Even if it's more expensive than the appraised price...Auctions Are Popular in Gangnam Apartments

It was found that one out of two apartments in Seoul that were sold at a higher price than the appraised price at the auction market last month was an apartment in the Gangnam area.

GG Auction said 24 out of 48 apartments sold at a higher price than appraised prices at the Seoul apartment auction market last month were those with addresses in Gangnam, Seocho and Songpa.

In particular, apartments in the Gangnam area, which were sold at higher prices than appraised prices, remained at around 10 units every month this year, but surged to 24 units last month.

GG Auction explained that even in the auction market, the buying of apartments in Nowon, Dobong and Gangbuk areas is decreasing, and demand is concentrated on reconstruction complexes in Gangnam and new apartments in highly favored areas.