Old Bundang Apartments Out-Price Newer Wirye Stock in Seongnam's July Trades
Apartment transactions registered with South Korea’s Ministry of Land, Infrastructure and Transport (MOLIT) in July 2026 show a striking inversion in Seongnam, the Gyeonggi Province city just southeast of Seoul: some of its oldest housing stock is now commanding higher prices per square meter than complexes built two decades later. A 50-square-meter unit at Imaechon Hanshin, a first-generation Bundang complex, sold for 1.6 billion won on July 16 — about 32 million won per square meter — while an 84-square-meter unit at the far newer Wirye Nature & Raemian e-Pyeonhansesang traded four days later at 1.87 billion won, roughly 22 million won per square meter.
A Month of Ten-Figure Trades Across the City
The July registrations span Seongnam’s three distinct housing markets. In the Wirye district of Sujeong-gu, the Nature & Raemian e-Pyeonhansesang deal on July 20 (fifth floor, 84㎡, 1.87 billion won) was followed on July 25 by an eighth-floor unit of the same size fetching 2.018 billion won. Nearby, a 98-square-meter unit at Wirye Hoban Summit Avenue — a 1,137-household complex completed in December 2016 — changed hands for 1.425 billion won on July 30. At Sanseong Station Forestia in Sinheung-dong, an 11th-floor, 74-square-meter unit went for 1.5 billion won on July 18, with a 14th-floor equivalent selling for 1.54 billion won a week later.
Bundang-gu, however, produced the month’s largest figures. An 84-square-meter unit at Seohyeon Sibeom Hanyang — a 2,419-household complex dating to October 1991 — sold for 2.28 billion won on July 24, the highest price among the recorded trades. In Sampyeong-dong, adjacent to the Pangyo tech cluster, an 83-square-meter unit at Pangyo Shinmiju (completed 2009, 1,147 households) traded at 1.945 billion won on July 23.
Thirty-Year-Old Complexes, Premium Unit Prices
The most telling numbers came from Bundang’s smallest and oldest units. A 35-square-meter apartment at Jeongja Hansol Maeul Jugong 4, part of a 1,651-household complex completed in May 1994, sold for 1.09 billion won on July 18 — around 31 million won per square meter. A first-floor, 58-square-meter unit at Yatap Maehwa Maeul Jugong 2, completed in 1995, cleared 1.01 billion won on July 23 despite the ground-floor discount that typically weighs on Korean apartment pricing.
That per-area premium for aging stock is consistent with how the market has been pricing Bundang since the government designated the first-generation new towns for accelerated reconstruction. Buyers of compact units in early-1990s Jugong complexes are, in effect, purchasing a stake in a future rebuild rather than the apartment as it stands — a calculus that lets a 35-square-meter flat approach the total price of a much larger unit in a complex ten years younger.
Floor Level Is Moving Prices by More Than 100 Million Won
The July data also illustrates how much vertical position matters within a single complex. At Wirye Nature & Raemian e-Pyeonhansesang, the gap between the fifth-floor and eighth-floor 84-square-meter trades — completed just five days apart — was 148 million won. At Imaechon Hanshin, a seventh-floor 50-square-meter unit sold for 1.6 billion won on July 16, while a first-floor unit of the identical type went for 1.475 billion won on July 27, a 125 million won discount. The Sanseong Station Forestia pair showed a narrower 40 million won spread between the 11th and 14th floors.
For buyers weighing Seongnam, the July record sketches a clear map: Wirye offers newer construction at lower unit prices, Pangyo trades on employment proximity, and old Bundang carries the steepest per-square-meter valuations on the strength of redevelopment expectations — with floor level capable of swinging any of these deals by nine figures in won.