Seoul apartment average prices exceed 1.6 billion won

The average selling price of apartments in Seoul has surpassed the 1.6 billion won mark for the first time. According to data from KB Real Estate, the average price reached 1.607 billion won in August, marking a continuous rise for 30 months.

Recent trends show significant price increases even in older properties. In Seongdong-gu's Oksu-dong, a 40-year-old apartment with two rooms saw its top-floor unit price jump from approximately 1.05 billion won to 1.79 billion won within just two years.

Growth in the city is currently being driven by outlying and northern districts, including Jungnang-gu, Seongbuk-gu, and Nowon-gu. Additionally, the median price for apartments in the 14 northern districts of Seoul has officially entered the 1 billion won range.