首尔公寓预售价格在重建热潮中三年内上涨66%

Seoul apartment presale prices rose 66% over three years to an average of 59.05 million won per 3.3 square meters this year, driven by increased construction costs, labor expenses, and land prices, according to Woori Bank Real Estate Research Lab. The price gap between areas north and south of the Han River expanded dramatically from 1.94 million won per 3.3 square meters in 2023 to 13.45 million won this year. The surge reflects concentrated supply of high-priced redevelopment and reconstruction projects in Gangnam's three districts, Dongjak-gu, and Yeongdeungpo-gu, with regional disparities in Seoul's apartment market intensifying as premium location preferences strengthen.

Seoul Apartment Presale Prices Show 66% Three-Year Increase

Woori Bank Real Estate Research Lab data shows Seoul's average apartment presale price reached 59.05 million won per 3.3 square meters this year, marking a 66% increase over the past three years. The price differential between Han River north and south regions widened significantly, growing from just 1.94 million won per 3.3 square meters in 2023 to 13.45 million won this year.

Ham Young-jin, director of Woori Bank Real Estate Research Lab, stated the expansion stems from concentrated supply of high-priced redevelopment and reconstruction complexes in Gangnam's three districts, Dongjak-gu, and Yeongdeungpo-gu. While presale price caps limited increases in Gangnam's three districts, consecutive high-priced complexes emerged in non-Gangnam core areas including Dongjak-gu, Seongdong-gu, and Yongsan-gu, gradually expanding the geography of premium-priced developments.

Source: Woori Bank Real Estate Research Lab

Woori Bank Analyst Attributes Price Gap to Redevelopment Concentration

Ham noted that construction cost pressures derived from high oil prices remain persistent, and Seoul's new supply continues to center on redevelopment projects, suggesting apartment presale prices may maintain high levels throughout the year. He added that as preferences for prime locations intensify—reflecting the "one solid property" investment approach—price gaps are likely to persist with concentration in specific regions.

The analyst emphasized supply costs including construction expenses, labor costs, and land prices as primary drivers of the three-year price surge. The presale price cap system applied to Gangnam's three districts resulted in relatively limited price increases in those areas compared to emerging high-price zones in other Han River-adjacent districts.

FAQ

What caused Seoul apartment presale prices to rise 66% over three years?

Seoul apartment presale prices increased 66% over three years due to rising construction costs, labor expenses, and land prices, according to Woori Bank Real Estate Research Lab. The average presale price reached 59.05 million won per 3.3 square meters this year.

Why did the price gap between Han River north and south regions widen?

The price gap between Han River north and south regions expanded from 1.94 million won per 3.3 square meters in 2023 to 13.45 million won this year because high-priced redevelopment and reconstruction projects concentrated in Gangnam's three districts, Dongjak-gu, and Yeongdeungpo-gu, while non-Gangnam core areas like Dongjak-gu, Seongdong-gu, and Yongsan-gu saw consecutive high-priced complex launches.

How did presale price caps affect Gangnam apartment prices?

Presale price caps applied to Gangnam's three districts resulted in relatively limited price increases in those areas, while non-Gangnam core regions experienced more significant price surges as high-priced complexes emerged without the same regulatory constraints, according to Woori Bank Real Estate Research Lab director Ham Young-jin.