"Standard 84 sqm Sells for 1.74 Billion: Why Suji, Yongin Home Prices Are Rising as Gangnam Falls [Real Estate AtoZ]"

Outpacing Seoul's Price Growth

Record-High Prices Driven by Real Demand

"Cautious Outlook on Continued Uptrend"

Seoul Apartment Complex. Photo by Yonhap News

While apartment prices in Seoul’s Gangnam 3 Districts (Gangnam, Seocho, Songpa) and Yongsan-gu have turned downward, Yongin Suji-gu in Gyeonggi Province continues to see an upward trend. Since the end of last year, it has ranked first in the rate of increase among basic local governments in the greater Seoul area. According to local real estate agents, an 84-square-meter unit at Seongbok Station Lotte Castle Gold Town recently set a new record high, trading at 1.74 billion won.

Soaring Home Prices in Yongin Suji

According to Korea Real Estate Board data as of March 8, the weekly apartment sale price growth rate in Yongin Suji was 0.44%, the highest in both Seoul and Gyeonggi Province. This contrasts with the fact that apartment prices in the Gangnam 3 Districts, Yongsan-gu, and Gwacheon-si in Gyeonggi have declined for two consecutive weeks. So far this year, the cumulative apartment price increase rate in Yongin Suji has reached 5.19%. If this pace continues through the end of the year, prices will have risen by about 30% in just one year.

The rise in Yongin Suji home prices is largely attributed to a surge in alternative demand, as strong lending restrictions have made it difficult to trade apartments in Seoul. Its convenient access to Gangnam and perceived affordability among genuine buyers have also made it an increasingly attractive area.

Additionally, SK Hynix employees based in Icheon, Gyeonggi, and workers in the IT industry in Pangyo have recently started flocking to the area. A nearby real estate agent noted, "We are seeing increased sales inquiries from SK Hynix and Pangyo office workers. Compared to Bundang, there are more newly built apartments here, and the area offers good transportation and school districts, which is drawing in younger buyers."

Actual transaction prices have also been steadily rising. On February 23, an 84-square-meter unit at Seongbok Station Lotte Castle Gold Town was sold for 1.71 billion won, meaning the price rose by about 30 million won in just two weeks. This is a noticeable trend, especially considering that price increases in Seoul’s core areas have slowed or even reversed since last month. The same unit type in this apartment complex was traded for 1.49 billion won on December 2025.

"Need to Watch for Continued Upward Trend"

However, experts caution that it remains to be seen whether the current upward trend will persist. In the Gyeonggi region, home prices in areas like Gwacheon and Bundang have typically set the pace for places like Yongin Suji, but adjustment in Gwacheon is now becoming a reality. Gwacheon apartment prices fell by 0.05% last year, marking three consecutive weeks of declines.

Nam Hyukwoo, a researcher at Woori Bank’s Real Estate Research Institute, said, "There is steady demand from genuine buyers as many apartments are priced under 1.5 billion won," but he added, "There are complexes where the number of listings with adjusted prices is meaningfully increasing, which could slow the upward trend."

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