Guri Designated as Regulated Area Alongside Dongtan and Giheung; Namyangju Market Already Heating Up

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Guri has recently been designated as an additional regulated area, joining Hwaseong's Dongtan and Yongin's Giheung. Concerns are already emerging about a potential "balloon effect," as buying inquiries shift toward neighboring regions.

Reporter Baegun has the story.

[Reporter]

An apartment complex with 600 households in Guri, Gyeonggi Province.

A 59-square-meter unit, which traded for 1.04 billion won in February of this year, rose by 55 million won within two months. The upward trend accelerated, reaching 1.22 billion won late last month.

Due to its proximity to Seoul, which ensures solid demand from actual residents, and its status as a non-regulated area that attracted investment demand, apartment prices in Guri have risen by 8.2% this year alone.

However, buying inquiries have noticeably decreased following the designation as a regulated area.

[Interview: Jo Won-guk / Real Estate Agent in Guri, Gyeonggi Province: There are almost no investment inquiries. People who want to move in are mainly asking about how much of a loan they can receive.]

On the other hand, the atmosphere in the nearby Dasan New Town in Namyangju is different.

An 84-square-meter property listed for 1.15 billion won on June 29 saw its asking price jump by 150 million won to 1.3 billion won just one day later, when the government announced the additional regulated areas.

Expectations that investment demand previously headed for Guri will shift to Namyangju, combined with steady demand from actual residents, are driving up asking prices.

[Interview: Seo Mi-ra / Real Estate Agent in Namyangju, Gyeonggi Province: More people are holding back on properties that already have tenants. They have decided that they do not need to sell in a hurry.]

Similar phenomena are appearing in Byeongjeom-gu, Hwaseong, which is adjacent to Dongtan, and Manan-gu, Anyang, near existing regulated areas.

However, analysts suggest that this is merely an increase in asking prices and that a wait-and-see approach will likely continue for the time being as trading volume decreases due to various remaining market variables.

[Interview: Park Won-gap / Senior Real Estate Specialist at KB Kookmin Bank: Most core areas are already tied up as regulated regions, so the balloon effect is expected to be limited. Given the possibility of a base interest rate hike in the second half of the year, it would be wise to approach the market with caution.]

The market's primary focus is now on the real estate tax reform plan scheduled to be announced at the end of this month.

In its Korea Economic Survey released yesterday (July 2), the Organization for Economic Cooperation and Development (OECD) analyzed that "a revenue-neutral shift from transaction taxes to holding taxes would contribute to a more efficient housing market."

Reported by Baegun | Video by Kim Jun-hee | Graphics by Park Tae-young | VJ by Jeong Han-wook
※ Please note: This article was translated by AI and may contain errors.