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 Gangnam-gu in Seoul, The Penthouse Cheongdam was the most expensive, with a transaction amount of around 16.4 billion South Korean won.
Most expensive areas to live in Seoul as of October 2024, based on average apartment selling price
(in million South Korean won)
Characteristic
Average selling price of apartments in million South Korean won
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Korea Real Estate Board. (December 5, 2024). Most expensive areas to live in Seoul as of October 2024, based on average apartment selling price (in million South Korean won) [Graph]. In Statista. Retrieved December 17, 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 October 2024, based on average apartment selling price (in million South Korean won)." Chart. December 5, 2024. Statista. Accessed December 17, 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 October 2024, based on average apartment selling price (in million South Korean won). Statista. Statista Inc.. Accessed: December 17, 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 October 2024, Based on Average Apartment Selling Price (in Million South Korean Won)." Statista, Statista Inc., 5 Dec 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 October 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 December 17, 2024)
Most expensive areas to live in Seoul as of October 2024, based on average apartment selling price (in million South Korean won) [Graph], Korea Real Estate Board, December 5, 2024. [Online]. Available: https://www.statista.com/statistics/1023632/south-korea-most-expensive-areas-to-live-seoul/
