According to the Ministry of Land, Infrastructure and Transport’s actual transaction price disclosure system, 84 square meters dedicated to’Gwacheon Prugio Summit’ in Jungang-dong, Gwacheon-si, were traded at 1.94 billion won (18th floor) and 1.93 billion won (20th floor) on January 9th. It is the highest price in Gyeonggi-do in terms of 84㎡ dedicated. On the 23rd of the same month, a transaction was made once more at 1.85 billion won (10th floor), but afterwards the price of the sale has been formed between 2 billion and 2.3 billion won depending on the floor, direction, and east. The 59㎡ dedicated to the same complex also recently closed a deal for 1.6 billion won, surpassing the price of an apartment in Seoul.
The Gwacheon Prugio Summit, which rebuilt the Gwacheon Jugong Complex 1, was supplied at the highest price ever in Gwacheon as it turned to post-sale instead of pre-sale. At this time, the price of 84 square meters for exclusive use was 1.2 billion to 1.38 billion won (average 39.98 million won per 3.3 square meters), and the controversy over the high pre-sale price was divided. However, the pre-sale ended successfully, and in March last year, 1571 new apartment units began moving in. Since then, apartment prices have soared in popular areas in the Seoul metropolitan area, and the price of the Gwacheon Prugio Summit, which is in contact with Seocho-gu, Seoul, has also risen to the bottom of 2 billion won.
Raemian Gwacheon Central Suite, which moved in in Byeolyang-dong in 2018, is also pursuing the house price of the Gwacheon Prugio Summit. In January, after writing a contract for an exclusive 84 square meter for 1.8 billion won, a landlord who will sell the same balance for 2 billion won appeared. The 84㎡ dedicated to’Gwacheon Weaverfield’ in Wonmun-dong, which started in January of this year, also recently came out for sale for 1.9~2 billion won.
Statistically, apartment prices in Gwacheon have been on the rise for several months. According to the Korea Real Estate Agency, the sale price of apartments in Gwacheon has increased for 13 consecutive weeks since November 16 last year. The rising width also increased significantly from 0.02% a week to 0.27% on February 8.
Gwacheon is designated as an overheated speculative district and is subject to strengthened lending regulations. Housing mortgage loans (LTV) of over 1.5 billion won are impossible at all. Nevertheless, it is because the location of’Jungangnam’ is the place where Gwacheon apartments are looking at 2 billion won. Seoul is easily accessible, but the population density is low and the living environment is comfortable. In addition, it is analyzed that the house price in Gwacheon area went into’keying’ as a whole, as new apartments that had been rebuilt in some areas moved in.
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