Acro River Park in Banpo-dong, Seocho-gu, Seoul Sets New Record
A recent record transaction occurred at 'Acro River Park' located in Banpo-dong, Seocho-gu, Seoul. According to the actual transaction disclosure system of the Ministry of Land, Infrastructure and Transport, a 178㎡ apartment in this complex was sold for 9.5 billion won on March 15, breaking the previous record. This marks a significant increase of 1 billion won compared to a similar-sized apartment that sold for 8.5 billion won last August, just six months prior.
This transaction took place before the three districts of Gangnam, Seocho, and Songpa were designated as land transaction permission zones. In February, the Seoul city government lifted the land transaction permission designation for the 'Jam, Sam, Dae, Cheong' areas; however, the transaction volume surged, resulting in multiple record high transactions in these regions. Consequently, the government expanded the land transaction permission zone to include approximately 400,000 households in the three Gangnam districts and Yongsan-gu on March 19 to curb the rising house prices. This regulation began last month and will continue until the end of September.
Banpo-dong has now become subject to regulation for the first time due to this new rule, requiring that local government approval is obtained for purchasing properties in the area. Additionally, gap investments, which involve buying homes while renting them out, are prohibited alongside mandatory residency requirements. As a result of these regulatory measures, there have been no apartment transactions in Banpo-dong since the implementation of the regulations according to the Ministry's actual transaction disclosure system.
Before the emergence of 'Raemian One Bailey,' Acro River Park was regarded as the leading luxury apartment complex in Banpo-dong. It is known that various famous celebrities, including broadcaster Shin Dong-yup, singer Sung Si-kyung, and actors Gong Yoo and Ko Soo, reside there. Musical actor Hong Kwang-ho made headlines last year when he purchased a penthouse in the complex for 11 billion won.
In light of these circumstances, attention is focused on how changes in the real estate market and government regulations will impact the future. In particular, the real estate market in the Gangnam area continues to attract significant interest, and there is keen anticipation regarding future price fluctuations and transaction trends.
Image source: News1, Shin Dong-yup / News1
