'Semiconductor Hub' Southern Gyeonggi Province... a 'Lone Boom' in Gyeonggi Province, a Graveyard of Unsold Homes

[Financial News] While unsold housing in Gyeonggi Province has increased for years, creating a supply backlog, areas in southern Gyeonggi Province with extensive semiconductor infrastructure are showing a starkly different trend. Unsold inventory has plunged in these semiconductor corridor areas, while home prices continue to post solid gains.
According to data from Real Estate R114 on the 30th, the number of unsold homes across Gyeonggi Province bottomed out at 1,030 units in 2021 before steadily rising to 14,394 units as of July this year. By contrast, unsold inventory is being rapidly cleared or remains at a low level in Icheon City, home to SK hynix, and Hwaseong City, where Samsung Electronics campuses are located.
In Osan, in particular, the number of unsold homes plunged from 994 in December 2024 to 31 as of June this year as new supply became concentrated in the area, effectively clearing the backlog. The decline is attributed to the area's growing value as a residential base connecting the nearby Yongin Semiconductor Cluster with Hwaseong and Dongtan. In fact, an 84-square-meter unit at Banjeong IPark Castle 5 Complex in Banjeong-dong, Hwaseong City, recently traded for 1.01 billion won, demonstrating a sharp rise in prices fueled by expectations surrounding the development of the Yongin Semiconductor Cluster.
Against this backdrop, major new housing developments near the semiconductor industrial belt in southern Gyeonggi Province are drawing attention in the second-half housing market.
In October, POSCO E&C will begin selling the officetel units at The Sharp Osan Station Arc City in Block M1 of Osan Segyo 2 District, Gyeonggi Province. The development consists of 897 apartments and 90 officetel units. It offers convenient commuting access to Dongtan Techno Valley and the Samsung Electronics Hwaseong Campus and is considered a beneficiary of the Yongin Semiconductor Cluster.
KCC Engineering & Construction (KCC E&C) plans to offer Hyangnam Station Grove Switzen for sale in October in the Hagyil-ri area of Hyangnam-eup, Hwaseong City. It is the first branded development to be supplied in the area in five years and will comprise 933 units with exclusive-use areas ranging from 71 to 147 square meters. Its proximity to the H-Techno Valley development project and the pharmaceutical and Balan industrial complexes is expected to provide the benefit of close access to workplaces.
Hanwha Corporation E&C Division will offer Hanwha Forena Jije Station for sale in October in Segyo-dong, Pyeongtaek-si. The development comprises 1,098 units with exclusive-use areas of 84 and 116 square meters. It is attracting attention because it is close to the Samsung Electronics Pyeongtaek Campus and located near PyeongtaekJije Station, where transportation-related advantages include extensions of Metropolitan Area Rapid Transit Line A (GTX-A) and Great Train eXpress Line C (GTX-C), as well as KTX service departing from Suwon.
An industry expert said, "As uncertainty in the housing market grows, people are increasingly inclined to choose self-sufficient cities with solid employment bases. The popularity of residential areas serving as a base for nearby industrial hubs, equipped with both transportation and daily-life infrastructure and centered on the semiconductor industrial corridor in southern Gyeonggi Province, is expected to continue for the time being."

[email protected] Jeon Min-kyung Reporter