The number of apartments in Seoul that cost more than W10 million per 3.3 sq. m in jeonse or Korean-style deposit lease has almost doubled over the last two years (US$1=W1,107).
According to property website Dr. Apartment, there were 252,573 such apartments in Seoul as of Monday, up from 126,516 two years ago.
The tony area south of the Han River accounted for 65 percent of the swish apartments. The Gangnam district there had 71,364 apartments in the price range, while Seocho had 21,794 and Songpa 11,847.