The increase of the apartment sales price quintile multiplier across the country
Seoul quintile ratio (5.0), highest for 2 months
Reports of high-rise complexes continue to emerge in Hannam-dong and other areas.
Jang Yun-jeong and Do Gyeong-wan are a married couple. [유튜브 캡처]
[헤럴드경제=고은결 기자] As the real estate recession continues, the gap in apartment sale prices between regions is widening dramatically. Recently, Do Gyeong-wan and Jang Yoon-jeong, a couple, sold their apartments for a market profit of 7 billion won, and in Seoul, the phenomenon of choosing between good and bad and the preference for ‘smart houses’ continues, and the upward trend in very high priced complexes is becoming more apparent. As the news of famous celebrities’ success in investing in extremely high-priced apartments continues to spread, the increasing transactions of very high-priced complexes seem to be attracting more public attention.
According to KB Real Estate’s monthly housing price trend time series on the 5th, the average sales price of the top 20% (5th quintile) of apartments nationwide in April was 1,217.51 million won, and the bottom 20% ( 1st quintile) was He earned 117.44 million. The quintile multiplier, which is the price of the top 20% divided by the price of the bottom 20%, was 10.4, an increase from the previous month (10.3). This is the highest level since January 2023 (10.4).
Previously, the national flat sale price quintile multiplier rose from 10.2 in September to 10.3 in October and remained unchanged until March this year. The quintile ratio of apartment sales prices in Seoul reached its highest level (5.0) last March, 5 years and 6 months since September 2018, and has remained unchanged for two months.
In fact, real transaction prices of high-priced apartments in major regions continue to rise, deepening polarization. For example, last month, a unique 244㎡ (73.81 pyeong) space for ‘Nine One Hannam’ in Hannam-dong, Yongsan-gu, Seoul was sold for 12 billion won, the highest price for the same unit. The sellers of the furniture in question were trot singer Jang Yun-jung and former publicist Do Kyung-wan. In March 2021, the couple received an exclusive use area of 244㎡ for this complex in their joint names for 5 billion won, which means they have earned a market profit of 7 billion won in 3 years and 2 months. This apartment is owned by famous celebrities such as BTS members RM and Jimin and Big Bang’s G-Dragon.
[헤럴드경제DB]
206㎡ only for Nine One Hannam was sold for 9.7 billion won in January and 9.95 billion won in February, hitting the highest price twice this year alone. In addition, ‘Hannam the Hill’ in Hannam-dong, which is known to be home to many celebrities and business figures, broke the record price by being traded for 9.55 billion won in February this year. Actors So Ji-sub and Ahn Sung-gi are known to live here. The 177㎡ unit in question was sold for the highest price of 7.43 billion won, which is 1.73 billion won higher than the transaction price two years ago.
A unique 175㎡ space for ‘iPark Samsung’ in Samseong-dong was contracted for 9 billion won in January this year. An apartment with the same area was sold for 6.2 billion won in July last year, but it jumps from 2.8 billion won in just half a year. The 223㎡ exclusive use of ‘Tower Palace Phase 2’ in Dogok-dong was sold for 7.3 billion won, breaking a new record. The previous highest price was 5.95 billion won, traded in October 2022.
Meanwhile, the gap between apartment sales prices in Seoul’s Gangnam 3 areas, where high-priced apartments are concentrated, and other areas is also widening. According to survey results by Woori Bank’s Asset Management Consulting Center, the price difference between apartments in Gangnam 3-gu and other areas of Seoul, which had narrowed to 31.78 million won per 3.3 m2 in 2022, widened from 33.09 million won in 2023 to 33.72 million won in March 2024. Ham Young-jin, head of Woori Bank’s Real Estate Research Laboratory, analyzed, “During the market downturn, the choice of consumer assets is limited, and differentiation in high-demand areas is increase.”
keg@heraldcorp.com
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