Home prices in southern Gyeonggi are rising quickly on expectations of a boom in the semiconductor industry. Apartment prices in Dongtan District of Hwaseong, Gyeonggi, showed the highest growth rate among basic local governments nationwide (si, gun, gu).
According to the Korea Real Estate Board (REB) weekly apartment price trends on the 7th, apartment sale prices in Dongtan District of Hwaseong rose 0.6% in the first week of June (as of June 1). This was the highest growth rate in the country and the highest since the second week of February, when Dongtan District was separated as a general district. Since the separation, the cumulative sale price increase in Dongtan District is 4.98%. It ranked fourth nationwide after Dongan District of Anyang (5.41%), Muan County in South Jeolla (5.31%), and Gwangmyeong, Gyeonggi (5.23%).
Nam Hyeok-woo, a real estate researcher at Woori Bank, said, "Expectations of a semiconductor industry boom are pushing up home prices in southern Gyeonggi," and noted, "Apartment prices in Dongtan District recorded the highest growth rate nationwide, and the semiconductor industry's hinterland residential areas such as Yeongtong in Suwon and Giheung and Suji in Yongin are also staying strong." Nam added, "In particular, Dongtan, a dense apartment area with a wide-area transportation network and a favorable residential environment, is leading price gains," and said, "Some buyers are joining in to purchase in advance with tenants in place in anticipation of future price increases."
Record-high transactions have continued at major apartment complexes in Dongtan. On May 13, a 106-square-meter exclusive-use unit at "Dongtanyeok The Sharp Central City" in Cheonggye-dong was traded for 1.945 billion won, setting a new record high. That is 155 million won higher than the previous record. On the 30th of the same month, a 92-square-meter exclusive-use unit at "Dongtanyeok Samjeong Greencore The Best" in Yeoul-dong also changed hands for 1.48 billion won, marking a record high.
Meanwhile, not only Dongtan but also home prices in semiconductor hinterland areas in southern Gyeonggi are showing strength. Yeongtong District in Suwon rose 0.26% from the previous week, Giheung District in Yongin rose 0.21%, and Suji District in Yongin rose 0.2%.