More than 10,000 Seoul residents bought dwellings in Gyeonggi Province during the three months just before the end of the temporary suspension of heavier capital gains taxes on owners of multiple dwellings.
According to the court's Registration Information Plaza on the 25th, among buyers of multi-unit buildings (apartments, villas, and officetels) located in Gyeonggi from Feb. to Apr., 11,614 had addresses in Seoul. By month: ▲ February 3,815 ▲ March 3,951 ▲ April 3,848. That is 832 more than the preceding three months (10,782).
In particular, Seoul residents accounted for 15.69% of buyers of multi-unit buildings in Gyeonggi in April, the highest level in 3 years and 9 months since June 2022 (16.28%).
Buyers increased in Gyeonggi areas with good accessibility to key parts of Seoul and favorable residential environments. Demand from Seoul residents was strong in Goyang (619→739), Gwangmyeong (48→698), Guri (399→605), and Namyangju (667→877). Buyers also increased in Dongan District, Anyang (509→537); Suji District, Yongin (398→468); Giheung District, Yongin (232→320); and Dongtan District, Hwaseong (190→289).
Analysts say demand was strong this time because Gyeonggi, compared with Seoul's outskirts and other areas, has many new builds and owners of multiple dwellings put properties on the market, keeping prices relatively low. They also interpret that the sharp rise in jeonse prices in Seoul spurred more buyers to seek dwellings in Gyeonggi areas with favorable living conditions.
A real estate expert said, "The fact that demand grew in Goyang, Gwangmyeong, and Namyangju means demand increased in areas connected to Seoul by subway where commuting is feasible," adding, "With Seoul sale prices and both jeonse and monthly rents rising at the same time, listings from owners of multiple dwellings led Seoul residents to turn their attention to Gyeonggi."