Dongtan home prices surge, The Sharp 20billion 5000million transaction·listings 26.7% decline
Apartment prices in Dongtan-gu, Hwaseong-si, Gyeonggi Province, surged, with a unit at The Sharp Central City 97㎡ selling for 20billion 5000million won. Listings have 26.7fallen in a month, and cases of buyers adding a premium to the deposit have emerged.
Apartment transaction prices in Dongtan-gu, Hwaseong-si, Gyeonggi Province, have risen cumulatively by 7.06%, recording the nation's 1th-highest rate of increase. The figure was compiled based on weekly statistics from the Korea Real Estate Board. Dongtan-gu has seen a relatively larger increase than other areas in the Seoul metropolitan region.
Over the past week, transaction prices in Dongtan-gu rose by 1.98%, showing an unusual increase even on a weekly basis. The Korea Real Estate Board classified this weekly rate of increase as an uncommon case. Comparable past cases are limited.
The Ministry of Land, Infrastructure and Transport's actual transaction price disclosure system lists a record showing a dedicated 97㎡ unit at The Sharp Central City traded for 20billion 5000million won. Another listing on a different floor in the same complex, with a dedicated area of 97㎡, was confirmed to have traded for 17billion won. The high-priced transaction was reported at the beginning of this month.
This transaction has been recorded as one of the deals in the Dongtan area that exceeded 20hundred million won. Following the transaction at Lotte Castle near Dongtan Station last 5month, it is the second transaction in the hundreds-of-millions-of-won range recorded in the area. A trend of record-high transactions is continuing.20hundred million won.
According to a real estate big-data tally, apartment listings in Dongtan-gu have declined over the past month from 5,120listings to 3,753listings. The decrease in listings is being felt in the market. A shortage of listings is affecting price increases.
The data and on-site interviews also explicitly indicate changes in contracting practices. One buyer said they paid a deposit of 10% plus part of the interim payment, for a total of 1hundred million won and 3,000ten thousand won. Real estate agents are increasingly taking steps to reduce cases of canceled contracts.
On the ground, demand for proximity to semiconductor clusters and workplaces, known as "bansekwon," overlaps with demand for access to commuter shuttles, known as "syeosekwon." It has also been noted that investment demand is flowing into Dongtan-gu because it has the status of a non-regulated area. The combination of this demand and the decrease in listings is creating record-high transactions and changes in the home-buying and selling landscape.
Sources: 뉴시스 경제
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