"They used to say, 'Right below heaven is Bundang'... 1.7 billion won once seemed expensive, but now it has even outpaced Gangnam"

In the Seoul metropolitan area, Seongdong District in Seoul recorded the highest increase in the actual transaction price index for apartment sales last year, rising 25%. In contrast, Icheon City in Gyeonggi Province saw the steepest decline, with prices falling by about 9%.
An analysis of the apartment sales actual transaction price index recently released by the Korea Real Estate Board (KREB) on the 21st shows that Seoul rose 13.49% last year. Gyeonggi Province recorded 3.83%, Incheon Metropolitan City -0.24%, and the provinces 0.20%. A notable feature was the particularly sharp increases concentrated in certain areas centered on Seoul.

Looking at the 2025 actual transaction price index for apartment sales in Seoul, it was the highest since 2020 (23.04%), the peak of the housing price surge. Based on this index, the all-time record for price growth was in 2020 under the Moon Jae-in administration.
Among areas in the Seoul metropolitan area, Seongdong District posted the highest apartment price growth last year, jumping 25.62%. In Seongsu-dong, a 273-square-meter unit in Acro Seoul Forest changed hands for 2.9 billion won in June last year.
Next were Songpa District in Seoul (23.87%), Gwacheon-si in Gyeonggi Province (23.35%), Bundang District, Seongnam (23.31%), and Gwangjin District in Seoul (22.88%). Gwacheon and Bundang both outpaced Gangnam District and Seocho District in terms of price growth.

In Gwacheon-si, the highest transaction price last year for an 84-square-meter unit was 2.8 billion won at Gwacheon Prugio Summit. In 2024, the same complex and same size unit sold for 2.29 billion won. That means an increase of roughly 500 million won in just one year. In Bundang, a standard 84-square-meter unit at Yangji Maeul Hanyang 5th Complex set a record high of 2.09 billion won in October last year, after having sold in the 1.7 billion won range a year earlier.
On the other hand, several areas saw prices remain largely flat or decline. An analysis of KREB’s actual transaction price index shows that, within the Seoul metropolitan area, 35 jurisdictions recorded apartment sales price changes of only around 1% or even declines.
More specifically, Icheon City in Gyeonggi Province posted the largest drop, with a change of -8.97%. Pyeongtaek-si, where a large volume of new supply has come on the market, fell 7.32%, and Paju-si declined 4.07%. Ilsanseo District and Ilsandong District, which make up Ilsan New Town, also saw sizable declines in actual transaction prices.

In Seoul, all 25 districts recorded positive annual growth, but Geumcheon District had the smallest increase at 1.54%. Dobong District rose 2.34%, Jungnang District 3.63%, and Gangbuk District 3.69%, with most outlying districts posting relatively modest gains.
Meanwhile, Seoul’s apartment actual transaction price index in December last year rose 0.35%. This was a marked slowdown from November’s 1.28%. The provisional index for January this year stands at 0.46%.
ljb@fnnews.com Lee Jong-bae Reporter