This year, 46% of apartment transactions in Seoul were found to be conducted at price levels of over 90% compared to the previous highest transaction price. In particular, 3 out of 10 apartment transactions in Gangnam District and Seocho District broke their previous records.
According to an analysis by Zigbang of the apartment transaction prices from the Ministry of Land, Infrastructure and Transport's real estate transaction disclosure system on the 10th, of the 5,983 apartment transactions in Seoul from January to February this year, 2,759 transactions (46%) were found to have been conducted at price levels of over 90% compared to the previous highest prices (from 2006 to 2024). The proportion of transactions conducted at price levels between 80% and 90% also accounted for 33%.
By region, Seocho District (87%), Gangnam District (86%), Mapo District (73%), Yongsan District (70%), Yangcheon District (65%), Songpa District (63%), Seongdong District (63%), Gwangjin District (56%), Jongno District (52%), Yeongdeungpo District (52%), and Gangdong District (51%) had the highest proportions of transactions.
In particular, the proportion of transactions that broke previous high prices exceeded 30% in Gangnam District (39%) and Seocho District (34%), indicating a significant price increase trend. Zigbang noted that continued demand, primarily for new complexes and luxury dwellings in the highly preferred areas of Gangnam, along with a distinct preference for complexes with Han River views and luxury housing, has led prices in those complexes to remain strong.
Nowon District (10%), Dobong District (13%), Gangbuk District (15%), Geumcheon District (15%), Gwanak District (16%), and Seongbuk District (18%) had a relatively low proportion of transactions conducted at price levels of over 90% compared to their previous peaks. The proportion of transactions conducted at prices below 70% of their peaks in Dobong District (30%) and Nowon District (29%) was found to have reached 30% in 2025.
A Zigbang official said, "Since the announcement of the release of the land transaction permit zone, the upward trend in the Gangnam area has become even more pronounced, and despite the announcement of a base rate cut, the market continues to show an atmosphere of localized preference," adding that "in popular areas like Gangnam, demand is concentrated, consistently driving up prices."
He went on to say, "Outer regions are still experiencing a contraction in transactions, with regional polarization becoming even more pronounced," and added that "rather than showing overall signs of recovery, the Seoul real estate market is expected to continue its localized upward trends."