Secho Homes Are More Expensive Than Apartments in Gangnam
kpride, March 2, 2015, 10:21 a.m.
The most expensive home in Seoul last year was the Hill compound in Hannam-dong in the tony central Seoul district, where an apartment went for W6.57 billion (US$1=W1,100). The Chosun Ilbo also found that Seocho District beat Gangnam District for the first time by a small margin to become the most expensive residential area in the capital. Gangnam had ranked first until 2013.
The average apartment sales price in Seocho last year was W885.1 billion, up 8.4 percent from a year earlier, while the price in Gangnam was W882.2 billion. The second most expensive apartment was a unit in Mark Hills in the Cheongdam-dong area of southern Seoul, which sold for W6.5 billion.
In third to fifth place were the Sangji Ritzville Caelum 2nd Complex in Cheongdam-dong, Applebaum in Nonhyun-dong, and Tower Palace in Dogok-dong. The only apartments north of the Han River that made it into the Top 10 were the Hill in Hannam-dong and Galleria Foret overlooking Seoul Forest in Seongsu-dong. Estate agent Lee Ki-sung said, "Luxury apartments offer both privacy and top-notch security. Other prerequisites are commanding views of the Han River or Mt. Nam and luxurious furnishings."