Gyeonggi-do Apartment Prices Rise for 56th Straight Week... Regulated Areas Outpace Seoul

Gyeongbu Area 1 rises 17.95%
Bundang posts biggest gain at 28.2%
Steady demand from owner-occupiers despite transaction restrictions
Rising demand from high-tech industry workers drives prices up

Gyeonggi-do's apartment sales price index has risen for 56 consecutive weeks. While Seoul apartment prices have continued to climb for 88 consecutive weeks through this week, setting a new record every week, some areas of Gyeonggi-do bordering Seoul have posted higher growth rates than the capital.

According to weekly apartment price trend data compiled by the Korea Real Estate Board on October 16, the apartment sales price index for Gyeonggi-do as a whole has risen for 56 consecutive weeks, from the third week of September 2025 through the latest period. That is shorter than the 126 consecutive weeks of gains recorded from 2019 to 2022, the longest rising streak on record, but the recent trend is noteworthy.

However, the trend varies by area. The Korea Real Estate Board tracks statistics by administrative region, dividing Gyeonggi-do into Gyeongbu Area 1 (Gwacheon, Anyang, Seongnam, Gunpo and Uiwang), Gyeongbu Area 2 (Anseong, Yongin and Suwon), the West Coast Area (Bucheon, Ansan, Siheung, Gwangmyeong, Hwaseong, Osan and Pyeongtaek), Eastern Area 1 (Namyangju, Guri, Hanam and Gwangju), Eastern Area 2 (Icheon and Yeoju), the Gyeongui Area (Gimpo, Goyang and Paju), and the Gyeongwon Area (Pocheon, Dongducheon, Yangju and Uijeongbu).

Among these regions, the apartment sales price index in Gyeongbu Area 1, which borders Seoul, rose 17.95% over the same period. This exceeded Seoul's 12.41% increase over that period. Gyeongbu Area 2 also rose 13.21% over the past year or so, outpacing Seoul. The government designated all of Seoul and 12 neighboring areas of Gyeonggi-do as regulated zones when it announced its October 15 measures in 2025, but home prices continued to rise steadily even after the designation.

Apartment complexes in Bundang-gu, Seongnam-si, Gyeonggi Province. Yonhap News

By individual area, Seongnam's Bundang-gu recorded the largest increase, at 28.20%. Demand in Bundang remained steady as redevelopment projects in the first-generation new towns gained momentum and the opening of Seongnam Station improved access to Seoul. Yongin's Suji-gu and Suwon's Yeongtong-gu also rose by around 20%, ranking among the areas with the steepest increases. The gains appear to have been driven by an influx of what is known as semiconductor-sector money.

For Hwaseong's Dongtan-gu, statistics have been compiled separately only since February 2026, so its increase over the same period is not available. However, the index rose 20.13% in the roughly eight months from the first week of February through the latest period. The increase is believed to reflect greater liquidity as demand grew, particularly among high-income employees, amid strong conditions in the semiconductor industry. Over the same period, the apartment sales price index fell in the northern Gyeonggi-do region of Gyeongui and in Eastern Area 2, which is relatively less accessible from Seoul.

Despite triple regulations, including stringent lending restrictions and transaction limits, prices continue to rise in some parts of Gyeonggi-do because, as in Seoul, supply is limited while demand from people seeking homes to live in remains steady. Although the Gangnam area has slowed somewhat recently, Seoul apartment prices have risen for about a year and a half, driving sharp increases in both home sale and rental prices. This may also reflect a spillover effect, as buyers move to neighboring areas of Gyeonggi-do where the barriers to entry are relatively lower. Improved access to Seoul following the opening of GTX lines and steady demand, particularly from employees in nearby high-tech industries such as information technology (IT), are also cited as factors sustaining the upward trend.

As lending restrictions reduce the amount borrowers can borrow for apartments priced at KRW 1.5 billion or more, localized price increases are expected to continue, supported by solid demand. According to the Ministry of Land, Infrastructure and Transport's real transaction price system, there were 159,825 apartment transactions across Gyeonggi-do over the past year, excluding canceled contracts. Of these, 97.6% were for less than KRW 1.5 billion. The total was up more than 26% from 126,653 transactions a year earlier, while the share of transactions below KRW 1.5 billion rose by 0.9 percentage points.

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