Hanam emerged as the top destination for Seoul residents who purchased apartments in Gyeonggi Province and relocated last year, according to new data. Analysts attribute the trend to buyers seeking to maintain proximity to Seoul while escaping the capital's soaring housing prices.
Data technology firm Big Value analyzed apartment purchases by Seoul residents who moved to Gyeonggi Province in 2024. Hanam ranked first, followed by Gwangmyeong in second place and Uijeongbu in third.
A total of 9,101 cases of Seoul residents purchasing apartments and relocating to Gyeonggi Province were recorded last year. Hanam accounted for 764 cases (8.4%), followed by Gwangmyeong with 726 cases (8%) and Uijeongbu with 643 cases (7.1%).
Experts point to the "Seoul exodus" phenomenon, driven by rising housing costs pushing residents to adjacent metropolitan areas.
"As Seoul housing costs became increasingly burdensome last year, we saw an exodus to relatively affordable areas adjacent to the capital," said Song Seung-hyun, CEO of City and Economy. "Gwangmyeong connects to the Guro-Geumcheon living zone, while Hanam links to the Gangdong-Songpa zone, making commuting to Seoul workplaces convenient."
Hanam and Gwangmyeong border Seoul directly while offering abundant new apartment supply and competitive pricing.
According to the Korea Real Estate Board, the median apartment sale price in Songpa District stood at 2.004 billion won as of January, approximately 87% higher than Hanam's 1.009 billion won. Gangdong District's median price of 1.1015 billion won was about 2.3% higher than Hanam.
Gwangmyeong's median price of 710 million won exceeds neighboring Geumcheon District (565 million won) and Guro District (648.5 million won), but strong demand has been driven by substantial new apartment inventory.
Transportation infrastructure expansion expectations also influenced relocation decisions.
Hanam received approval last year for the Songpa-Hanam Line, an extension of Seoul Subway Line 3. Gwangmyeong has the Shin-Ansan Line and Wolpan Line scheduled to open. These lines are expected to significantly improve access to major business districts including Yeouido in Seoul and Pangyo in Gyeonggi Province.
Uijeongbu is slated for the GTX-C line, which would enable travel to Samsung Station in Seoul in approximately 20 minutes upon completion.
"Areas with transportation infrastructure expansion prospects are being chosen as alternatives to Seoul residence," Song said. "Regions with news of expanded metropolitan transit networks like GTX are attractive options because they enhance accessibility to the capital region."
