According to an analysis of data from the Supreme Court and real estate information app Zipum, the number of applications for ownership transfer due to voluntary auctions in Gyeonggi Province rose from 942 cases in May 2025 to 1,163 cases in May 2026, marking an increase of 221 cases or 23.5%.
Regionally, Pyeongtaek recorded the highest number of cases at 105, followed by Gwonseon District in Suwon (97 cases), Gimpo (93 cases), Yangpyeong (85 cases), and Namyangju (65 cases).
Last year, Pyeongtaek also had the highest number of cases at 82, with Paju (67 cases) and Yangpyeong (62 cases) following. This year, while Pyeongtaek maintained its top position, Suwon and Gimpo have moved up in the rankings, indicating a shift in focus.
The most significant increase was seen in Gimpo, which jumped from 30 cases last May to 93 this year, a threefold rise. Gwonseon District in Suwon also expanded from 54 to 97 cases, while Paldal District in Suwon surged from 4 to 47 cases.
Additionally, Namyangju increased from 30 to 65 cases, and Yongin's Cheoin District rose from 18 to 51 cases, both showing more than double the increase. This trend indicates a rise in voluntary auction sales, particularly in the southwestern outskirts of the metropolitan area, including Gimpo and Namyangju.
Conversely, some areas experienced a decline. Yeoju saw a drop from 39 cases to 6, Yangju from 50 to 26, Goyang's Ilsanseo District from 25 to 4, and Icheon from 17 to 3. Notably, Yeoju and Goyang's Ilsanseo District reported significant decreases of 84.6% and 84.0%, respectively. This highlights a clear disparity in trends across different regions within Gyeonggi Province.
Applications for ownership transfer due to voluntary auctions involve properties with established collateral rights being auctioned off, followed by the registration process for ownership transfer. An increase in applications suggests that more collateral properties are reaching the auction sale stage, serving as an indicator of the financial conditions in the local real estate market.
Industry experts attribute the rise in auction cases to the burden of interest payments amid high rates and economic slowdown. Particularly, properties purchased during the price surge from 2021 to 2022 are now reaching the actual sale stage, contributing to the increase.
A representative from Zipum stated, "With a 23.5% increase in applications for voluntary auction sales in Gyeonggi Province over the past year, Gimpo has seen a remarkable rise from 30 to 93 cases, highlighting significant changes in the outskirts of the metropolitan area. However, it is important to note that some regions, like Yeoju and Yangju, have experienced declines, indicating the need to analyze regional trends within Gyeonggi Province."
* This article has been translated by AI.
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