"Did I Miss It Alone?" It Fell to 1.2 Billion Won, but Suji Is Now Above 1.8 Billion and Eyeing 1.9 Billion

[Financial News] Apartment prices in southern Gyeonggi Province are setting new record highs one after another. In Yongin Suji, next to Bundang, prices for a standard-size apartment have approached 1.9 billion won.
According to actual transaction data from the Ministry of Land, Infrastructure and Transport on the 24th, an 84-square-meter unit at Seongbok Station Lotte Castle Gold Town, the top complex in Suji District, sold for 1.805 billion won on the 15th. It was the first time that this type of unit had exceeded 1.8 billion won. It traded in the 1.7 billion won range in June and broke above 1.8 billion won this month.

Looking at the annual peak prices for a standard-size unit in this complex, the highest price in 2020 was 1.4 billion won. During the 2021 price surge, it climbed to 1.495 billion won, nearing 1.5 billion won. Prices then fell in 2022 and 2023, dropping to the 1.2 billion won range. After rebounding to 1.6 billion won last year, the price this year has moved beyond the 1.8 billion won mark.

Suji District's rate of increase is also outpacing nearby Bundang. As apartment prices in Bundang District rise, prices in Suji District are climbing as well, but the pace of increase is becoming steeper in Suji District. A representative from an S real estate agency in Suji District said, "Demand is flowing into Suji District because Bundang is so expensive," adding that "asking prices for listings are in the 1.9 billion to 2 billion won range."

Suji District has also surpassed Bundang in cumulative gains so far this year. Weekly statistics from KREB show that, through July 20, the top apartment sales-price increase this year was in Dongtan District in Hwaseong, up 15.57%. It was followed by Dongan District in Anyang at 11.35% and Yongin Suji at 11.24%. Bundang has risen 9.91% so far this year. Notably, most of the areas with the strongest gains are in southern Gyeonggi Province.
Meanwhile, KREB said that as of July 20, the number of surveyed areas with rising apartment sale prices had increased to 115 out of 182, or about 63%. The number of areas with rising jeonse prices also increased to 147.
[email protected] Lee Jong-bae Reporter