A 300 Million Won Jump in Just Three Months... I Didn’t Believe It, but Prices Really Soared

According to The Financial News, while parts of the Seoul apartment market are in a wait-and-see mode, the upward trend in home prices is becoming more pronounced in southern Gyeonggi Province. A series of record-high transactions in key areas such as Suji District in Yongin, Hanam, and Dongtan is drawing the wider Seoul metropolitan property market’s attention toward the southern Gyeonggi region.
Data from the Korea Real Estate Board (KREB) on the first week of March (as of March 2) shows that apartment sale prices in Suji District, Yongin-si, Gyeonggi-do rose 0.44% from the previous week, the highest increase nationwide. Hanam followed with a 0.33% gain, and Dongtan, Hwaseong climbed 0.28%.

On-the-ground transactions also show a string of record highs. According to the Actual Transaction Price Disclosure System of the Ministry of Land, Infrastructure and Transport, an 85-square-meter unit in Seongbok Station LOTTE Castle Gold Town in Seongbok-dong, Suji District, Yongin-si changed hands last month for 1.71 billion won, setting a new all-time high for the complex. That is about 300 million won more than a deal concluded just three months earlier.
An 84-square-meter unit in the e-Pyunhansesang Suji Apartment Complex in Pungdeokcheon-dong recently sold for 1.55 billion won, breaking into the 1.5 billion won range for the first time. Considering that similar units were trading in the high 1.3 billion to 1.4 billion won range as recently as late last year, prices have jumped by nearly 200 million won in roughly two months.
A similar pattern is emerging in other major complexes in Suji District. An 84-square-meter unit in Gwanggyo Xi The Class in Sanghyeon-dong set a new record at 1.52 billion won, while an 84-square-meter unit in the Gwanggyo Kyungnam Honoursville Apartment Complex traded for 1.425 billion won. In Seongbok-dong, an 84-square-meter unit in Seongbok Station Lotte Castle Park Nine also hit a new peak at 1.385 billion won.
The upward trend continues in complexes around Pungdeokcheon-dong and Dongcheon-dong as well. An 84-square-meter unit in Sinjeong 7th Complex Sangnok Apartment in Pungdeokcheon-dong recently sold for 1.38 billion won, and an 84-square-meter unit in Dongcheon Central Xi in Dongcheon-dong fetched 1.33 billion won, both marking recent record highs.
Hanam is also seeing a wave of record-breaking deals. In Hagam-dong, an 84-square-meter unit in Wirye Lotte Castle changed hands last month for 1.7 billion won, setting a new high for the complex. Compared with a transaction at around 1.5 billion won in November last year, the price has risen by roughly 200 million won in about three months.
Analysts say the surge in home prices in southern Gyeonggi Province is largely driven by relatively lower price levels compared with Seoul, combined with favorable transport links and industrial development prospects. The Shinbundang Line offers convenient access to Pangyo and Gangnam, creating strong live-work proximity that continues to attract buyers. Expectations surrounding the development of the Yongin Semiconductor Cluster are also boosting buyer sentiment.
Lee Eun-hyeong, Senior Research Fellow at the Korea Research Institute for Construction Policy (RICON), stated, "Suji is an area where demand keeps flowing in because it is close to Pangyo and offers good proximity between home and workplace." He added, "Since home prices there rose later than in other regions, there is still room for further increases."

en1302@fnnews.com Jang In-seo Reporter