Real Estate AtoZ

On April 3, despite it being a weekday afternoon, the model house for "Pungmu Station Area Sujain Gracent Phase 2," which opened near Pungmu Station in Gimpo, Gyeonggi Province, was bustling with visitors. In front of the model house, which was adorned with large banners reading "Subway Line 5 Gimpo-Geomdan Preliminary Feasibility Study Passed" and "Safe Walking Distance to School?Sau Elementary, Sau High, and Gimpo's Largest Academy District Right in Front," long lines of people waited even before the opening time. Mr. Han (39), an office worker living in Gangseo-gu, Seoul, commented, "The house prices in Magok-dong have risen too much, so I came all the way to Gimpo to have a look," and added, "If Line 5 extends to Pungmu Station, it will be convenient to commute to Seoul." Interest in the Phase 2 complex has grown following the complete sell-out of Phase 1 in November last year, as well as the recent approval of the Seoul Subway Line 5 extension to Gimpo and Geomdan in the prelimina

"In this area, you can get a mortgage loan up to the maximum limit of 600 million won, so it's definitely a place where you can afford to buy your own home. There are so many inquiries asking to be notified as soon as a property becomes available that prices are rising," said a real estate agent in Donam-dong, Seongbuk-gu. As the buying trend for apartments in Seoul shifts toward the outskirts, prices are being pushed up. With limited supply and concentrated demand, homeowners are raising prices. The demand for jeonse (long-term lease) remains steady, but with few listings available, jeonse prices are also rising. As a result, more people are opting to purchase homes instead, according to industry insiders. According to the Korea Real Estate Board on April 2, as of the fifth week of March (based on data from the 30th), the average apartment sale price in Seoul rose by 0.12% compared to the previous week. The increase in prices was especially notable for mid-to-low-priced apartments in

BS Hanyang announced on April 2 that it will open the model home for "Pungmu Station Area Sujain Gracent Phase 2," which is being developed on Block B1 of the Pungmu Station Area Urban Development Project in Gimpo-si, Gyeonggi-do, on April 3, marking the official start of sales. Pungmu Station Area Sujain Gracent Phase 2 will be located in Sau-dong, Gimpo-si, consisting of seven buildings with a total of 639 units, ranging from two basement levels to 28 above-ground floors (509 units of 84 square meters and 130 units of 105 square meters). As a non-regulated area adjacent to Seoul, where the presale price cap system applies, the price burden is relatively low. The presale price for the 84-square-meter units is set at around the mid-600 million won to low-700 million won range, similar to the first phase. The 105-square-meter units will be offered in the mid-700 million won to low-800 million won range. Pungmu Station Area Sujain Gracent Phase 2 is a station-area complex adjacent to Sa

"There is a large complex with over 2,600 households right next door, but there are only two jeonse listings currently available. If multi-home owners put more properties on the market for sale, the supply of jeonse units will decrease further, and that will drive up prices." (Broker A in Sanggye-dong, Nowon-gu) The government's decision to prohibit extensions of mortgage loan maturities for apartments owned by multi-home owners and rental business operators in the Seoul metropolitan area and other regulated zones is drawing attention to its impact on the rental market. If a tenant is currently occupying a unit, an exception to the regulation applies until the end of the lease contract. However, if the landlord decides to sell, tenants will have to vacate without extending their lease, raising concerns about increased housing insecurity. As jeonse supply decreases while demand remains steady, housing costs are expected to rise. On April 1, the government announced that, starting April

The court auction winning bid rate for Seoul apartments has fallen below 100% again after six months. The auction market is experiencing a slowdown due to a weakened buying trend, particularly for ultra-high-priced apartments, coupled with an increase in listings from multiple-home owners and concerns about the burden of property taxes. According to JiJi Auction, a company specializing in auction data, the winning bid rate for Seoul apartment auctions last month was recorded at 99.3%. The winning bid rate is an indicator that compares the actual auction price to the appraised value. If the rate is higher than 100%, it means the property was sold above the appraised value; if it is below 100%, it was sold for less than the appraised value. The winning bid rate for Seoul apartments was 99.5% in September last year, but it rose to 102.3% in October and remained above 100% for five consecutive months until February of this year. However, after peaking at 107.8% in January this year, the ra

Although the Lee Jaemyung administration is accelerating public-led housing supply, experts have diagnosed that the government's supply targets will be difficult to achieve unless the private sector, which accounts for over 90% of total supply, is revitalized. During the "Policy Directions for Activating Housing Supply" discussion held at the National Assembly Members' Office Building on the 31st, there was general consensus on the need to expand public housing supply, but a series of comments pointed out that it is difficult to meet the quantity target through public supply alone. The discussion was co-hosted by Assembly members Bok Giwang, Kwon Youngjin, Yeom Taeyoung, and An Taejun from the National Assembly's Land, Infrastructure and Transport Committee, and co-organized by the Korea Housing Association, Korea Housing Builders Association, and Korea REITs Association. Kim Jeongseop, a professor at Ulsan National Institute of Science and Technology (UNIST), stated, "Over 90% of Seou

"There are no monthly or lease listings available, so I simply can't move at all." The shortage of apartment lease listings on the outskirts of Seoul is spreading to Gyeonggi Province, causing lease prices to jump by hundreds of millions of won. According to the real estate brokerage industry on March 27, the lease price for a 59㎡ unit at Gwangmyeong E-Pyeonhansesang Centreville in Haan-dong, Gwangmyeong City, recently increased from 560 million?570 million won to 600 million won. The lease price for an 84㎡ unit also jumped from the mid-600 million won range to 700 million won. A representative at a nearby brokerage office said, "There is demand coming in from the southwestern districts of Seoul such as Yangcheon, Guro, and Gangseo, but there are no listings available." Another broker added, "As the supply of new units has been exhausted, the number of listings has dropped, causing prices to rise by tens of millions of won." According to weekly apartment price trends for the fourth we

The increase in apartment sales prices in Seoul has widened for the first time in eight weeks. However, this rise was primarily driven by mid- to low-priced areas such as Nowon and Guro Districts, while Gangnam District saw the largest decline so far this year. According to weekly apartment price trends for the fourth week of March (as of the 23rd) released by the Korea Real Estate Board on March 26, apartment sales prices in Seoul rose by 0.06% compared to the previous week. The increase rate last week was 0.05%. After peaking at 0.31% in the fourth week of January this year, the rate of increase had slowed for seven consecutive weeks before picking up slightly this week. Mid- to low-priced areas in the northeastern (Gangbuk) and southwestern (Seonam) regions lifted the overall figure for Seoul. Nowon District posted the largest increase among all Seoul districts, rising 0.23%, mainly due to small and mid-sized apartments in Sanggye-dong and Junggye-dong. Guro District (from 0.14% to

Korea’s leading construction project management (PM) company HanmiGlobal will support the architect selection process for the Olympic Media Village Apartment, the largest redevelopment project in Songpa-gu, Seoul. This project involves constructing a large-scale apartment complex with 9,218 units in the Bangi-dong area and is considered a flagship mega-redevelopment project in southeastern Seoul. On March 24, HanmiGlobal announced that it has been awarded the PM contract to support the architect selection process for the Olympic Media Village Apartment redevelopment project. Currently, the project is at the “association establishment promotion committee” stage. This is the preparatory phase in which homeowners gather to form an official organization to carry out the redevelopment. It has been reported that over 70% of homeowners or landowners, as required by law, have already given their consent. The promotion committee plans to establish the official association in the second half of

Seoul has achieved its highest-ever ranking, placing third among the most preferred cities for commercial real estate investment in the Asia-Pacific region. Analysts attribute this to the diversification of investment assets, with global capital flowing in as the market expands beyond its traditional office-centric focus to include data centers and logistics facilities. According to the “2026 Korea Investor Intentions Survey Report” released on March 21 by global real estate services firm CBRE?which surveyed 422 investors across the Asia-Pacific region, including 77 Korean investors?Seoul ranked third this year in the Asia-Pacific investment preference ranking, following Tokyo and Sydney. Seoul shares the third spot with Singapore. This represents a jump of five spots from last year’s eighth place, marking its best ranking since the survey began in 2020. CBRE identified diversification of investment asset classes as the key driver behind Seoul’s rise. The market, which was previously