"Comfort Over Frugality": Growing Preference for New Apartments Among People in Their 30s and 40s

Among Housing Subscription Winners in Greater Seoul,
8 Out of 10 Are in Their 30s and 40s

Recently, a clear residential trend has emerged in the greater Seoul real estate market, with people in their 30s and 40s showing a strong preference for new apartments. Modern floor plans, community facilities, parking convenience, and security systems have become key factors in their housing choices.

An apartment complex in the area around Dongtan Station, Hwaseong City, Gyeonggi Province. The Samsung Electronics Hwaseong Campus can be seen behind the apartment complex. Photo by Yonhap News

According to Korea Real Estate Board on July 4, out of 7,493 successful applicants for housing subscriptions in the greater Seoul area in the first quarter of this year, 6,497 were people in their 30s and 40s, accounting for 86.71% of the total. This proportion has increased every year, from 81.84% in the first quarter of 2024 and 85.18% in the first quarter of 2025.

A similar trend can be observed in the sales market. In the first quarter of this year, out of a total of 70,861 apartment transactions in the greater Seoul area, people in their 30s and 40s accounted for 58.96% (41,782 transactions). Previously, the proportion of apartment sales by people in their 30s and 40s was 55.69% in the first quarter of 2024 and 58.58% in the first quarter of 2025. The increasing sales ratio each year suggests that the influence of the 30s and 40s generation, who prefer new buildings, will continue to grow in the greater Seoul real estate market.

A real estate agent in Dongtan District, Hwaseong, Gyeonggi Province, which has recently been designated as a regulated area, said, "Many members of the younger generation were born and raised in apartments, so rather than focusing on 'body-tech' (building wealth through living frugally in old apartments), they prefer clean, new apartments, even if it means a longer commute."

Even with similar locations and the same apartment size, the appreciation rates differ depending on the building's age.

According to the Ministry of Land, Infrastructure and Transport’s official actual transaction data, an 84-square-meter unit at "Dongtan Station Lotte Castle" (moved in 2021) near Dongtan Station was sold for 2.05 billion won (28th floor) in May of this year. This marks an increase of 515 million won (33.5%) compared to 1.535 billion won (38th floor) in May last year. In contrast, an 84-square-meter unit at the nearby "Dongtan Station Siheom The Sharp Central City" (moved in 2015) was sold for 1.53 billion won (12th floor) in May of this year, up only 280 million won (22.4%) from 1.25 billion won (13th floor) in May last year.

At "Hillstate Prugio Suwon" (moved in 2023) in Paldal District, Suwon, Gyeonggi Province, an 84-square-meter unit was sold for 950 million won (14th floor) in May this year, up 150 million won (18.7%) from 800 million won (14th floor) in May last year. In contrast, an 84-square-meter unit at the adjacent "Suwon Station Haemoro" (moved in 2015) was sold for 640 million won (6th floor) in May this year, increasing by only 50 million won (8.4%) compared to 590 million won (7th floor) in May last year.

This content was produced with the assistance of AI translation services.