Seoul Won I-Park 84㎡ pre-sale rights top 1.8 billion won
Dongdaemun move-in rights asking prices exceed 2 billion won
Pre-sale and move-in rights for 84-square-meter apartments — the so-called "national standard" unit size — in Seoul's traditionally affordable districts are converging on the 1.8 billion won ($1.32 million) mark.
According to the Ministry of Land, Infrastructure and Transport's actual transaction price disclosure system, a pre-sale right for an 84-square-meter unit at Seoul Won I-Park in Wolgyedong, Nowon-gu changed hands May 14 for 1.811 billion won ($1.33 million), the first time the complex crossed the 1.8 billion won threshold. The pre-sale price for the same unit type had ranged from 1.262 billion won to 1.414 billion won when the complex launched in 2024 — itself a record high for Nowon-gu at the time. The price has since climbed by at least 400 million won before residents have even moved in.
The surge is striking given that Nowon-gu was long considered one of Seoul's most affordable areas, and that key infrastructure — including the Kwangwoon University transit-oriented development and the planned GTX-C metropolitan express rail line — has yet to be completed.
In Dongdaemun-gu, a move-in right for a ninth-floor 84-square-meter unit at Imun I-Park Xi — the district's flagship new development — sold for 1.835 billion won ($1.35 million) in April, clearing the 1.8 billion won level well ahead of other complexes. A 22nd-floor unit of the same size changed hands for 1.83 billion won on May 9, and asking prices for available units have since climbed as high as 2.05 billion won ($1.51 million).
Nearby in Imundong, a 14th-floor move-in right at Raemian La Grande sold for 1.75 billion won on May 8, putting it on the cusp of the 1.8 billion won threshold.
Across other traditionally affordable districts, cases of new-build pre-sale or move-in rights for 84-square-meter units exceeding 1.5 billion won are becoming increasingly common.
At Jangwi Xi Radiant 4 Complex in Seongbuk-gu's Jangwidong — where pre-sale prices originally ranged from 890 million won to just over 1 billion won — an 11th-floor move-in right sold for 1.65 billion won on May 27. Three days later, a 16th-floor 84-square-meter move-in right at Hillstate Mediale in Daejodong, Eunpyeong-gu changed hands for 1.589 billion won.
Meanwhile, data from the Korea Real Estate Board show that Seongbuk-gu's cumulative apartment sale price increase through the second week of June — as of June 8 — reached 7.02 percent, more than nine times the 0.74 percent recorded over the same period last year. Nowon-gu, which fell 0.08 percent in the same stretch last year, has risen 4.96 percent this year, while Dongdaemun-gu has climbed 5.50 percent compared with 0.17 percent a year ago.
hwshin@heraldcorp.com
