Apartment prices in Gyeonggi Province have risen more than 7% this year, with the Dongtan area of Hwaseong gaining more than 100 million won in nine months.
The average apartment sale price in Gyeonggi Province stood at 20.33 million won per 3.3 square meters last month, up 1.39 million won, or 7.3%, from 18.94 million won in December last year, according to data from Real Estate R114 released on the 14th. For a unit with 84 square meters of exclusive floor space, that translates into a gain of 47.26 million won over nine months.
Cities south of the Han River swept the top of the rankings. Gwangmyeong posted the steepest increase at 16.2%, followed by Seongnam at 11.7%, Anyang at 11.3%, Yongin at 11.1%, Hanam at 10.9% and Hwaseong at 10.7%. All six cities with double-digit gains lie south of the river. North of the Han, only Guri, at 9.1%, outpaced the provincial average.
At the district level, Hwaseong's Dongtan district stood out. Its average sale price surged 15.6%, to 27.7 million won per 3.3 square meters from 23.96 million won. For an 84-square-meter unit, that amounts to a gain of 127.16 million won in nine months.
Yongin's Suji district came close behind with a 15.4% rise. Gains also topped 10% in Anyang's Dongan district at 12.6%, Seongnam's Jungwon district at 12.0%, Bundang district at 11.7% and Sujeong district at 11.4%, and Suwon's Paldal district at 10.7% and Yeongtong district at 10.2%.
Proximity to Gangnam, Plus a Semiconductor Cluster
Industry officials point to access to Seoul's Gangnam district and local employment bases as the main drivers of strength in southern Gyeonggi. Rising prices in Gangnam have spread to areas that are geographically close or well connected by transit, such as Gwangmyeong, Pangyo, Suji and Dongtan, analysts said.
This year, expectations tied to a semiconductor cluster added further momentum, concentrating demand around Hwaseong's Dongtan and Yongin's Suji. Guri's status as the only area north of the Han River to beat the provincial average also reflects its strong access to Gangnam, analysts said.