Apartment Transactions in Ilsandong-gu Surge by 35.9%
Deogyang-gu Multi-family and Row Houses Follow with 28.9% Increase
Goyang Special City, Gyeonggi Province (Mayor Lee Dong-hwan) announced on the 17th that real estate transactions in Goyang Special City increased by 13.3% in the second half of 2024 compared to the first half.
After a decline in real estate transactions in the second half of 2023, the upward trend has continued since the first half of 2024.
By property use, residential real estate transactions generally showed a strong increase, while other real estate transactions saw only slight growth.
Residential real estate, including single-family homes, multi-family houses, and apartments, all showed double-digit increases, with apartment transactions showing the highest growth rate, approaching 20%. In contrast, commercial and industrial real estate as well as pure land and forest land increased by less than 5%.
By administrative district, real estate transactions increased by 9.8% in Deogyang-gu and 24.9% in Ilsandong-gu, while Ilsanseo-gu saw a decrease of 8.9%, showing a contrasting trend.
Deogyang-gu maintained an upward trend across all sectors, with multi-family and row house transactions rising sharply by 28.9%. Additionally, commercial and office real estate as well as pure land and forest land were the only sectors among the three districts to show an increasing trend.
Ilsandong-gu had the largest increase in real estate transactions among the three districts compared to the first half. Among residential real estate, apartments showed the highest increase at 35.9%, while multi-family and row houses showed a relative decline. Furthermore, industrial real estate increased the most at 41.4% compared to the first half.
Ilsanseo-gu showed an overall decline in real estate transactions. Transactions of single-family and multi-family houses rose sharply by 32.5%, but apartment transactions were the only ones to decrease, showing a different pattern from other districts. Additionally, industrial real estate transactions fell sharply by 54.3%, contrasting with Ilsandong-gu.
A Goyang city official stated, “As real estate transaction volumes in Goyang city have returned to an upward trend, we will strive to maintain a healthy and transparent real estate market.”
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