The semiconductor industry's positive outlook is shaking up the real estate market, with the so-called "proximity effect" manifesting differently across regions. In the metropolitan area, soaring housing prices in Dongtan, Gyeonggi Province, are spilling over into the nearby Byeongjeom area, while in Honam, expectations for large-scale semiconductor investments are driving real estate inquiries and prices upward.
According to data from the Court Registration Information Plaza, the number of first-time homebuyers in Byeongjeom surged from 140 in April to 696 in May, marking a 397.1% increase. In the same period, first-time buyers in Dongtan rose from 721 to 1,310, an 81.7% increase.
The ratio of maximum bond amounts used for loans also showed a greater increase in Byeongjeom. In May, the ratio for transactions in Dongtan was 68.45%, up 7.64 percentage points from the previous month. Byeongjeom saw a jump from 62.62% to 73.15%, a rise of 10.53 percentage points, contrasting with a statewide increase of just 1.59 percentage points. The maximum bond amount refers to the highest amount set for a mortgage, typically higher than the actual loan amount.
As housing prices in Dongtan skyrocketed, homebuyers with no property are moving to the relatively affordable Byeongjeom area. This shift has likely increased demand for home purchases using policy loans and mortgages. Byeongjeom's status as a non-regulated area also raises the potential for future demand shifts.
Dongtan has recorded one of the highest price increases in the country this year, fueled by the effects of the GTX-A line and the proximity to major semiconductor campuses operated by Samsung Electronics in Hwaseong, Giheung, and Pyeongtaek, as well as the Yongin Semiconductor Cluster. On June 30, the government designated Hwaseong Dongtan, Yongin Giheung, and Guri as adjustment areas and speculative overheated zones, also placing them under land transaction permission regulations.
Market analysts believe that demand may shift to nearby areas like Byeongjeom following the regulations in Dongtan. The data from May already indicates a rise in first-time buyers and increased leverage in Byeongjeom, suggesting that pent-up demand could move to more accessible, non-regulated regions.
While Byeongjeom reflects the spillover from Dongtan's housing market, Honam is witnessing early signs of real estate activity driven by expectations of new semiconductor investments.
Recently, there has been growing interest in attracting semiconductor production facilities, particularly in the southwestern region, including Jeonnam and Gwangju. Areas such as the former Gwangju military airport site, Gwangju Techno Valley 3, and Haenam Solasido in Jeonnam are being highlighted as potential beneficiaries.
A representative from a real estate agency near Gwangju Techno Valley 3 stated, "Although it may be premature as candidate sites have not yet been narrowed down, landowners are already quickly pulling properties off the market. Even if factories do not directly establish here, the area will inevitably be affected, prompting a mood of caution among sellers to withdraw listings and observe developments."
Similarly, Haenam, which Samsung Electronics has mentioned in its plans for a large-scale national AI data center, is experiencing a similar atmosphere. A real estate agent near Haenam Solasido noted, "With discussions of a 17 trillion won investment, rumors of follow-up investments are already circulating. Since this week, inquiries from outsiders looking to confirm available land for purchase have been increasing."
Industry experts believe that semiconductor facilities will not only drive residential demand but also enhance commercial areas and transportation networks, potentially leading to long-term impacts on surrounding real estate markets. Lee Eun-hyung, a researcher at the Korea Construction Policy Institute, remarked, "There could be a balloon effect in adjacent areas subject to land transaction regulations. If financially capable homebuyers are moving, achieving the intended policy goals may not be easy. Additionally, if semiconductor investments in the southwestern region reflect future value, prices may fluctuate accordingly."
* This article has been translated by AI.
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