The most expensive area in Seoul, South Korea as of May 2024 was Gangnam-gu with an average apartment selling price of around 2.25 billion South Korean won. The Gangnam area, which includes Gangnam-gu, Seocho-gu, Yongsan-gu, and Songpa-gu, is one of the richest neighborhoods in South Korea.
What is Gangnam Style?
Gangnam has developed greatly since the 1960s with intensive government investment. It literally means 'south of the Han River' and is one of the busiest entertainment districts including Hongdae and Itaewon. Gangnam is also known as a place where people with a high level of education or wealth live. These backgrounds motivated Psy, the well-known Korean singer, rapper, and songwriter, to write his internationally popular song “Gangnam Style”.
Luxury apartments in South Korea
The average purchasing price of apartments in the country has almost doubled in the last 10 years. Part of the reason for this are the multiple luxury-branded apartment complexes in Seoul. Located in Yongsan-gu in Seoul, Hannam The Hill Apartment was the most expensive, with a transaction amount of around 7.75 billion South Korean won.
Most expensive areas to live in Seoul as of May 2024, based on average apartment selling price
(in million South Korean won)
Characteristic
Average selling price of apartments in million South Korean won
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Korea Real Estate Board. (July 5, 2024). Most expensive areas to live in Seoul as of May 2024, based on average apartment selling price (in million South Korean won) [Graph]. In Statista. Retrieved November 20, 2024, from https://www.statista.com/statistics/1023632/south-korea-most-expensive-areas-to-live-seoul/
Korea Real Estate Board. "Most expensive areas to live in Seoul as of May 2024, based on average apartment selling price (in million South Korean won)." Chart. July 5, 2024. Statista. Accessed November 20, 2024. https://www.statista.com/statistics/1023632/south-korea-most-expensive-areas-to-live-seoul/
Korea Real Estate Board. (2024). Most expensive areas to live in Seoul as of May 2024, based on average apartment selling price (in million South Korean won). Statista. Statista Inc.. Accessed: November 20, 2024. https://www.statista.com/statistics/1023632/south-korea-most-expensive-areas-to-live-seoul/
Korea Real Estate Board. "Most Expensive Areas to Live in Seoul as of May 2024, Based on Average Apartment Selling Price (in Million South Korean Won)." Statista, Statista Inc., 5 Jul 2024, https://www.statista.com/statistics/1023632/south-korea-most-expensive-areas-to-live-seoul/
Korea Real Estate Board, Most expensive areas to live in Seoul as of May 2024, based on average apartment selling price (in million South Korean won) Statista, https://www.statista.com/statistics/1023632/south-korea-most-expensive-areas-to-live-seoul/ (last visited November 20, 2024)
Most expensive areas to live in Seoul as of May 2024, based on average apartment selling price (in million South Korean won) [Graph], Korea Real Estate Board, July 5, 2024. [Online]. Available: https://www.statista.com/statistics/1023632/south-korea-most-expensive-areas-to-live-seoul/
