Gyeonggi-do Jeonse Prices Highest in Bundang, Not Gwacheon... "Increase in High-Income Workers"

Average Jeonse Price per 3.3㎡ in Bundang 26.47 Million KRW... 38% Increase from One Year Ago

[Asia Economy Reporter Onyu Lim] Bundang-gu in Seongnam City has surpassed Gwacheon to become the area with the highest average jeonse price in Gyeonggi Province.

According to an analysis of KB Real Estate's housing price trends by the real estate information provider Economy Man Lab on the 25th, the average jeonse price per 3.3㎡ of apartments in Bundang-gu last month was 26,476,000 KRW. This is an increase of 7,302,000 KRW (38.1%) compared to March last year. On the other hand, the average jeonse price per 3.3㎡ of apartments in Gwacheon City last month was 26,362,000 KRW, down 523,000 KRW (1.9%) from a year ago.

As a result, Gwacheon City has lost its position as the number one in jeonse prices in Gyeonggi Province for the first time in 4 years and 10 months.

Researcher Hansol Hwang of Economy Man Lab explained, "Seongnam Bundang-gu's excellent accessibility to Gangnam and the increase of high-income IT workers centered around Pangyo are interpreted as reasons for the soaring jeonse prices."

In Yatap-dong, Jangmi Village (Dongbu) 84.99㎡ (exclusive area) was leased for 470 million KRW (5th floor) on March 21 last year, but on March 12 this year, it surged by 310 million KRW (66.0%) to 780 million KRW in one year.

In Unjung-dong, Sanun Village Complex 4 (Geonyeong Cassville) 84.85㎡ was leased for 560 million KRW (2nd floor) on March 30 last year, but on March 29 this year, it was traded for 800 million KRW (2nd floor), rising by 240 million KRW in one year.

In Sunae-dong, Yangji Village (Complex 5) 84.9㎡ was leased for 630 million KRW (14th floor) on March 26 last year, and last month, a lease contract was signed for 850 million KRW (16th floor).

On the other hand, in Gwacheon, jeonse prices soared in recent years due to relocation demand for apartment subscription, but this year, the jeonse market is stabilizing due to a surge in move-in volume.

In Wonmun-dong, Raemian Sure 116.99㎡ was leased for 950 million KRW (20th floor) on March 21 last year, but on March 10 this year, it dropped by 57.5 million KRW to 892.5 million KRW (16th floor) in one year.

Researcher Hwang said, "In Gwacheon, subscription demand targeting apartments in the Knowledge Information Town has decreased, and the increase in move-in volume is causing jeonse prices to adjust. On the other hand, Bundang's accessibility to Gangnam has improved with the opening of the Shinbundang Line, and recently, a high-income residential layer has formed mainly around Bundang Pangyo, leading to rising jeonse prices."

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