The Average Price of Seoul's Top 1% of Apartments Reaches 6.3 Billion Won, While the Provinces Range from 600 Million to 2.2 Billion Won

[Financial News] In the first half of this year, the average transaction price of the top 1% of apartment sales in Seoul exceeded 6.3 billion won, while major regional markets remained in the 600 million to 2.2 billion won range. Even in the ultra-luxury apartment market, the price gap between Seoul and the provinces was clear.
According to data released on the 20th by Zigbang, which analyzed actual apartment transaction records nationwide, the entry price for the top 1% of transactions in Seoul in the first half of this year was 4.64998 billion won. The average price of those deals was 6.3059 billion won.
Gyeonggi Province had the second-highest figures after Seoul, with a top 1% entry threshold of 1.85 billion won and an average price of 2.23468 billion won.
Among the provinces, Daegu and Busan posted relatively high top 1% price levels. In Daegu, the entry threshold was 1.58 billion won and the average was 1.90475 billion won. In Busan, the figures were 1.525 billion won and 2.1896 billion won, respectively. Sejong City followed with an entry threshold of 1.28 billion won and an average of 1.53944 billion won, while Daejeon recorded 1.16 billion won and 1.56042 billion won.
The regions with the lowest top 1% entry thresholds were South Chungcheong Province, Gangwon Province, and North Gyeongsang Province. South Chungcheong Province posted 750 million won and an average of 876.72 million won. Gangwon Province recorded 608 million won and 682.86 million won, while North Gyeongsang Province stood at 560 million won and 628.31 million won. The price differences in the ultra-high-end housing market by region were far from small.
Compared with last year, the benchmark for high-end apartment transactions in Seoul and Gyeonggi Province declined.
Seoul's top 1% entry threshold fell from 4.98 billion won in the first half of last year to 4.64998 billion won in the first half of this year. That means it dropped by more than 300 million won in a year. In Gyeonggi Province, the figure also fell from 2.01 billion won to 1.85 billion won over the same period.
In Seoul, high-end transactions were concentrated in apartments along the Han River area, redevelopment complexes, and newly built luxury developments. In Gyeonggi Province, top-tier deals were concentrated in areas with strong access to Seoul or self-sufficient urban functions, such as Gwacheon, Bundang, Pangyo, Gwanggyo New Town, and Dongtan.
In the provinces, top 1% transactions tended to cluster around landmark complexes in each region rather than being spread evenly across multiple developments, which pushed up price levels.

[email protected] Han Seung-gon Reporter