“Was the private-academy premium really this high?” ... Up to 600 million won above the regional average

[Financial News] Apartment prices in areas with large private-academy districts were found to be hundreds of millions of won higher than the regional averages. In particular, Pyeongchon, Dongtan and Beomeo-dong saw price increases over the past year that exceeded their regional averages.
According to Real Estate R114 on the 21st, the average apartment sale price in Daechi-dong, Gangnam District, Seoul, was 105.3 million won per 3.3 square meters, 6.8 million won higher than the Gangnam District average of 98.5 million won. For an apartment with 84 square meters of exclusive floor area, that translates into a difference of about 231.2 million won.
Mokdong, Yangcheon District, Seoul, also had an average sale price of 66.3 million won per 3.3 square meters, 11.23 million won above the Yangcheon District average of 55.07 million won. By the same calculation, the price difference for an apartment with 84 square meters of exclusive floor area was about 381.82 million won.
A similar trend was seen in Gyeonggi Province. The average apartment sale price in Pyeongchon-dong, Anyang, was 36.41 million won per 3.3 square meters, 7.56 million won higher than the Anyang average of 28.85 million won. The difference comes to about 257.04 million won for 84 square meters of exclusive floor area. In Bansong-dong, Dongtan-gu, Hwaseong, home to the Dongtan 1 New Town academy district, the price was 23.35 million won per 3.3 square meters, 3.32 million won above the Hwaseong average of 20.03 million won. That amounts to about 112.88 million won more for a single 84-square-meter apartment.
Outside the Seoul metropolitan area, the price gap in Beomeo-dong, Suseong District, Daegu, stood out. The average sale price there was 30.79 million won per 3.3 square meters, 18.94 million won higher than the Daegu average of 11.85 million won. At 643.96 million won, the price difference for 84 square meters of exclusive floor area was the largest among the areas surveyed.
In some major private-academy districts, home-price increases over the past year also outpaced the averages for their respective areas.
From September last year to September this year, the average apartment sale price in Pyeongchon-dong, Anyang, rose by 5.47 million won per 3.3 square meters. That was 1.72 million won more than the 3.75 million won increase in Anyang overall during the same period.
In Bansong-dong, Hwaseong, prices also rose by 2.95 million won per 3.3 square meters, exceeding the Hwaseong average of 2.32 million won by 630,000 won. Beomeo-dong, Daegu, saw an increase of 2.74 million won, 2.53 million won more than the citywide average increase of 210,000 won.
An industry source said, “For parents, who can be considered the main demand group in the housing market, educational conditions are one of the most important factors when choosing where to live.” The source added, “With the private-education craze so intense that a parent chauffeuring culture has become commonplace, proximity to large private-academy districts is a factor that greatly influences home prices.”
New apartment projects are set to go on sale in succession in areas where residents can access private-academy districts like these.
In Bansong-dong, Dongtan-gu, Hwaseong, Gyeonggi Province, Acmer Dongtan, being built by POSCO E&C, will begin accepting subscription applications with special-supply applications on the 26th. It is close to the Bansong-dong academy district, and nearby educational facilities include Hakdong Elementary School, Hwaseong Geumgok Elementary School, Seokwoo Middle School and Dongtan High School.
POSCO E&C plans to sell The Sharp Cheonan Lac One in Budae-dong, Seobuk District, Cheonan, South Chungcheong Province. The complex will consist of 10 buildings, with two basement levels and up to 37 above-ground floors, and a total of 1,290 households. Of these, 1,032 will be offered for general sale. Seongseong 4 Elementary School and nearby Upseong Middle School are scheduled to open in March 2029, and residents will be able to use the academy district in Seongseong District.
GS E&C plans to build Ar Muse Xi on the former site of the Homeplus Ansan branch in Seongpo-dong, Sangrok District, Ansan, Gyeonggi Province. The complex will have up to 49 floors across six buildings, with a total of 1,354 units, including 984 apartments and 370 officetel units. The Gojan-dong academy district is located nearby.
[email protected] Choi A-young Reporter