Bundang, Suji and Yeongtong see prices rise... leading the real estate market

[Financial News] Apartment prices have been rising rapidly in Bundang District, Seongnam, Gyeonggi Province; Suji District, Yongin; and Yeongtong District, Suwon. Major apartment complexes have been setting new record highs one after another, leading the market's upward trend.
On the 6th, the Korea Real Estate Board reported that as of September, apartment sale prices in Bundang District, Seongnam, had risen 24.7% from the same month a year earlier. That was the highest increase among 175 cities, counties and districts nationwide over the same period.
Suji District, Yongin, ranked third nationwide with a 20.5% increase, while Yeongtong District, Suwon, rose 17.8% to tie for fifth place.
The upward trend continues. According to the Korea Real Estate Board's weekly apartment price report for the second week of October (as of the 12th), prices in Bundang District, Seongnam, rose 0.79% from the previous week, widening the increase by 0.23 percentage points from the prior week's 0.56%. Yeongtong District, Suwon, also rose 0.69%, a larger gain than the previous week's 0.62%.
Price increases at individual complexes are even steeper. According to the Actual Transaction Price Disclosure System of the Ministry of Land, Infrastructure and Transport, an 84-square-meter unit at Pangyo Punggyeongchae Urbanity Complex 5 in Pangyo Daejang District, Bundang District, Seongnam, sold for KRW 1.6 billion in September this year, setting a record high. That was KRW 310 million more than the KRW 1.29 billion recorded in October last year. An 84-square-meter unit at Dongcheon Xi in Dongcheon-dong, Suji District, Yongin, sold for KRW 1.29 billion in October, up KRW 260 million from the same month a year earlier.
Attention is also turning to homes scheduled to go on sale this month. Siwon Co., Ltd., an affiliate of real estate developer DSD Samho, will offer Nam Pangyo The Hill this month in Gogi-dong, Suji District, Yongin, Gyeonggi Province. The large complex will comprise 16 buildings of up to 15 stories above ground, with 892 homes and exclusive floor areas of 59–99 square meters. Hyundai Engineering and Construction is expected to handle construction. 
The complex will have extensive community amenities, including an infinity pool, golf practice range, sauna, medical facilities, guest rooms and a children's play area. It is the first for-sale senior housing development to come to market in 11 years. 
Gyeonggi Housing and Urban Corporation (GH) and a Dongbu Construction-led consortium are offering Gwanggyo Jayeon& Centerville in Woncheon-dong, Yeongtong District, Suwon. The complex will consist of nine buildings, with two basement levels and up to 20 floors above ground, and will have 600 homes with exclusive floor areas of 59–84 square meters.

[email protected] Kwon Jun-ho Reporter