Suwon's Yeongdeungpo Apartment Prices Post Nation's Highest Weekly Gain in October

Apartment prices in Suwon's Yeongdeungpo District have continued to record the nation's highest weekly gains as October began.

According to weekly apartment price trends announced by the Korea Real Estate Board on the 8th, apartment transaction prices in Yeongdeungpo District rose 0.62% from the previous week. This significantly outpaced the average rise of 0.18% for Gyeonggi Province during the same period. The increases were led primarily by small and mid-size apartments in Yeongdeung and Mangpo districts.

Yeongdeungpo District's weekly rise rates progressed from 0.47% on September 7th to 0.61% on the 14th and 1.09% on the 21st. Based on October 5th data, it recorded 0.62%, a narrower gain than late September, but maintained the nation's top levels. This suggests the reduced rate of increase should not be interpreted as a price decline.

Higher gains were also seen previously in Gwonseon District. On September 7th, it topped the nation at 0.48%, followed by 0.42% on the 14th and 0.66% on the 21st. In mid-September, prices rose primarily in Gwonseon and Geumgok districts. This demonstrates that Suwon's housing price increases are not confined to Yeongdeungpo District alone.

The background to housing price increases in southern Gyeonggi Province has been attributed to Samsung Electronics' in-house mortgage loans and demand from areas with good workplace accessibility.