Apartment price in Gyeonggi province ’ s Gwacheon city , dropped below the 30 million won mark per 3 . 3 ㎡ area for the first time in two years . According to real estate informant SpeedBank on October 10 , the transaction price of Gwacheon apartments per 3 . 3 ㎡ was 29 . 87 million won by October 4 pricing standards , crashing below the 30 million won line which had been sustained since September 2006 ( 30 . 03 million won ) . The recent housing price in Gwacheon is 24 percent lower than the all - time high 39 . 25 million won in December 2006 , leaving Gangnam district ( 34 . 37 million won ) in Seoul , the only region to hold a over 30 million won housing price per 3 . 3 ㎡ among overall cities , districts and counties nationwide . Gwacheon posted the widest fluctuation in housing transaction prices in Gyeonggi province against the beginning of 2008 at - 4 . 22 percent . By areal criteria , prices for apartments sized under 66 ㎡ dropped the most by 7 . 26 percent due concentration of reconstructions . Prices for houses sized 66 - 99 ㎡ fell 3 . 6 percent , 3 . 42 percent for 99 - 132 ㎡ sized residents and 1 . 37 percent for 132 - 165 ㎡. Gwacheon apartments particularly suffered the bearish trend in housing prices due to a large share of apartments being priced over 600 million won , being subjected to loan regulations and heavy ownership taxes as well as offering blurred business feasibility due to strict reconstruction policies . Moreover , the newly reconstructed ‘ Sur Raemian Jugong 3 Complex ’ receiving new tenants for its 3 , 100 households beginning August is also suppressing down Gwacheon apartment prices . SpeedBank ’ s Kim Eun - kyung said , “ Purchasing trends in Gwacheon has been temporarily suspended recently while articles for urgent sales are piling up in the market as owners of two houses seek to avoid paying the transfer income tax . With the lending rates also on the increase , the fall in Gwacheon apartment prices will continue for a time being . ” [ Dong - eun Lee / JYJ ] [ ⓒ Maeil Business Newspaper & mk . co . kr , All rights reserved ]