Apartment transactions surge in Dongtan and Pyeongtaek new towns, while Seoul jeonse listings plunge
Apartment sales transactions have risen sharply in Dongtan New Town and Pyeongtaek's Godeok New Town. In Dongtan, this year's 1quarterly sales volume was 2,283, up 112% year over year. Jeonse listings across the Seoul metropolitan area, including Seoul, are dwindling rapidly.
Apartment transactions are increasing in Dongtan New Town and Pyeongtaek's Godeok New Town. According to Real Estate R114 data, Dongtan New Town's sales volume in the 1 quarter of this year was 2,283, up 112% year over year. Dongtan New Town is classified as an area with a concentration of semiconductor-related campuses and infrastructure.
Transaction volume in Pyeongtaek's Godeok New Town was 251, an increase of 59% year over year. Godeok New Town is home to Samsung Electronics' Pyeongtaek Campus, and construction of a 4 factory is being pursued following the 5 factory. These new towns are considered residential areas serving semiconductor production hubs.
This increase in transactions exceeds the overall growth rate for Gyeonggi Province. The increase in sales transactions across Gyeonggi was 33%. Industry observers say demand is continuing as the expansion of semiconductor industry infrastructure coincides with instability in the metropolitan area's jeonse market.
Jeonse listings in the Seoul metropolitan area are declining rapidly. According to data from Asil, 5as of the second week of the month, the number of apartment jeonse listings in Seoul 26,287fell from 16,348. The decline in jeonse listings is being seen across the Seoul metropolitan area.
Jeonse listings also fell sharply in Incheon and Gyeonggi Province. In Incheon, the number of jeonse listings fell by 49.2 percent, while in Gyeonggi Province it fell by 52.9 percent. The decline in jeonse listings is affecting residential moves and home-buying demand.
Purchases of apartments in Gyeonggi Province by Seoul residents are also increasing. According to data from the Korea Real Estate Board, the number of apartment purchases in Gyeonggi Province by Seoul residents last year totaled 22,116. This was an increase from 2022, when the figure was 9,170.
Sources: 뉴시스 경제
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