Most Expensive House Equivalent to 123 Cheapest Apartments in Seoul

The most expensive house in Seoul is worthy of 123 of its cheapest apartments.

A real estate company, Budongsan Sub, announced on May 2 that price differences between the highest priced house and the lowest price house increased twice since 1999, after analyzing standardized prices of common houses in Seoul

The most expensive common house in Seoul is the 230 pyong “Traum House 5” in Seocho-Dong and its market price is 3.69 billion won. The cheapest common house is the 11 pyong Gangnam Sangga Apartments in Sangdo-Dong, and its unit price is 30 million won.

The price difference between these two houses is 3.66 billion won. One unit of Traum House 5 is worth 123 Gangnam Sangga apartments.

The highest priced house used to be the 160 pyong Hilldesheim Villa, with its price of 1.6 billion won in Seoul in 1999. The lowest price house was a four-pyong Samik apartment with its price of 7 million won in North Ahyun-Dong. The price difference is 1.593 billion won.

Five years later the price difference between the highest and lowest priced houses in Seoul increased by 2.3 times from 1.593 billion won to 3.66 billion won.

In addition, Tower Palace in Dogok-Dong attracted the public’s gaze by having three apartments that are among the 10 highest priced apartments. A 102 pyong apartment of the first installment, a 100 pyong of the third installment, and a 101 pyong of the second installment ranked third, fourth, and sixth respectively.

Budongsan Sub forecast that the price of Eye Park in Samsung-Dong, which is expected to be moved in in May, is soaring and its standard market price will rank first sooner or later.

Eun-Woo Lee libra@donga.com