Apgujeong/Jamsil, 300 million each in less than 100 days, ‘Mugwort’… A rebound domino flare?

Apartment prices in Gangnam and Jamsil, which boast the best locations in Seoul, are rebounding. As reports come out and even transactions come out, the decline in apartment prices in Seoul seems to be reducing. According to KB Real Estate Weekly KB

Housing Market Trends on the 19th, as of the 15th, apartment prices nationwide fell 0.17% compared to the previous week. Compared to last week ( -0.13 %), the decline slightly increased, but it seems to be stabilizing by maintaining a decline of 0.1% for 4 consecutive weeks. During this period, the metropolitan area showed a downward trend of -0.19 %, five metropolitan cities -0.21 %, and other provinces -0.12 %. Seoul fell 0.17%, but the difference was large. Gangnam-gu succeeded in rebounding by 0.06% from the previous week. For the first time this year Songpa-gu rose 0.11%, continuing its upward trend for three weeks in a row. The only places where apartment prices rose this week were Gangnam-gu and Songpa-gu. On the other hand , a downward trend continued in Dobong-gu ( -0.5 %), Eunpyeong-gu ( -0.39 %), and Nowon-gu ( -0.34 %).

Looking at each complex, areas with a more pronounced rebound stand out. The 84㎡ exclusive for Eunma Apartment in Daechi-dong안전놀이터, Gangnam-gu was traded for 2.43 billion won on the 4th. This is the highest price this year. This apartment was traded for 2.13 billion won in February. An 84 square meter space dedicated to e- Comfort World in Nonhyeon-dong, Gangnam -gu was also sold for 2.45 billion won on the 2nd, rewriting the highest price this year. It jumped 300 million won from the transaction price of 2.15 billion won in February.

Apgujeong-dong, Gangnam-gu, Hyundai 2nd exclusive 160㎡ was recently sold for 5.45 billion won (11th floor), and the report wrote a record. Compared to 3.6 billion won (12th floor) in April 2020, when the same area was last traded, there is a difference of more than 1.8 billion won. A similar area in the same complex was traded for 5.43 billion won (8th floor) in April 2021.

The area of ​​​​119㎡ dedicated to’Jamsil Els’ in Jamsil-dong, Songpa-gu was traded at the end of last month at 3.4 billion won, the same price as the highest price recorded in November 2021. The 84㎡ exclusive for this apartment was actually traded for 2.2 billion won on the 10th. Compared to the transaction at 1.87 billion won in January, it rose by 330 million won in four months. The 84㎡ dedicated to the nearby ‘Parkrio’ was also traded at 1.98 billion won on the 12th, up 280 million won from the 1.7 billion won traded in January.

Gangnam-gu and Jamsil-dong, Songpa-gu are designated as land transaction permission zones. Although the city of Seoul has no signs of loosening the regulations yet, it is interpreted that end users judged that they had ‘reduced enough’. An industry insider said, “Seoul Gangnam and Jamsil apartments, which are the best in Korea, are showing a rebound.”

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