Dongducheon 'Adjustment Area Balloon Effect'... Apartment Transactions Increase in Non-Regulated Areas Icheon and Yeoju

[Image source=Yonhap News]

[Asia Economy Reporter Ryu Tae-min] At the end of last month, Dongducheon-si was newly designated as a regulated area, causing investment demand to flow into neighboring regions. Transactions appear to be increasing in non-regulated areas remaining in the metropolitan area, such as Gapyeong, Pocheon, and Yeoju.

According to the Ministry of Land, Infrastructure and Transport's real transaction price disclosure system on the 12th, from the effective date of the designation of some neighborhoods in Dongducheon-si as adjustment target areas on the 30th of last month, apartment sales transactions concluded over the following two weeks were recorded as 71 cases in Icheon-si and 54 cases in Yeoju-si. Although these figures are provisional with more than three weeks left for real transaction reporting, the difference is clear compared to only 13 cases in Dongducheon-si during the same period.

Since last year, the government has designated most areas in the metropolitan area as speculative overheated districts or adjustment target areas, leaving only six non-regulated areas: Icheon-si, Yeoju-si, Pocheon-si, Yangpyeong-gun, Yeoncheon-gun, and Gapyeong-gun. In particular, on the 30th of last month, some neighborhoods in Dongducheon-si, where transactions had been active, were also included in the adjustment target areas, causing demand to concentrate in the remaining non-regulated areas.

There were also regional differences in the increase or decrease of listings. According to the Apartment Real Transaction Price App (Asil), in Dongducheon-si, listings increased from 336 on the 30th of last month to 394 as of this date, a rise of 58 cases (17.2%), indicating an accumulation of listings. In contrast, Gapyeong-gun, a non-regulated area, saw a decrease from 234 to 202 cases (-13.7%) during the same period, followed by Yeoju-si with 243 to 210 cases (-13.6%) and Pocheon-si with 102 to 94 cases (-7.9%).

In fact, in areas such as Gapyeong and Pocheon, where listings decreased, record-high price transactions have been occurring consecutively since the announcement of additional regulated areas. On the 4th, a 127㎡ (exclusive area) unit in ‘Gyeongnam Honorsville’ in Cheongpyeong-myeon, Gapyeong, changed hands for 325 million KRW, which is 15 million KRW higher than the previous highest price of 310 million KRW.

In Pocheon-si, a 51㎡ unit in ‘Taebong Village’ in Soheul-eup was traded for 210 million KRW, 10 million KRW higher than the previous transaction price of 200 million KRW.

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