Gwangju apartment sales prices turn upward after news of semiconductor factory

It was found that apartment sales prices in the Gwangju area, which had been on a downward trend this year, turned to an upward trend following the news of Jeonnam Gwangju Consolidation and the establishment of a semiconductor factory.

According to the Korea Real Estate Agency and the local real estate industry on the 27th, compared to the previous month in Gwangju, apartment sales prices fell by 0.06% in February, 0.14% in March, 0.28% in April, 0.61% in May, and 0.36% in June.

However, it turned into an upward trend of 0.07% in July, and the increase increased to 0.23% in August.

In particular, the increase in Seo-gu (0.43% in July, 0.31% in August) and Gwangsan-gu (0.19% in July, 0.42% in August) was relatively large.

It was analyzed that this is closely related to Jeonnam Gwangju Integration, SK Hynix, and Samsung Electronics' plan to establish a semiconductor factory at Gwangju-gun Airport (Gwangsan-gu).

Accordingly, it is known that the asking price for apartments in the Gwangju area is also increasing.

A real estate agent in the Sangmu district of Seo-gu, Gwangju said, “Since last month, the asking price for apartments has been rising by at least several million won,” adding, “Not all listings lead to contracts, but the real estate market has improved compared to the first half of the year.”

However, some say that the duration and extent of the upward trend should be watched further due to the increase in lending interest rates in the financial sector and the remaining regional economic recession.

An official from a construction company in the Gwangju area said, "As a result of the subscription for Champions City, which received attention recently, the fact that many types (flat) were underpaid is proof that the real estate market is worse than 4 to 5 years ago." He added, "Once construction of the semiconductor factory begins and manpower flows into Gwangju, the market will pick up steam."