Suwon Leads National Housing Prices After Gwonseon, Now Yeongdeungpo at No. 1

Suwon apartment prices have claimed the nation's top growth rate for two consecutive weeks, leading the surge in housing prices in southern Gyeonggi Province.

According to the Korea Real Estate Board's national weekly apartment price trends for the second week of September (as of the 14th), released on the 17th, Suwon's Yeongdeungpo District recorded a 0.61% increase from the previous week, marking the highest growth rate in the nation.

This is more than seven times the national average of 0.08% and more than three times higher than Gyeonggi Province's average of 0.18%.

Yeongdeungpo District saw increases of 0.75% on the 24th of last month and 0.65% on the 31st, followed by a slowdown to 0.47% on the 7th of this month, but the growth rate expanded again to 0.61% this week.

High-priced transactions have continued in actual deals. A 84.55 square meter unit in Ieui-dong Nature and Hillstate was traded for 2.12 billion won on the 29th of last month. This is 20 million won higher than the previous transaction on July 11th at 2.1 billion won.

In particular, Gwonseon District, which recorded the nation's highest growth rate of 0.48% last week, maintained its strong performance with a 0.42% increase this week.

Gwonseon District showed a declining growth rate from 0.58% on the 24th of last month, to 0.49% on the 31st, 0.48% on the 7th of this month, and 0.42% on the 14th, but it has maintained high growth rates exceeding 0.4% for four consecutive weeks.

The Korea Real Estate Board analyzed that prices rose mainly in Gwonseon and Geumkok-dong.

Gwonseon District's upward trend is notable as it is an unregulated area, unlike some regions in southern Gyeonggi Province designated as land transaction permit zones. In land transaction permit zones, housing acquisition requires permits and mandatory owner occupancy, whereas Gwonseon District is not subject to such regulations.

Other areas in Suwon also exceeded the Gyeonggi Province average. Paldal District increased its growth rate from 0.37% the previous week to 0.39% this week, while Jangan District decreased from 0.38% to 0.30%, but still surpassed the Gyeonggi Province average of 0.18%.

Accordingly, Suwon's four districts this week recorded growth rates of Yeongdeungpo 0.61%, Gwonseon 0.42%, Paldal 0.39%, and Jangan 0.30%, all exceeding the Gyeonggi Province average.

One factor in the recent rise in housing prices centered on Suwon and southern Gyeonggi Province is the inflow of liquidity through Samsung Electronics' internal housing loans.

Samsung Electronics launched an internal housing loan program this month that lends up to 500 million won at an annual interest rate of 1.5% for unmarried employees purchasing homes priced at 2.5 billion won or less.

Experts analyze that as liquidity inflow through Samsung Electronics' internal loans accelerates, most areas of Suwon are showing strength, and transactions centered on end users are continuing in Yongin's Giheung and Hwaseong's Dongtan, which are semiconductor plant commute zones.

In fact, in the semiconductor industrial areas of southern Gyeonggi Province that share a living area with Suwon, the growth rate has also expanded. Yongin's Giheung District increased from 0.33% the previous week to 0.42%, while Hwaseong's Dongtan District rose from 0.22% to 0.31%.

This contrasts with the trend in Seoul's Gangnam 3 districts.

Seoul apartment prices rose 0.16% this week, continuing their upward trend, but the growth rate declined from 0.20% the previous week. In particular, Gangnam District fell 0.36%, Seocho District fell 0.26%, and Songpa District fell 0.12%. Songpa District showed declines for two consecutive weeks after -0.02% the previous week.

Meanwhile, in Seoul, high growth continued centered on northern districts, with Jungnang District up 0.51%, Dobong and Seodaemun Districts each up 0.47%, and Seongbuk District up 0.43%.

Gyeonggi Province's overall apartment prices expanded from 0.17% the previous week to 0.18% this week, and the national figure rose 0.08%.

As price adjustments continue in Seoul's Gangnam area, Suwon has seen high growth rates continuing, centered on southern Gyeonggi Province, with Yeongdeungpo District reaching the nation's top growth rate this week following Gwonseon District last week.