2023-09-13 01:32:00
Apartment prices, which plummeted from the second half of last year to the first half of this year, have been rebounding since May, and the rate of increase in southern Gyeonggi Province was found to be steeper than in Seoul. Analysis suggests that because the range of home price adjustments was large and the absolute level of home prices was relatively low, there was a rush of buyers looking for the right time to buy at low prices.
According to an analysis of the Korea Real Estate Board’s weekly trend data on the 13th, the place where apartment prices rose the most among cities, counties and districts nationwide from May 1 to September 4 of this year was Hanam-si, Gyeonggi-do, with an increase of 6.17%. This was followed by Hwaseong (5.77%), Gwacheon (5.15%), Seongnam Sujeong (4.77%), and Gwangmyeong (4.7%). Among the top 10 apartment price growth rates, only Songpa-gu (4.24%) in Seoul ranked 6th. 7th to 10th places were all Gyeonggi-do, except for Jung-gu, Incheon (3.64%).
Hanam, Gwacheon, Seongnam, and Gwangmyeong are places with high demand for housing because they are close to the Gangnam area. Hwaseong is attracting a lot of interest from investors recently as large-scale investments related to semiconductor factories are scheduled to be made there.
Places where house prices have recently risen sharply have in common that house prices have fallen sharply since the rise in interest rates in the second half of last year. From July of last year to the end of April this year, Hanam ranked second in terms of apartment price decline (-2.16%), and Seongnam Sujeong, Hwaseong, and Gwangmyeong were also included in the top 10 in terms of decline.
Kim Hak-ryeol, head of Smart Tube Real Estate Research Institute, said, “Gwangmyeong, Gwacheon, Seongnam, and Hanam have good accessibility to Seoul and plenty of jobs, so there will be ample demand for housing in the future.”
Panoramic view of Misa New City, built in Hanam-si, Gyeonggi-do. /Chosun DB
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