Zigbang analysis: top 10 risers all in Greater Seoul area

Bundang up 29.5% in a year; average 112-square-meter unit now 1.89 billion won

Non-Gangnam districts lead Seoul gains, with Gwangjin-gu and Dongjak-gu up more than 20%

Apartment complexes in Bundang-gu, Seongnam, Gyeonggi Province. [The Herald Business DB]
Apartment complexes in Bundang-gu, Seongnam, Gyeonggi Province. [The Herald Business DB]

Bundang-gu in Seongnam, Gyeonggi Province, recorded the steepest apartment price increase in the country over the past year, while non-Gangnam districts including Dongjak-gu, Gwangjin-gu, Seongdong-gu and Seongbuk-gu led gains within Seoul.

According to a Zigbang analysis released Monday comparing apartment market prices nationwide from September 2025 through August this year, the price per 3.3 square meters in Bundang-gu rose 29.5%, the highest rate in the country. The gains were driven by expectations for reconstruction and remodeling projects centered on the Yatap-dong, Seohyeon-dong and Gumi-dong neighborhoods.

The top 10 areas by price increase were all in the greater metropolitan area, with Seoul and Gyeonggi Province accounting for five each. Bundang-gu was followed by Gwangmyeong in Gyeonggi Province at 28.4%, Dongjak-gu in Seoul at 25.3%, Suji-gu in Yongin at 24.8%, Gwangjin-gu in Seoul at 23.8%, Hanam in Gyeonggi Province at 22.8%, Seongdong-gu in Seoul at 22.6%, Seongbuk-gu in Seoul at 22.4%, Dongtan-gu in Hwaseong at 21.4% and Songpa-gu in Seoul at 17.7%.

Looking at the price per 3.3 square meters based on supply area, the figures over the past year moved as follows: Bundang-gu in Seongnam rose from 43.06 million won ($31,700) to 55.74 million won; Gwangmyeong from 27.71 million won to 35.56 million won; Dongjak-gu in Seoul from 42.52 million won to 53.27 million won; Suji-gu in Yongin from 23.22 million won to 28.98 million won; and Gwangjin-gu in Seoul from 48.44 million won to 59.95 million won.

Converted to the price of a 112-square-meter apartment, those figures translate to the following one-year changes: Bundang-gu in Seongnam from about 1.46 billion won to 1.89 billion won; Gwangmyeong from about 940 million won to 1.21 billion won; Dongjak-gu in Seoul from about 1.44 billion won to 1.81 billion won; Suji-gu in Yongin from about 790 million won to 980 million won; and Gwangjin-gu in Seoul from about 1.64 billion won to 2.03 billion won.

Within Seoul, non-Gangnam districts outpaced Gangnam-gu and Seocho-gu in price growth. Gangnam-gu and Seocho-gu, which had risen 22.6% and 19.3% respectively in the prior year, saw their gains slow to 6.8% and 8.0% over the most recent 12 months. By contrast, Seongdong-gu's increase widened from 15.6% to 22.6%, and Dongjak-gu's from 12.7% to 25.3%. Seongbuk-gu and Gwangjin-gu both entered the top 10 nationally for the first time in the latest period.

In Gyeonggi Province, Bundang-gu's rate of increase expanded from 10.6% in the prior year to 29.5% in the most recent year. Gwangmyeong rose sharply from 3.8% to 28.4%. Hanam, Suji in Yongin and Dongtan in Hwaseong also climbed into the top tier, each posting gains of between 21.4% and 24.8% over the past year.

Transaction volumes also diverged by area. Among districts that newly entered the top 10 for price gains, Gwangmyeong saw transactions rise 24.4%, Suji in Yongin 13.6%, Hanam 18.1%, Seongbuk-gu 33.0% and Dongtan in Hwaseong 115.0%. Meanwhile, Gwacheon saw transactions fall 55.9%, Gangnam-gu 28.6% and Seocho-gu 26.9%. Bundang-gu also recorded a 9.7% decline in transaction volume.

Kim Eun-seon, head of Zigbang's big data lab, said the top-performing areas over the past year had shifted away from the Gangnam belt toward non-Gangnam parts of Seoul, new towns and Gyeonggi Province areas with good access to Seoul. Kim added that while areas such as Bundang, Gwangmyeong, Dongjak-gu and Suji in Yongin are also designated as regulated zones, the share of homes priced above 1.5 billion won is lower there than in Gangnam, easing the burden of lending restrictions. She said upgrade-driven demand had flowed into areas combining convenient access to Gangnam with strong lifestyle infrastructure.

For the second half of the year, interest rate and tax policy changes are seen as key market variables. The benchmark interest rate was raised in consecutive moves in July and August, reaching an annual 3.00%, which could weigh on buyers relying on loans. At the same time, rising jeonse and monthly rent prices are sustaining end-user buying demand, which analysts cited as a factor supporting prices in mid- to lower-priced areas.

The survey compared prices per 3.3 square meters at each point in time by matching the same complex and the same unit size among complexes listed on Zigbang, then calculating a weighted average by number of units. The figures may differ from actual transaction prices or prices at which transactions are currently possible.


quq@heraldcorp.com