Seoul apartment prices extended their gains last week, with one high-end complex recording a price jump of 910 million won ($673,000) in just eight months.
According to the Korea Real Estate Board on Wednesday, Seoul apartment sales prices rose 0.18% in the second week of December (as of Dec. 8), up 0.01 percentage point from the previous week's 0.17% increase.
Data from real estate platform Zigbang showed that the most expensive apartment transaction nationwide last week was at Asia Athletes' Village in Jamsil-dong, Songpa-gu, Seoul, where a 151-square-meter unit sold for 5.66 billion won, setting a new record high. The previous transaction in April was 4.75 billion won, representing an increase of 910 million won over eight months. The complex is considered one of the major large-scale reconstruction projects in the Gangnam area.
Other high-priced transactions included a 76-square-meter unit at Eunma Apartment in Daechi-dong, Gangnam-gu, which sold for 3.77 billion won, and a 130-square-meter unit at Helio City in Garak-dong, Songpa-gu, at 3.69 billion won. Units at Mokdong New Town 13 in Sinjeong-dong, Yangcheon-gu (151 square meters, 3.15 billion won) and Mokdong New Town 2 in Mokdong (95 square meters, 2.75 billion won) also traded at premium prices.
Meanwhile, Seoul's apartment jeonse (lump-sum deposit lease) market also maintained an upward trend, rising 0.15% and expanding by 0.01 percentage point from the previous week.
