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Most expensive areas to live Seoul South Korea 2019

The most expensive area in Seoul as of January 2019 was Gangnam-gu, with an average sales price of 53 million South Korean won per 3.3 square meters. The Gangnam area including Gangnam-gu, Seopo-gu, and Songpa-gu, is one of the richest neighborhoods in Korea.

What is Gangnam Style?

Gangnam literally means 'south of the Han River' in Seoul and is one of the busiest entertainment districts including Hongdae and Itaewon. This district has developed greatly since the 1960s with intensive government investment. Gangnam also implies that it is a place where people with a high level of education or wealth usually live. These backgrounds motivated Psy, the well-known Korean singer, rapper, and songwriter, to write his internationally popular song “Gangnam Style”.

Luxury apartments in Korea

Apartments are usually built by large construction companies and are standardized in size, making them popular with investors. As a result, apartment prices are skyrocketing every year. As of 2019, the share of apartments exceeding 900 million South Korean won in Seoul accounted for almost half of all apartments. Just three years ago, its share was less than 20 percent. Located in Yongsan-gu in Seoul, Hannam The Hill Apartment was the most expensive in 2018, with a transaction amount of up to 8.1 billion South Korean won.

Most expensive areas to live in Seoul in South Korea as of January 2019, based on average selling price of apartment

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Sources

Release date

January 2019

Region

South Korea

Survey time period

January 2019

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Statistics on "Real estate in South Korea"

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