Buyers Trade Seoul’s 59-Square-Meter Flats for 84-Square-Meter Homes in Byeollae
Translated from Korean and summarized by DistantNews. Read the original for the full story.
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- Apartment prices in northeastern Seoul are pushing some buyers toward Byeollae New Town in Namyangju, Gyeonggi Province.
- Buyers with budgets of 700 million to 800 million won face fewer choices and smaller apartments in Nowon, Dobong and Gangbuk districts.
- Apartment transactions in Byeollae-dong rose from 61 in January to 140 in July, according to transaction data.
For buyers with 700 million to 800 million won to spend, an 84-square-meter apartment in Namyangju’s Byeollae New Town is becoming more attractive than a smaller home in northeastern Seoul.
Prices have risen in Seoul’s Nowon, Dobong and Gangbuk districts, narrowing both the size and selection available within that budget. Buyers are therefore looking beyond the capital to find more space for the same amount of money.
The shift is visible in transaction figures. Apartment sales in Byeollae-dong increased from 61 in January to 140 in July, a 2.3-fold rise.
Byeollae’s appeal rests on a straightforward calculation: buyers can seek an 84-square-meter apartment there instead of settling for a 59-square-meter unit in Seoul.
About this summary
Originally published by Chosun Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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