Seoul, South Korea – A luxurious apartment in the prestigious Nine One Hannam complex, located in the affluent Hannam-dong district of Yongsan-gu, Seoul, has shattered the record for the most expensive apartment transaction in South Korea this year. The sprawling 273-square-meter (approximately 2,938 square feet) residence was sold for a staggering 25 billion Korean Won (approximately $18.4 million USD), according to data released by the Ministry of Land, Infrastructure and Transport's real estate transaction disclosure system. The transaction, which took place in February, has ignited discussions about the resilience of the high-end property market in the face of economic fluctuations.
The seller of the record-breaking unit is identified as renowned film director Kim Yong-hwa, celebrated for his blockbuster 'Along with the Gods' film series. Having reportedly purchased the property at an earlier date, Director Kim is said to have realized a substantial capital gain of 17.5 billion KRW (approximately $12.9 million USD) from this lucrative sale, underscoring the potential for significant returns in Seoul's prime real estate market.
Completed in 2019 by Hyundai Engineering & Construction, Nine One Hannam has quickly established itself as one of South Korea's most exclusive residential enclaves. Comprising a total of 341 meticulously designed units across nine low-rise buildings, the complex offers residents unparalleled privacy, security, and a host of high-end amenities. Its prime location in Hannam-dong, traditionally a favored neighborhood for diplomats and the elite, further enhances its appeal. The complex is known to be home to a significant number of high-profile figures, including prominent entertainers, influential business leaders, and other members of South Korea's upper echelon. Its design emphasizes spacious layouts, premium finishes, and panoramic views of the Han River and the surrounding cityscape.
This recent sale matches the previous record high transaction for a unit within Nine One Hannam, which occurred in August of the previous year. Notably, this 25 billion KRW transaction marks the highest price recorded for any multi-dwelling unit (encompassing apartments, multi-family homes, and row houses) transaction nationwide since the South Korean government initiated the public disclosure of actual real estate transaction prices in 2006. This milestone underscores the enduring demand for ultra-luxury housing in Seoul's most coveted locations.
Further highlighting the strength of the high-end property market, the second most expensive apartment transaction this year also took place in the same prestigious Yongsan-gu district. In March, a 243-square-meter (approximately 2,616 square feet) unit in the esteemed Hannam the Hill complex was sold for 17.5 billion KRW (approximately $12.9 million USD). Hannam the Hill, developed by Hyundai Land Development, is another highly sought-after luxury residential complex known for its expansive green spaces, stringent security, and exclusive community.
Adding to the list of significant transactions, a 234-square-meter (approximately 2,519 square feet) apartment in the Raemian One Bailey complex, located in the upscale Banpo-dong district of Seocho-gu, changed hands for 16.5 billion KRW (approximately $12.1 million USD) in February. Raemian One Bailey, a newly built complex by Samsung C&T, is renowned for its modern design, comprehensive amenities, and prime location in a traditionally affluent area south of the Han River.
An analysis of high-value transactions this year reveals a concentration of wealth in specific Seoul districts. To date in 2025, a total of 12 apartment transactions exceeding the 10 billion KRW (approximately $7.4 million USD) threshold have been recorded. A significant majority, eight of these transactions, occurred within Yongsan-gu, with five in Nine One Hannam and three in Hannam the Hill. The remaining four transactions were each recorded in prime locations across the city: Raemian One Bailey in Seocho-gu, Acro Seoul Forest in the trendy Seongsu-dong district of Seongdong-gu (developed by Daelim Industrial), and Acro River Park (also by Daelim Industrial) in Banpo-dong, Seocho-gu, known for its riverside views and proximity to major transportation arteries.
These high-value transactions underscore the enduring appeal of luxury properties in Seoul, particularly in the established enclaves of Yongsan-gu and the emerging high-end market in areas like Seongsu-dong. Despite periodic economic uncertainties and government regulations aimed at stabilizing the real estate market, the demand for premium residences in prime locations remains robust, driven by a combination of domestic high-net-worth individuals and, potentially, some foreign investors seeking secure and prestigious assets. The continued activity in this segment of the market suggests a degree of resilience and sustained confidence among affluent buyers in Seoul's most exclusive neighborhoods.
The record-breaking sale in Nine One Hannam not only highlights the allure of this particular complex but also reflects the broader trend of high-end real estate as a sought-after asset class in South Korea's capital. As Seoul continues to be a hub for business, culture, and entertainment, the demand for luxury living spaces in prime locations is expected to remain strong, potentially leading to further significant transactions in the future.
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