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Hannam The Hill holds the fort as top-priced apartment in S. Korea


(Hannam The Hill)
(Hannam The Hill)


Hannam The Hill, a premium residence located in central Seoul’s Hannam-dong, continued to stand as the most expensive apartment in South Korea, extending its record for five consecutive years, data showed Friday.

According to data compiled by the Ministry of Land, Infrastructure and Transport, one unit of the apartment with an exclusive use area of 240.305 square meters was valued at 7.3 billion won ($6.16 million) in April this year.

The latest amount was up 200 million won from the previous 7.1 billion won record observed in November last year for the equivalent size.

The government’s list included the country’s 30 most expensive apartments according to their actual transaction amount so far this year. Hannam The Hill accounted for 13 out of the 30, including the top six.

The apartment complex, popular among chaebol owners and celebrities, has invariably remained the most expensive in South Korea’s heated housing market since 2015.

In January last year, a slightly larger unit with exclusive use space of 244.749 square meters sold for 8.4 billion won, hitting a record high since the real estate transaction reporting system was introduced here in 2006.

After Hannam The Hill was the IPark apartments in Samseong-dong, Tower Palace in Dogok-dong, Acro River Park in Banpo-dong, and Cheongdam Upper House in Cheongdam-dong -- all positioned in the 5 billion won range.

Acro River Park also renewed the top price per area as one of the units with exclusive use space of 84.95 square meters was sold for 3.57 billion won last month.

By Bae Hyun-jung (tellme@heraldcorp.com)
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