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Wednesday, July 21, 2004

Gangnam apartments quite expensive (+ Seoul housing prices)

This piece of news or something in Chosun quotes a survey done by a real estate information company (is it any different from a real estate agency?), which compares apartment prices in Gangnam, Seoul to prices in Manhattan and finds out that compared to the gross national income (GNI) per capita, Gangnam is twice as expensive as Manhattan. (Can't tell how it'd be if the incomes of those two locations were compared.)
        
W/pyeong €/sqm
Gangnam 22.8 mil W 4600
Songpa 18.8 3800
Seocho 17.7 3600
Yongsan 15.1 3100
Gangdong 14.1 2800
Seoul avg. 11.7 2400

Helsinki I 3455
Helsinki II 2654
Helsinki III 2143
Helsinki IV 1744
Helsinki avg 2503
(Helsinki housing prices in the first quarter of 2004 just for my own comparison.)

Here's a table on recent apartment prices picked from another real estate site; it should show the average size of an apartment and its price, the average price per p'yông (pyeong) (3.3 sqm), and price chance since the previous week.
 2004.07.16기준(1주전 대비)  (단위:만원)
서울시
아파트 평균크기 및 매매가 체감평균
평균(평)|평균매매가 | 평당가 | 변동율
강남구 31.13 66,654 1,842 -0.15%
서초구 35.03 64,109 1,567 0.00%
용산구 36.15 53,027 1,428 -0.04%
송파구 28.99 58,566 1,418 -0.13%
양천구 29.20 35,448 1,216 -0.11%
광진구 33.21 38,839 1,169 -0.01%
강동구 25.03 40,647 1,137 -0.74%
중구 32.43 35,983 1,109 -0.26%
성동구 31.64 31,962 1,010 0.11%
영등포구 31.95 31,125 971 0.02%
마포구 30.20 29,150 967 -0.05%
동작구 33.09 31,860 955 0.03%
관악구 30.60 25,590 834 -0.03%
종로구 33.37 27,579 820 0.00%
서대문구 30.92 24,855 804 0.00%
동대문구 31.16 25,639 803 -0.01%
강서구 27.82 23,399 779 -0.00%
성북구 31.82 24,541 771 0.00%
구로구 30.07 22,593 745 -0.03%
강북구 31.53 22,037 699 0.10%
중랑구 29.20 20,191 693 0.00%
은평구 30.92 21,274 688 0.00%
금천구 29.22 20,060 683 0.06%
노원구 26.13 17,355 656 -0.22%
도봉구 28.50 17,523 615 -0.22%
전 체 29.97 34,764 983 -0.10%

I don't know where the difference in the average between this table the date quoted above comes. Gwanak-gu is emphasized in bold because that's my own area in Seoul. It's placed higher in the table than I thought, but the high placement compared to the older image of the area and to the most likely lower comparative prices of the other kind of housing means that the apartment housing constructed there recently has been quite high-level. (If interested in what the construction in Bongcheon-dong in Gwanak-gu has looked like, see the pics in this older post of mine).

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