In March, the areas of Gangnam 3 and Yongsan designated as land transaction permit zones (land transaction permit system) saw an increase in apartment transactions in May. Despite nearly a month left for the transaction reporting period, the April transaction volume was surpassed.
According to the Seoul Real Estate Information Center, as of June 6, transactions of Seoul apartments in May recorded 5,478 cases. This is more than the transaction volume in April (5,368 cases).
Considering there is still time until the reporting deadline at the end of this month, the final transaction volume is expected to exceed 7,000 cases.
Especially, since the expansion of the land transaction permit system, the apartment transactions in Gangnam 3 and Yongsan, which had decreased earlier, have surpassed the previous month's transaction volume.
In Gangnam, the number grew from 108 cases in April to 153 cases in May. Seocho (49 cases → 96 cases), Songpa (129 cases → 142 cases), and Yongsan (38 cases → 44 cases) also increased.
In Seocho District, transactions centered on Banpo are continuing. The average selling price of apartments in Seocho also rose from 2.07531 billion won in April to 2.5098 billion won in May.
The 84㎡ unit at Acro River Park in Banpo changed hands for 5.65 billion won on the 1st of last month, setting a new reporting record. Compared to the same area sold for 4.79 billion won in February before the land transaction permit system was expanded, it saw an increase of nearly 1 billion won.
The 107㎡ unit at Sinbanpo 2nd in Jamwon-dong recorded a transaction at 5.45 billion won on the 13th, setting a new reporting record. This is an increase of about 600 million to 900 million won compared to the same area that traded in the range of 4.5 to 4.8 billion won in March.