price, setting a new record high.

According to the Ministry of Land, Infrastructure and Transport's actual transaction price disclosure system on October 24, a 22nd-floor, 133.95-square-meter unit at Raemian One Bailey was sold for 12 billion won on September 22. The price was up 1.45 billion won, or 13.7%, from the previous sale of a unit of the same size for 10.55 billion won, contracted in May. The property is reportedly in a so-called “royal building, royal floor” with a direct view of Banpo Hangang Park and the Han River.

Raemian One Bailey complex in Banpo-dong, Seocho-gu, Seoul. Reporter Cho Yongjun.

After the announcement of a tax reform plan in August 2026 that included higher taxes on high-value homes, housing prices in Gangnam weakened. However, record-high prices continue to be set at this complex, particularly for larger units. On September 21, a 116.95-square-meter unit on the 21st floor sold for 9.4 billion won. That was a record high, 900 million won above the previous transaction price of 8.5 billion won for a ninth-floor unit, contracted two months earlier in July.

By contrast, prices for small- and medium-sized units are weakening. The price of an 84-square-meter unit rose to 7.15 billion won in May (Building 102, 13th floor), but most such units have fallen to the 5.6 billion to 6 billion won range since June. A 59.96-square-meter unit sold for 4.8 billion to 4.85 billion won in September, below the 4.95 billion won transaction price recorded in February.

Raemian One Bailey was developed through the integrated reconstruction of Shinbanpo 3rd Complex and Gyeongnam Apartments, and was completed in August 2023. The apartment complex comprises 2,990 units across 23 buildings, with up to 35 floors above ground and four basement levels. Residents can walk to Express Bus Terminal Station on Subway Lines 3, 7 and 9, and to Sinbanpo Station on Line 9. The complex is also close to the shopping district around the Express Bus Terminal, including Shinsegae Department Store's Gangnam branch. Its northern side borders Banpo Hangang Park, and some upper-floor, large-size units in certain buildings offer views of the Han River.

Meanwhile, according to actual transaction data from the Ministry of Land, Infrastructure and Transport, the highest-priced apartment sale in Seoul this year was for a 273-square-meter unit at Nine One Hannam in Hannam-dong, Yongsan-gu. The unit sold for 26.3 billion won on August 27, 2026, surpassing the complex's previous record of 25.5 billion won. Based on its 100-pyeong gross floor area, the price comes to more than 260 million won per 3.3 square meters, making it the second-highest price ever recorded in South Korea's apartment market.

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