Seoul home-price burden drives surge in mid-to-large apartment transactions in Gyeonggi Province and Incheon

[Financial News] With Seoul apartment prices continuing to rise over an extended period, homebuyers facing greater housing costs are turning to Gyeonggi Province and the Incheon area, where prices are relatively more competitive. Transactions have picked up particularly for mid-to-large apartments with exclusive-use areas of 84 square meters or more, which are popular with owner-occupiers, drawing attention to new developments in areas near Seoul.
According to the Korea Real Estate Board (KREB) on the 3rd, Seoul apartment sale prices had risen for 90 consecutive weeks as of the end of October 2026. This is believed to reflect growing demand for alternative places to live as cumulative price increases have made buying a home in Seoul more burdensome.
Transaction data also confirms this trend. An analysis of the Ministry of Land, Infrastructure and Transport’s actual apartment sales data found that from January to October 2026, Seoul apartment transactions totaled 54,642, down 21.0% from the same period a year earlier. By contrast, transactions in Gyeonggi Province (135,246) and Incheon (24,379) rose by 16.0% and 6.9%, respectively. Combined transactions in Gyeonggi Province and Incheon totaled 159,625, up 14.5% from the same period last year.
The increase was especially pronounced in transactions of mid-to-large apartments with exclusive-use areas of 84 square meters or more. While transactions of mid-to-large apartments in Seoul fell by 27.8%, they rose 15.8% year over year to 77,971 in Gyeonggi Province and Incheon. Transaction growth was particularly strong in areas near Seoul, including Guri, Bucheon, Namyangju and Bupyeong District, Incheon.
As preference for mid-to-large homes in areas near Seoul grows in the existing housing market, attention is shifting to new developments in major land development districts and new towns across the Seoul metropolitan area, where well-planned infrastructure is being established.
Bando Construction will open first-priority subscription applications on the 3rd for Gyeyang New Town’s first privately sold apartment complex, “Gyeyang New Town Caiiv Yuboraa.” The complex will have two basement levels and 15 floors above ground, with 1,110 homes in total and exclusive-use areas of 84, 92 and 93 square meters. About 80% of the homes will be 84 square meters. It will also feature amenities such as a guesthouse, household storage units and a dry car-wash area, alongside the branded retail facilities “Sigan” (Time).
In the Galmae Station area of Guri, Gyeonggi Province, ShinAn will offer “ShinAn Insvill Decent,” in Block B-1 of the Guri Galmae Station Area. Jungnang-gu and Nowon-gu in Seoul are nearby, and residents can use Galmae Station on the Gyeongchun Line and Byeollae Station, an interchange between Seoul Subway Line 8 and the Gyeongchun Line.
In Siheung, Gyeonggi Province, Gyeryong Construction will offer “Elif Siheung The Prime” in Block B-5 of the Siheung Geomo Public Housing District. The development is near Singil Oncheon Station, served by Seoul Subway Line 4 and the Suin–Bundang Line.
In Unjeong New Town in Paju, Gyeonggi Province, “GTX Unjeongjungang Station Citypradium Complexes 3 and 4” is going on sale. The regional transit network, including Unjeongjungang Station on the Metropolitan Area Rapid Transit Line A (GTX-A), enables quick travel to downtown areas such as Seoul Station.

[email protected] Jeon Min-kyung Reporter