Gyeonggi-do's mood splits by price tier

The expert said the mood on the ground differs clearly by price tier. Promising complexes under ₩1 billion, especially around ₩500 million, are seeing listings disappear in real time and buyers pile in, pushing prices up. You can see this trend firsthand in the field.

Earlier this year, a 24-pyeong large complex near a subway station could be bought in the ₩400 million range, but he explained that finding the same location now means going down to the 10-pyeong range.

The remaining candidates he named were Jungdong New Town in Bucheon, Sanbon New Town in Gunpo, and Gwonseon-gu in Suwon. Moving to areas below these makes the commute awkward.

His standard is that owners of 30-pyeong homes need to step down to the 20-pyeong range, and 20-pyeong owners to around 17 to 18 pyeong. Large units are hard to sell, and in some complexes 40- to 50-pyeong homes trade for less than 30-pyeong ones. He also pointed to analysis that in an era of 10 million+ households, small and mid-sized units are strong.

The host explained that even if they can't show every case, they would lay out with examples how to approach these areas. The aim was to sort out the price range possible for each amount of your own money.

With ₩100 million of your own money and loans, you can buy from the ₩300 million range up to the late ₩500 million range. With ₩200 million, look from the ₩500 million to ₩700 million range; with ₩300 million, from ₩700 million to ₩900 million.

Earlier this year, with ₩100 million of your own money and a 70% first-time buyer loan, a 24-pyeong large complex near a subway station in the ₩400 million range was within reach. Now, even within Gyeonggi-do, wanting a large complex near a subway station means going down to the 10-pyeong range.

He said that if you miss this window and give up on renting to try to buy a home, conditions may not line up and it could effectively become difficult. He judged that if the commute to Seoul exceeds two to three hours, it is realistically impossible.

A one-way commute of about one hour to one and a half hours, he said, can be managed by sleeping on the bus.

Both spouses must be non-homeowners who have never bought a home before.

Checking the loan products and benefits that fit your own situation is most important.

He summarized that what matters most is how you divide between asset appreciation and convenience of living there. As an example, he gave a standard of splitting the two evenly.

Even in Deogyang-gu, he recommended looking only up to the area in front of the Changneung New Town line, since going beyond it is hard. He said most places in southern Gyeonggi are already tied up, and what remains is Jungdong New Town in Bucheon, Sanbon New Town in Gunpo, and Gwonseon-gu in Suwon.

If the holding tax burden grows, owners keep questioning the value of holding and listings may appear. At a point when the number of households falls, no one buys, and vacancies or situations where you cannot recover your money may arise, he warned.

The reason, he said, is differences in school districts and development catalysts.

He added that you need to know whether an expert's words are wrong or right in order to set your own standard and move forward. He warned that although redevelopment talk is everywhere, the right to occupy is often meaningless.

The host asked whether people holding homes that have risen less should move even now. He answered that he agrees with moving now, even though the timing is late.

He cited a case where a client with a Nowon-gu home, which had only been held for a month or two, couldn't move and waited, and in the second half of the year Nowon-gu rose, letting them capture the gain. He said the best upgrade is one where you first grasp buyer demand and the price trend, then capture the appreciation, even for a home that hasn't warmed up yet.

He stressed that if this kind of mood won't come again, you must move no matter what.

He pointed out that the government often says it wants to curb demand because supply is hard to deliver. Even so, he said, people who buy a home before their jeonse lease expires or move to a home with value will ultimately come out ahead.