Gyeonggi non‑regulated housing zones see price spikes as Seoul‑area restrictions expand

The South Korean government expanded its housing‑price control zones in the Seoul metropolitan area, adding three districts—Dongtan in Hwaseong, Giheung in Yongin and Guui in Guri—to the speculative‑zone list. The number of regulated sites rose to 40, covering 25 locations in Seoul and 15 in Gyeonggi Province. At the same time, major banks cut mortgage limits for purchases in these zones, with KB Kookmin Bank halving its loan ceiling from ₩600 million to ₩300 million and Shinhan Bank restricting mortgage‑credit‑insurance participation. The tighter financing and higher entry barriers prompted buyers to seek adjacent non‑regulated areas that retain good access to Seoul. Consequently, transaction prices in places such as Namyangju, Bucheon and the newly developed district of Byungjeom in Hwaseong recorded record climbs, with an 84 m² unit in Hwaseong’s “Shin Dongtan Forest” selling for ₩10.5 billion in July, up ₩0.5 billion from the previous month. Developers are responding by promoting large, well‑linked projects like the “e‑pyeonhan‑seang Bucheon Urban Square,” a 1,649‑unit complex near the upcoming GTX‑B line, offering higher loan‑to‑value ratios (up to 70 %) and reduced upfront deposits to attract price‑sensitive buyers.