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Housing prices in Seoul-adjacent Gyeonggi rising despite gov't measures

Published: 25 Dec. 2025, 17:49 Updated: 25 Dec. 2025, 18:27

Apartment buildings are seen in Bundang District, Seongnam, Gyeonggi, on Sept. 29, 2024. [YONHAP]

Despite the government’s high-intensity real estate measures proclaimed on Oct. 15, the demand for apartment buildings in the capital city is spilling over to the bordering region of Gyeonggi, driving up the prices of apartment complexes in the near-Seoul area.

According to market analysts, demand for Gyeonggi apartments continues to grow — despite major parts of Gyeonggi have also been placed under triple regulation as adjustment target areas, speculative overheating zones and land transaction permit zones — as homes there remain relatively affordable compared to Seoul when accounting for the closeness to the metropolitan area.

According to the Korea Real Estate Board’s weekly apartment price trend report for the fourth week of December (based on data as of Dec. 22) the average apartment sale price in Gyeonggi rose 0.12 percent from the previous week, extending its upward trend for a third consecutive week. Areas closer to Seoul posted steeper gains.

Apartments in Suji District, Yongin, rose 0.51 percent over the week, the highest increase in Gyeonggi. This marked the sharpest weekly rise since the first week of February 2021, when prices climbed 0.56 percent, about four years and 10 months earlier. An 84-square-meter (904-square-foot) unit at the e-Pyeonhansesang Suji complex in Pungdeokcheon-dong had traded in the 1.3 billion won ($900,000) range before regulations took effect, but was sold for 1.44 billion won earlier this month. Although Suji is a regulated area, access to Seoul via the Shinbundang Line remains relatively convenient, and apartments priced below 1.5 billion won are eligible for loans of up to 600 million won.

Following Suji, prices also rose sharply in Bundang District, Seongnam, up 0.44 percent, led by major complexes in Yatap-dong and Imae-dong. Hanam climbed 0.42 percent, Dongan District in Anyang rose 0.33 percent, Gwangmyeong gained 0.30 percent and Gwacheon also rose 0.30 percent, all well above the Gyeonggi average and all located near Seoul.

“Many areas in Gyeonggi still have 30-pyeong [1,067.5-square-foot] range apartments priced below 1.5 billion won,” said Nam Hyeok-woo, a real estate research fellow at Woori Bank. “Seoul’s purchase demand appears to be moving into Gyeonggi, where loan conditions are relatively more favorable.”

Being designated as a regulated area is itself viewed by many buyers in Gyeonggi as a sign of a so-called “one solid home,” leading to expectations of further upside, according to Nam.

The most expensive apartment home in Korea, in the foreground, located in southern Seoul's Apgujeong neighborhood, is seen on Dec. 24. [YONHAP]

Some 304 apartments in regulated areas of Gyeonggi recorded new high prices over the past month, from Nov. 21 to Dec. 22, according to real estate platform Ziptoss. This exceeded the 216 cases recorded in nonregulated areas of Gyeonggi, where a balloon effect had been anticipated. By area, Seongnam recorded the most new highs with 117 cases, followed by Hanam with 49, Yongin with 46, Suwon with 41 and Gwangmyeong with 25.

Apartment sale prices in Seoul rose 0.21 percent last week, accelerating from the previous week. After the Oct. 15 measures, weekly gains had held at around 0.17 to 0.18 percent for four consecutive weeks from late last month before edging up to 0.21 percent.

Seongdong District posted the highest increase in Seoul at 0.34 percent, followed by Songpa at 0.33 percent, Dongjak at 0.31 percent and Yongsan and Yangcheon at 0.30 percent. Yeongdeungpo and Gwanak each rose 0.28 percent, all exceeding the city average.

“Transactions remain limited, but prices are rising mainly in large-scale complexes, areas near subway stations and redevelopment candidates,” said the Korea Real Estate Board.

Jeonse (lump sum deposit rent) prices for Seoul apartments rose 0.16 percent from the previous week. However, as available listings continue to shrink, increases were more pronounced in school districts and areas near transit hubs. Seocho recorded a 0.46 percent rise, followed by Gwangjin at 0.33 percent and Gangdong at 0.24 percent, all well above the citywide average.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY BAEK MIN-JEONG [[email protected]]