Dongtan District, a regulated area in Hwaseong, Gyeonggi, and Byeongjeom District, a nonregulated area, both topped the apartment price growth rankings. In regulated areas of the Seoul metropolitan region, Dongtan District ranked No. 1 in weekly price growth for both 59㎡ and 84㎡ exclusive-use apartments, while adjacent Byeongjeom District ranked No. 1 for the same sizes in nonregulated areas. As the price rally that began in Dongtan spreads to nearby areas such as Byeongjeom, in-house dwellings loans at Samsung Electronics that took effect this month have also emerged as a variable for the southern Gyeonggi housing market.
According to Real Estate R114 on the 2nd, as of the 28th of last month, among regulated areas in the Seoul metropolitan region, Dongtan District recorded the highest weekly increase in 59㎡ exclusive-use apartment prices at 1.65% from a week earlier. The average price increase per household was 11.79 million won. Suwon's Yeongtong District rose 0.80%, Uiwang rose 0.55%, and Seongnam's Sujeong District rose 0.47%.
In nonregulated areas for 59㎡ exclusive-use units, Byeongjeom District posted the highest increase at 0.60%. The average price per household rose by 2.34 million won. Suwon's Gwonseon District and Gwangju City each rose 0.27%, and Anyang's Manan District rose 0.17%. Regulated Dongtan District and adjacent nonregulated Byeongjeom District each ranked No. 1 in growth for the same size.
The same trend appeared for 84㎡ exclusive-use units, known as the "national standard size." In regulated areas, Dongtan District rose 0.49% in a week to take the top growth spot. Suwon's Yeongtong District followed at 0.45% and Gwangmyeong City at 0.35%. Seongnam's Bundang District saw the largest increase in average price per household at 5.3 million won, but its growth rate was 0.32%, lower than Dongtan District.
In nonregulated areas for 84㎡ exclusive-use units, Byeongjeom District also ranked No. 1 with a 0.27% rise. Yongin's Cheoin District rose 0.26%, Namyangju City 0.19%, and Gwangju City 0.18%. Incheon's Yeonsu District and Suwon's Gwonseon District also each rose 0.17%. By contrast, some outer metropolitan areas continued to decline, including Ganghwa County (-0.17%), Icheon City (-0.14%), and Gapyeong County (-0.10%).
In the actual transaction market, rising transactions in Dongtan District and Byeongjeom District continued. A 59㎡ exclusive-use unit at Dongtanyeok Hoban Summit in Cheonggye-dong sold for 890 million won on June 24 and 990 million won two days later. On the 14th of last month, a 20th-floor unit sold for 1.03 billion won.
A 59㎡ exclusive-use unit at Dongtanyeok Central Sangnok in Yeongcheon-dong also rose from 950 million won in late May to 1.19 billion won in late June. Deals in the 1.1 billion won range continued last month.
A 59㎡ exclusive-use unit at Byeongjeom Station I'Park Castle in Byeongjeom-dong, Byeongjeom District, sold for 700 million won on the 8th of last month and then for 780 million won on the 22nd. The same complex's 84㎡ exclusive-use units traded around 850 million won in mid-July and then changed hands for 925 million won on the 11th of last month. Some asking prices by sellers climbed into the 1 billion won range. An 84㎡ exclusive-use unit at Banjeong I'Park Castle Complex 5 in Banjeong-dong also sold for 945 million won on the 13th of last month.
In-house housing fund loans at Samsung Electronics that start this month are another variable for the southern Gyeonggi housing market. Samsung Electronics lends up to 500 million won at an annual interest rate of 1.5% when employees without a home purchase a house. In the Seoul metropolitan region, eligible dwellings are those priced at 2.5 billion won or less with exclusive use of 85㎡ or less. With both Dongtan District and Byeongjeom District close to the Samsung Electronics Hwaseong campus and having many 59㎡ and 84㎡ exclusive-use apartments, some expect in-house loan demand to flow in.
Nam Hyeok-u of Woori Bank's Real Estate Research Institute said, "Although Dongtan home prices slowed after the regulated-area designation, expectations for additional capital inflows, such as in-house loans at Samsung Electronics, have grown, widening the increase again," adding, "In Dongtan, demand from actual buyers is flowing into apartments priced at 1 billion won or less, which are relatively cheaper, and the upward trend is spreading to surrounding areas."