Average price of a standard-sized apartment in Gyeonggi jumps 50 million won... Areas south of the Han River, including Dongtan and Gwangmyeong-si, lead the rise

[Financial News] The average sale price of a standard-sized apartment (84 sq. m. of exclusive-use area) in Gyeonggi Province has risen by about 50 million won so far this year. Areas south of the Han River, with convenient access to Gangnam and strong self-sufficient economies, have led the upward trend.
According to data from Real Estate R114 released on the 14th, the average apartment sale price in Gyeonggi Province stood at 20.33 million won per 3.3 sq. m. in September. That was up 1.39 million won (about 7.3%) in nine months from 18.94 million won at the end of last year, equivalent to an increase of about 47.26 million won for an 84-sq.-m. apartment.
By city-level area, strength was particularly pronounced south of the Han River. Gwangmyeong-si recorded the highest increase, at 16.2%, followed by Seongnam (11.7%), Anyang (11.3%), Yongin (11.1%), Hanam (10.9%) and Hwaseong (10.7%). All six areas that posted increases of at least 10% were concentrated south of the Han River. North of the river, Guri (9.1%) was the only area to exceed the Gyeonggi average.
At the district level, the increase in Dongtan District, Hwaseong, was the most notable. Prices there rose 15.6% to 27.7 million won per 3.3 sq. m., equivalent to a jump of 127.16 million won for an 84-sq.-m. apartment. Suji District in Yongin (15.4%), Dongan District in Anyang (12.6%), Jungwon District (12.0%) and Bundang District (11.7%) in Seongnam, and Paldal District in Suwon (10.7%) also saw steep increases.
Industry experts cite excellent access to Gangnam and jobs (self-sufficiency) as the reasons behind southern Gyeonggi’s strength. Their analysis is that the spillover from rising home prices in Gangnam has reached neighboring areas, while large-scale semiconductor-related tailwinds in Dongtan, Hwaseong, and Suji, Yongin, have also heated up the market.
Amid this upward trend, new developments in key areas of southern Gyeonggi are also set to begin presales in earnest this month.
POSCO E&C will launch sales this month for Akeumereu Dongtan, a high-end residential complex with 1,808 units, in Bansong-dong, Dongtan District, Hwaseong, Gyeonggi Province. The complex is close to Samsung Electronics’ Nano City Hwaseong Campus, offering convenient access between home and work. It will also stand out through design contributions from world-renowned artist Janaina Milheiro and the use of top-tier European luxury kitchen cabinetry and finishing materials.
LOTTE Engineering & Construction Co., Ltd. plans to sell Hwaseong Hyangnam LOTTE Castle Signature, with exclusive-use areas of 84–120 sq. m. and 1,542 units in total, in Sangsin-ri, Hyangnam-eup, Hwaseong, Gyeonggi Province. Hyangnam Station on the Seohae Line is conveniently accessible, and transport links to Seoul and other major cities are expected to improve significantly with the planned extension of the Sinansan Line and a project connecting the Seohae Line to the Gyeongbu High-Speed Railway (KTX).
GS Engineering & Construction will launch sales in October for Areumyuje Xi, comprising 984 apartments and 370 officetel units, for a total of 1,354 units. The complex will be built on the former Homeplus site in Seongpo-dong, Sangnok-gu, Ansan, Gyeonggi Province. It is near Jungang Station on Seoul Subway Line 4 and the Suin–Bundang Line, and will benefit from transport projects including the Incheon-origin KTX, targeted to open in December this year, and the GTX-C line, with full-scale construction at Sangnoksu Station.
[email protected] Jeon Min-gyeong Reporter