Following Jongno-gu in downtown Seoul, the re-entry into the ‘2 billion won club’ of an 84㎡ exclusive area apartment in Mapo-gu has also entered the visible range. It is evaluated that the recent rise in house prices is notable based on its location close to key business areas such as Gwanghwamun and Yeouido.
According to the Ministry of Land, Infrastructure and Transport’s actual transaction price disclosure system on the 11th, 84㎡ exclusively for Mapo Prestige Xi in Yeomni-dong, Mapo-gu was traded for 1.92 billion won this month. Just last January, it changed hands at 1.59 billion won, but it has jumped 330 million won in 7 months and is approaching the previous high of 2 billion won. The property was also listed for 2.05 billion won. The price of an exclusive 59㎡ unit in this complex, which was trading in the high 1.2 billion won range in March, rose to 1.53 billion won last month.
The exclusive 84㎡ properties of Mapo Raemian Prugio in Ahyeon-dong, e-Pyeonhan World Mapo River Park in Yonggang-dong, and Mapo Grand Xi in Daeheung-dong also found new owners for 1.85 billion won in July and August. All have increased by more than 200 million won compared to the beginning of the year. A 138㎡ unit exclusively for Daewoo World Mark Mapo, a residential-commercial complex in Singongdeok-dong, was sold for 1.95 billion won last month. It jumped by 520 million won compared to the transaction price in September 2019 (1.43 billion won).
According to the Korea Real Estate Agency, apartment prices in Mapo-gu rose 0.6% in July. On a monthly basis, the rate of increase was steepest in the Gangbuk area of Seoul. Looking across Seoul, the increase rate was the second highest after Songpa-gu (0.87%). Mapo is located right next to Yeouido along the Han River. An advantage is that it can be easily accessed from Gwanghwamun and Jongno.
Gyeonghuigung Xi, a complex in Jongno-gu that is not only close to the city center, but also located in the city center, has already entered the 2 billion won club. Complex 3 in Pyeong-dong was sold for 2.045 billion won in July, and complex 2 in Hongpa-dong was also sold for 2 billion won last month. Last year, it was traded at around 2 billion won, but fell to 1.69 billion won early this year. The ransom value was recovered by over 300 million won. Currently, it is up for토토사이트 sale for 2.3 billion won.
It is also noticeable that small apartments are strong in areas close to direct housing, such as Mapo and Jongno. According to the Korea Real Estate Agency, as of July, the area with the highest increase in sales prices for small units of 40㎡ or less in Seoul was the northwest area (0.62%), which includes Mapo-gu, Seodaemun-gu, and Eunpyeong-gu. The exclusive use area of 40~60㎡ showed the largest increase (0.73%) in the urban area (Jongno, Jung-gu, Yongsan-gu).
This is in contrast to the highest increase in all areas exceeding 60㎡ in the southeastern region (Gangnam, Seocho, Songpa, and Gangdong-gu). One disappointing point is that Mapo and Jongno have somewhat poorer school districts compared to the Gangnam area. It is analyzed that the growth rate of small apartments in Mapo and Jongno is high due to the high preference among young couples who do not have children or who are still young.