Isn't Gangnam expensive because it's a good place to live?

Isn't it expensive because it's better to live in than other areas in terms of school districts, transportation, etc.?
That is why areas are divided into prime, mid-tier, and lower-tier locations... The mid-to-high tier areas have already reached the prices Gangnam had just three years ago, yet Gangnam is falling while the mid-to-high tier areas are rising...
I feel like now is my last chance to live in Gangnam. Prices might not differ much for a few years, but looking ahead, it seems like now is the lowest point.