Seoul Forest Condo Most Expensive Lease in Korea

  • By Jang Sang-jhin

    January 15, 2019 12:18

    The posh Galleria Foret condominium overlooking Seoul Forest was the most expensive to lease in the country last year, real estate app Zigbang said Monday.

    A jeonse or Korean-style deposit lease for a 271 sq.m unit there signed in November fetched W5 billion, or an eye-watering W608.5 million per 3.3 sq.m (US$1=W1,123).

    Estate agent Lee Sang-chun said, "The property is a split-level penthouse whose sale price is estimated at W7.5 billion, and there are only six of those units in the building."

    Alpharium in Pangyo, Seongnam was the most expensive in Gyeonggi Province. A jeonse contract for a 203.8 sq.m unit there fetched W2 billion or W32.4 million per 3.3 sq.m.

    The highest jeonse contract outside the Seoul metropolitan area was in Daegu, where a tenant paid W1.4 billion for a 204 sq.m unit in the oddly named Doosan We've the Zenith condo in April last year.

    In Busan and Incheon, the top jeonse prices were W1 billion.

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