Despite the government's designation of Dongtan in Hwaseong, Giheung in Yongin, and Guri as regulated areas and land transaction permission zones, apartment prices in the metropolitan area continue to rise. While the growth rate in Dongtan has slowed, it still recorded a significant increase of over 1%, and Yongtong in Suwon surged by 1.19% in just one week.
According to the Korea Real Estate Agency's report on weekly apartment price trends for the first week of July, as of July 6, the national average apartment sale price rose by 0.11% compared to the previous week. The metropolitan area saw a 0.22% increase, with Seoul up by 0.30% and Gyeonggi Province by 0.23%. Both Seoul and Gyeonggi experienced an expansion in their growth rates compared to the previous week.
In Gyeonggi Province, the southern region continues to show strength. Dongtan in Hwaseong increased by 1.29%, a decrease from the previous week's 1.46%, but still maintains a high growth rate. Yongtong in Suwon jumped from 0.41% to 1.19%, while Giheung in Yongin rose from 0.39% to 0.56%. Guri also saw a 0.64% increase. In contrast, Pyeongtaek and Icheon experienced declines of 0.11% and 0.13%, respectively, indicating regional disparities.
Market analysts suggest that the demand has shifted to major areas in southern Gyeonggi due to a balloon effect following the regulations in Dongtan. Although the growth rate in Dongtan itself has slowed, the simultaneous increase in nearby areas like Yongtong and Giheung indicates a trend.
Nam Hyuk-woo, a real estate researcher at Woori Bank, stated, "While the growth rate in Dongtan has somewhat slowed, demand is moving to Giheung in Yongin, where prices are more affordable, sustaining the strength in southern Gyeonggi. We are also seeing a spread of demand to areas like Yongtong in Suwon and Bundang in Seongnam."
Apartment prices in Seoul also continued to rise. The average growth rate in the 14 districts of North Seoul was 0.33%, surpassing the 0.28% average in the 11 districts of Gangnam. Among the districts, Seongbuk recorded the highest increase at 0.51%, followed closely by Guro at 0.50%. Other districts such as Jungnang (0.39%), Gwangjin (0.38%), Gangbuk (0.37%), and Dongdaemun (0.36%) also exceeded the Seoul average. This trend is attributed to the influx of actual demand into relatively affordable areas and the reflection of development expectations.
The rental market remains unstable. The average rent for apartments in Seoul increased from 0.30% last week to 0.31% this week, slightly surpassing the 0.30% increase in sale prices. Areas such as Seongdong (0.46%), Nowon (0.44%), Gangdong (0.43%), and Songpa (0.42%) continue to attract demand due to school districts, proximity to subway stations, and preference for large complexes.
Nationwide, the temperature difference between the metropolitan area and other regions persists. While the national average apartment sale price rose by 0.11% and the metropolitan area by 0.22%, other regions only saw a minimal increase of 0.01%. The number of areas experiencing price increases rose to 108, while those with declines decreased to 60.
* This article has been translated by AI.
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