This means that an 84-square-meter home would cost 1.66 billion won in Gangnam-gu and 1.6 billion won in Seocho-gu, while the prices of same-sized apartment units in the two districts are estimated at over 2.5 billion won.

Gyeonggi Province, which sounds Seoul, outstripped the capital by posting 33.4 percent growth in housing prices over the corresponding period. But the average price far fell short of that of Seoul, staying at 17.91 million won per 3.3 square meters (456 million won for the 84-square-meter units).

Nonetheless, like the price disparity among 25 administrative districts in Seoul, housing unit prices in some Gyeonggi cities were quite high, comparable to the so-called Gangnam area or higher than those of ordinary districts in Seoul.

Gyeonggi Province’s Gwacheon posted 52.43 million won per 3.3 square meters, outstripping Seoul’s Songpa-gu at 51.05 million won, Seoul’s Seongdong-gu at 42.3 million won and Seoul’s Yangcheon-gu at 40.32 million won.

Incheon, a neighboring city of Gyeonggi, also outpaced Seoul in growth with 25.4 percent. Though the home prices in the region per 3.3 square meters stood at 13 million won as of July 2, Incheon’s Songdo-dong saw the its price rise to 22.17 million won.

Sejong topped the list among the nine major regions by recording a 42.6 percent growth from 15.18 million won on July 3, 2020 to 21.64 million won on July 2, 2021.

Sejong’s “record-breaking” real estate price growth since early 2020 has recently stalled, as allegedly speculative investments by some public agency officials were uncovered earlier this year. But the future direction of home and land prices in the administrative city is still drawing nationwide attention.

Next to Sejong and Gyeonggi Province, the third-highest growth was seen in Busan, which posted 33.1 percent to 13.26 million won.

Among the next on the list were Ulsan with 26.3 percent, Daejeon with 23.4 percent, Daegu with 21.1 percent and Gwangju with 12.1 percent.

By Kim Yon-se (kys@heraldcorp.com)