Dongan-gu leads nation in first-time buyers in July
Pre-sale unit in Pyeongchon sets record at 1.73 billion won
Experts say expanding transit networks key to real housing stability
More than 90 percent of customers looking for units with an exclusive use area of 59 square meters are first-time buyers. Some have told me they'd rather come here than settle for somewhere on the outskirts of Seoul.
— Head of real estate agency A in Hogye-dong, Dongan-gu, Anyang
Dongan-gu in Anyang, Gyeonggi Province — which encompasses the Pyeongchon new town — recorded the highest number of first-time property buyers of any district or county in the country last month, according to new data. As both home sale prices and jeonse deposits in Seoul have risen simultaneously, demand that had been pushed toward the capital's outer edges is now spreading into well-connected new towns with clusters of newly built apartments. The number of people who purchased their first home in Dongan-gu last month exceeded the combined total from the three Seoul districts of Nowon-gu, Dobong-gu and Gangbuk-gu.
According to the Supreme Court Registry Information Plaza, Dongan-gu recorded 1,227 first-time buyers in July, the most of any city district or county nationwide. Gwangju in Gyeonggi Province came second with 1,037, followed by Paju with 990. Those figures far outpaced the Seoul districts that have traditionally drawn young buyers with relatively affordable prices — Nowon-gu with 616, Dobong-gu with 243 and Gangbuk-gu with 181.
Real estate agents near the Pyeongchon Irvine First complex — the most actively traded in Dongan-gu — said Tuesday they were feeling the surge firsthand. "The mood these days is 'new construction, no matter what,'" said the head of real estate agency B in Hogye-dong. "There aren't many places in Seoul worth buying into, so newlyweds are flooding in here."
Dongan-gu borders Seoul's Gwanak-gu to the north. Subway Line 4 connects Beomgye Station in the district to Sadang Station in Seoul's Dongjak-gu in 21 minutes, offering solid access to Gangnam. Construction is also underway on the Wolgot-Pangyo and Indong lines. "It's convenient for commuters working in Bundang or Gwacheon too," said the head of agency A. "The price is reasonable and the transit upside is clear — that's why people are moving in."
Another agent echoed the sentiment. "It's close to the subway and the school districts are good, so a lot of young people are looking here," the agent said. "We get 10 inquiries a day but there's nothing left to sell."
Dongan-gu was added to the list of regulated real estate zones under the Oct. 15 measures last year, significantly capping loan limits. For an apartment priced at 1.2 billion won ($848,000), the loan-to-value ratio ceiling of 40 percent limits mortgage borrowing to a maximum of 480 million won. First-time buyers, however, can borrow up to 600 million won.
"Buyers expect prices to jump past 1.5 billion won," said the head of agency C in Hogye-dong. "When you weigh all the factors — lifestyle amenities and the rest — people seem to feel Dongan-gu is relatively undervalued." A nearby agent added that some buyers had rushed in after watching prices climb sharply. "One engaged couple came in to buy a place even though they haven't set a wedding or moving date yet," the agent said.
Prices have climbed alongside the surge in demand. The cumulative increase in apartment sale prices in Dongan-gu this year stood at 11.84 percent as of Aug. 3, according to the Korea Real Estate Board. The 84-square-meter unit at Pyeongchon Centum First — the district's flagship complex — changed hands on July 29 at a record 1.64 billion won for a unit on the 28th floor, up more than 300 million won from a transaction in August 2025, when a fifth-floor unit sold for 1.33 billion won. A pre-sale right for an 84-square-meter unit at the still-under-construction Pyeongchon Xi Prestiny also set a new high on Thursday, trading at 1.73 billion won.
"When sale prices hit a record, landlords raise rents too," said the head of agency D in Hogye-dong. "In the first half of the year, jeonse deposits for the 59- and 84-square-meter units at Pyeongchon Centum First rose by about 40 million to 50 million won."
Experts say the trend underscores the need for carefully targeted housing supply that accounts for residential environment and transit infrastructure, rather than simply building more units indiscriminately.
"If buyers choose a villa or an older apartment on the outskirts, they can stay within Seoul for the same price — but when new construction matters more, they expand their search to areas in the greater metropolitan area with solid amenities," said Yoon Ji-hae, head of the research lab at Real Estate 114. "Dongan-gu seems to offer better value for money compared with Gwacheon, Seongnam or Gwanggyo."
Kim Jin-yu, a professor of urban transportation engineering at Kyonggi University, said many new towns had failed to benefit from metropolitan transit networks because subway lines opened later than residents moved in. "If we expand transit-oriented areas by extending lines such as the GTX-C, demand will spread across the greater metropolitan area and contribute to genuine housing stability," Kim said.
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