Gyeonggi Province, South Korea — Bundang-gu in Seongnam, Gyeonggi Province, has recorded the highest apartment price appreciation rate among all cities, counties, and districts nationwide over the past year. Amidst this trend, outsiders from outside Bundang-gu now account for more than half of all apartment purchases, with a noticeable surge in buyers from the so-called "Semiconductor Belt"—including Dongtan, Hwaseong, Giheung, and Yeongtong.

Buying momentum centered around the southern Gyeonggi region, densely populated with semiconductor enterprises, is expanding to other areas such as Bundang, Suji, Sujeong, and Pyeongchon-dong. With Samsung Electronics' internal housing loan program underway and performance bonuses slated for next year, experts suggest that the expanded purchasing power of corporate employees could fuel additional buying demand.

According to the Korea Real Estate Board's weekly apartment price trends on the 16th, apartment prices in Bundang-gu surged by 23.84% between October 13 of last year and October 12 of this year. This marks the highest appreciation rate among 174 municipal districts nationwide over the same period.

Analysts attribute this strong housing market in Bundang to the influx of buyers from semiconductor residential areas and other outside regions.

An analysis of ownership transfer registration (purchase) applicant data from the Court Registry Information Plaza showed that out of 9,385 collective building buyers in Bundang-gu from January to September of this year, 4,708—or 50.17%—were residents living outside Bundang-gu.

Compared to the same period last year, when outside buyers totaled 4,371 (46.72%), the number of buyers increased by 7.7% and their proportion rose by 3.44 percentage points. The monthly average of outside buyers, which stood at 486 last year, has steadily climbed this year to 653 in July, 754 in August, and 787 in September.

Particularly striking is the increase in purchases by residents of Hwaseong, Giheung, and Yeongtong, which fall within the semiconductor industrial sphere. From January to September of this year, collective building purchases in Bundang by residents of these three areas reached 991, a 27.1% increase from 780 during the same period last year.

Their share of total Bundang buyers also increased by 2.22 percentage points, from 8.34% to 10.56%. This means roughly 1 out of every 10 collective building buyers in Bundang is a resident of these three regions.

By region, Hwaseong saw the largest increase, surging 39.0% from 267 to 371 buyers. Yeongtong followed with a 21.9% increase (from 260 to 317), and Giheung rose 19.8% (from 253 to 303).

Buying momentum from the semiconductor zones is also spilling over into other preferred Gyeonggi locations such as Suji, Sujeong, and Pyeongchon-dong. Over the same period, collective building purchases in Suji-gu by local residents rose 29.7% from 1,193 to 1,547. Sujeong-gu saw a 41.6% increase (from 113 to 160), while Pyeongchon-dong in Anyang rose 38.9% (from 54 to 75).

House prices are soaring sharply in areas infused with this "semiconductor money." Over the past year, apartment prices in Suji-gu and Sujeong-gu rose 20.56% and 13.56%, respectively. Dongan-gu, which includes Pyeongchon-dong, recorded a 19.89% increase—far surpassing the overall Gyeonggi provincial average of 7.01%.

Moreover, Samsung Electronics' internal housing loans and upcoming performance bonuses next year are expanding employees' financial capacity, raising the possibility of further stimulating buyer demand.

Since September, Samsung Electronics has been providing homeless employees with housing purchase loans of up to 500 million won at an annual interest rate of 1.5%. Furthermore, special management performance bonuses for the DS (Device Solutions) division are scheduled to be paid in company stock between late March and early April next year, with one-third of the payout eligible for immediate liquidation.

Experts believe that as the financial capacity of high-income employees grows, buying demand could stretch beyond workplace vicinities to other preferred residential districts.

"With a high concentration of high-earners, paired with corporate subsidies and strong individual incomes, their borrowing capacity is substantial," said Yoon Ji-hae, a real estate commentator. "Given their high income levels, their accumulated personal capital is also considerable."

"It is difficult to expect this demand to stay confined to Dongtan," Yoon projected. "With connections linked to the Shinbundang Line and GTX transit networks, the ripple effects could eventually reach areas like Wirye or Gangdong."

[ⓒ Global Economic Times. 무단전재-재배포 금지]