▲ Apartments near Dongtan Station
Apartment prices in major areas of southern Gyeonggi Province rose sharply over the past week, amid signs of overheating in the apartment market of Dongtan-gu, Hwaseong, Gyeonggi Province—a representative region of the "semiconductor belt."
In Seoul, both the Gangnam area and non-Gangnam mid-to-lower-tier areas rose evenly, recording the same increase in sales prices as the previous week.
Although the growth rate of jeonse (lump-sum deposit lease) prices narrowed slightly, it still remained at a high level.
According to the weekly apartment price trend report for the third week of June (as of June 15) released today (June 18) by the Korea Real Estate Board, the average sales price of apartments in Seoul rose 0.27% compared to the previous week.
The rate of increase was the same as the previous week.
Mid-to-lower-tier areas continued their upward trend, maintaining a steady rate of increase.
Seongbuk-gu (0.40%) saw a high rate of increase, driven by small- and medium-sized apartments in Jongam-dong and Gireum-dong, while Guro-gu (0.39%), Dobong-gu (0.38%), Eunpyeong-gu (0.37%), Dongdaemun-gu (0.35%), Gangbuk-gu (0.33%), and Gangseo-gu (0.32%) also showed strong performance.
Among the three Gangnam districts, Gangnam-gu (0.31%) expanded its rate of increase by 0.06 percentage points compared to the previous week, continuing its upward trend for the third consecutive week.
Seocho-gu (0.20%) recorded the same rate of increase as the previous week, while Songpa-gu (0.28%) saw its rate narrow by 0.05 percentage points.
The Korea Real Estate Board stated, "While a wait-and-see attitude continues in some complexes, demand persists mainly around subway station areas, large-scale complexes, and complexes undergoing reconstruction, leading to rising contract prices and an overall increase across Seoul."
In Gyeonggi Province (0.21%), the weekly rate of increase in Dongtan-gu, Hwaseong, reached 2.22%, higher than the 1.98% recorded in the previous week.
Dongtan-gu's cumulative rate of increase this year, tracked since the second week of February following the launch of the autonomous district, reached 9.57%, overtaking Dongan-gu in Anyang (9.30%) to jump to the top spot nationwide.
As the Dongtan apartment market shows such signs of overheating, there is a growing possibility that Dongtan and other parts of Gyeonggi Province experiencing steep price hikes will soon be additionally designated as regulated areas and land transaction permit zones.
Bundang-gu (0.49%) and Jungwon-gu (0.46%) in Seongnam, and Dongan-gu in Anyang (0.45%) also recorded high rates of increase.
This is interpreted as partly reflecting the demand from homeowners who sold their properties in Dongtan, where prices rose significantly, to move to other areas.
Nam Hyeok-woo, a researcher at the Woori Bank Real Estate Research Institute, said, "Expectations of a boom in the semiconductor industry are sustaining the strength of residential areas in southern Gyeonggi Province, centered on Dongtan. There is also a movement of owners who sold their homes in Dongtan upgrading to popular regulated areas within Gyeonggi Province."
Giheung-gu in Yongin (0.13% to 0.31%) and Byeongjeom-gu in Hwaseong (0.25% to 0.43%), which offer commutes to semiconductor workplaces and have many apartments priced under 1 billion won, also saw their price increases expand.
Suji-gu in Yongin (0.16% to 0.44%), one of the preferred residential areas for employees of semiconductor companies, also saw a significant expansion in its rate of increase.
Incheon rose 0.04% compared to the previous week, while the metropolitan area as a whole rose 0.20%.
Non-metropolitan areas (0.00%) remained unchanged for the third consecutive week.
The five major metropolitan cities fell 0.01%, while Sejong City and the eight provinces each rose 0.02%.
Nationwide sales prices rose 0.10% compared to the previous week.
Nationwide apartment jeonse prices rose 0.11%.
In Seoul, the rate of increase (0.32% to 0.30%) slowed slightly compared to the previous week, but overall prices rose as higher-priced lease contracts were signed mainly in preferred complexes with good living conditions, such as school districts, subway station areas, and large-scale complexes.
Seongdong-gu (0.53%) saw high growth rates centered on Haengdang-dong and Oksu-dong, while Songpa-gu (0.50%) saw high growth centered on major complexes in Jamsil-dong and Sincheon-dong. Jeonse prices were also strong in Seongbuk-gu (0.43%), Nowon-gu (0.42%), and Dongdaemun-gu (0.37%).
In Gyeonggi Province (0.19%), jeonse prices are rising sharply along with sales prices in Dongtan-gu, Hwaseong (0.87%).
Gwangmyeong (0.49%) and Sujeong-gu in Seongnam (0.41%) were also among the areas with high rates of increase.
Incheon rose 0.08%, and the metropolitan area as a whole rose 0.21%.
In non-metropolitan areas (0.02%), the five major metropolitan cities rose 0.03%, Sejong City rose 0.11%, and the eight provinces rose 0.01%.
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.