People who say Seoul is still cheap are like frogs in a well

These are the top 5 price-per-pyeong rankings in the world (it surpassed New York, London, Tokyo, and Paris a long time ago), yet there are still quite a few users posting nonsense, claiming that properties worth over 100 billion KRW are common in New York or Tokyo. (For reference, there are currently fewer than 10 properties in all of Manhattan worth over 100 billion KRW. In Japan, prices exceeding 500 million KRW per pyeong are only possible for penthouses, like those with private swimming pools.) Even if it's not a bubble, saying it's "cheap" is truly the talk of a frog in a well. Of course, because property taxes, maintenance fees, and insurance are low, it's a good place to park assets since you can hold long-term; and it's also true that compared to places like Manhattan, things like parking availability and land ownership shares are superior, so please don't misunderstand me as saying prices need to drop.
First, if you compare them by "hexagon" metrics (comprehensive value), Jamsil doesn't fall behind even when compared to Palo Alto, one of the wealthiest areas in the US. If comparing apartments, Palo Alto is overwhelmingly cheaper, but if comparing to single-family homes (which most wealthy Americans prefer, excluding special cases like Manhattan), Jamsil is no longer lagging behind, with standard apartment sizes costing roughly 4 to 5 billion KRW. For reference, household income differs by nearly fourfold. Also, Palo Alto is a top-tier wealthy area even within Silicon Valley; to go one tier higher than this, you'd need to be born with a silver spoon or have a massive startup success to move to places like Atherton or Newport Beach.