Seoul apartment prices maintained a 0.25% gain even amid a wait-and-see stance, while in the greater Seoul area, Hwaseong's Dongtan district jumped 0.60% in just one week. Backed by semiconductor-related demand and expectations for a metropolitan transit network, the southern Gyeonggi region continues to show strength.
According to the Korea Real Estate Board on Wednesday, Seoul apartment sale prices rose 0.25% in the first week of June from the previous week. This matched the gain from the prior week. Gyeonggi rose 0.12%, the greater Seoul area 0.14%, and the nation 0.07%. In Gyeonggi, Hwaseong's Dongtan district surged 0.60%, the largest increase among major areas in the greater Seoul region. Gwangmyeong (0.43%), Seongnam's Sujeong district (0.42%), Seongnam's Jungwon district (0.37%), Anyang's Dongan district (0.35%), and Guri (0.34%) also showed strength.
Dongtan is widening its gains as semiconductor industry-related demand combines with metropolitan transit networks such as the GTX-A. Buying interest is spreading not only to the station areas of Cheonggye and Yeoul-dong but also to areas near the southern Lake Park, the Dongtan Phase 1 new town, and the Byeongjeom area. Its cumulative gain this year reaches 5.11%. Nam Hyuk-woo, a real estate researcher at Woori Bank, said, "Price strength in southern Gyeonggi's residential support areas continues amid expectations of a boom in the semiconductor industry." He added, "In Dongtan, there is also demand from buyers who purchase in advance with tenants in place, anticipating future home price increases."
Seoul recorded a 0.25% gain, the same as the previous week. Among Gangnam's three districts, Songpa rose 0.28%, while Gangnam and Seocho each rose 0.21%. In Songpa, asking prices remained firm in Geoyeo and Bangi-dong, while in Seocho and Gangnam they held steady centered on major reconstruction complexes and large apartment complexes.
Seoul's northeastern region was also strong. Dongdaemun (0.37%), Seongdong (0.35%), Gangbuk (0.35%), Seongbuk (0.34%), and Jungnang (0.29%) rose. The shortage of jeonse (a Korean lease system requiring a large lump-sum deposit instead of monthly rent) listings and the burden of rising jeonse prices are seen as prompting non-homeowner tenants to switch to buying, while some demand from existing Seoul residents looking to move is also flowing in. Areas with relatively better price accessibility, such as Gangseo (0.31%), Yeongdeungpo (0.31%), and Dongjak (0.25%), continued their upward trend.
The jeonse market is also acting as a factor pushing up sale prices. Seoul jeonse prices rose 0.29%, a larger increase than the previous week's 0.26%. Songpa jumped 0.50%, centered on large complexes in Jamsil and Sincheon-dong, while Seongdong (0.48%), Dobong (0.47%), Seongbuk (0.43%), and Nowon (0.41%) also showed strength.
However, the possibility of additional designation as regulated zones is cited as a variable for some overheated areas such as Dongtan. Nam said, "If these areas are additionally designated as regulated zones in the future, price corrections or transaction stagnation could emerge, so it is necessary to watch for policy changes."
