Let’s say they add 50 million won to the price, and the property is taken back… “The best place to raise children”
“A homeowner who put an 18-pyeong apartment on the market for 1.55 billion won in early August raised the asking price a week later when a buyer showed up offering to buy it for 1.6 billion won, saying he would not sell it.” (Kwon Mo, a real estate agent in Jungang-dong, Gwacheon-si, Gyeonggi-do)
“If you print out the listing information on paper and put it on the office door, the listing will be sold in less than a day, so transactions are so active that you have to tear down the paper.” (Kim, a real estate agent in Changgok-dong, Sujeong-gu, Seongnam-si, Gyeonggi-do)
The rise in housing prices that started in Seoul is spreading to the Gyeonggi region, which is close to Seoul. In particular, the buying trend is concentrated in Gwacheon and Seongnam, Gyeonggi Province, which are called the “next districts of Seoul” because they are adjacent to Seoul. Gwacheon and Seongnam are part of Gyeonggi Province in terms of administrative districts, but they are adjacent to Gangnam, Seoul, and have good educational conditions, so they are places where real estate demand is high.
Real estate agents in Gwacheon and Seongnam whom the reporter met on September 1-2 all agreed that “the buying trend that had been increasing since May peaked in July and has been slowing down since August.” Mr. Choi, a real estate agent in Jeongja-dong, Bundang-gu, Seongnam-si, said, “There were so many transactions in July that even properties that had not been sold for a year and a half were sold,” and “After August, the number of transactions decreased as landlords raised the asking price or took their properties off the market, reducing the number of properties on the market.” Mr. Kwon, a real estate agent near the Gwacheon Daejang Apartment “Prugio Summit,” said, “When house prices in the Gangnam area of Seoul began to rise, the buying trend shifted to Gwacheon about a month later, and there were many inquiries about purchasing until July.”
According to the Korea Real Estate Board, the apartment price increase rate in the fourth week of August (as of the 26th) was 0.4% in Gwacheon, 0.34% in Seongnam Sujeong-gu and Bundang-gu, which were higher than Gangnam-gu (0.33%), Yongsan-gu (0.32%), and Mapo-gu (0.31%).
Gwacheon, which broke the record before Mapo-gu
Apartment transaction volume has also increased since May. According to real estate big data company ‘Asil’, as of September 5, the number of transactions for ‘Wirye Central Zai’ in Sujeong-gu, Seongnam-si increased from 8 in January, 4 in February, 8 in March, and 8 in April to 14 in May, 13 in June, and 23 in July, and then decreased to 12 in August. Apartment transactions in Gwacheon maintained double-digit levels with 36 in January, 35 in February, 53 in March, and 81 in April, but increased to triple-digits with 109 in May, 167 in June, and 107 in July, and then decreased to 31 in August.
Although the transaction volume decreased in August, the price increased. The most expensive apartment in Gwacheon, ‘Gwacheon Prugio Summit’, was traded at 2.29 billion won for an exclusive area of 84㎡ on August 17, recording a price that is 90 million won higher than the previous high (2.2 billion won) in 2021. It achieved the highest price ten days earlier than ‘Mapo Prestige Zai’ in Mapo-gu, Seoul, which also recorded the highest price when the same area was traded at the same price on August 27. ‘Wirye Central Zai’ in Sujeong-gu, Seongnam-si, with an exclusive area of 59㎡, was traded at 1.33 billion won in August, rising the actual transaction price to 90% of the previous high. Considering that another unit in the same building was traded at 1.139 billion won in March, it has risen by nearly 200 million won in half a year. The exclusive area of 35㎡ in ‘Hansol Village Public Housing 4th’ in Bundang-gu, Seongnam-si was traded at 620 million won on August 20, up 27% from the price two months ago (488 million won).
Real estate industry insiders in Gwacheon and Seongnam recently analyzed that people in their 30s and 40s are driving apartment transactions. Mr. Choi, a certified real estate agent in Bundang-gu, said, “Young couples raising children in 4th or 5th grade or higher are a solid buying group in this area.” Mr. Kim, a certified real estate agent in Gwacheon, said, “Young people in their 30s and 40s are mainly purchasing apartments in the 20s and 30s with loans,” and “In Gwacheon, there are many young couples who sell their 20s and 30s apartments and move to apartments in the 30s.”
The 3040 generation mainly purchases 20-30 pyeong apartments
The reason why buyers in their 30s and 40s seek out Gwacheon and Seongnam is because they are good places to raise children. Mr. Kim, a certified real estate agent in Gwacheon, said, “Gwacheon is preferred by couples with children in elementary or middle school because there are no hazardous facilities and the natural environment, such as the Gwanaksan Valley,” and “Gwacheon is better than ‘Nodogang (Nowon, Dobong, Gangbuk-gu)’ for raising children.” A certified real estate agent in Bundang-gu analyzed, “Apartments in Bundang-gu are not newly built, which young couples prefer, but the school district is good,” and “It is the same psychology that makes people want to live in Daechi-dong because the school district is good, even though the apartments in Daechi-dong are not newly built.”
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Gwacheon/Seongnam = Reporter Lim Kyung-jin [email protected]
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2024-09-08 07:33:28