30% of Gyeonggi Province Land Owned by Seoul Residents

Seoul residents own 30.6% of privately held land in Gyeonggi Province, with residents from other cities and provinces owning 35.8% (1,771㎢) of the 4,942㎢ of privately owned land in Gyeonggi Province.

These findings were revealed in land and building ownership analysis data by residential area and age group released on the 21st by the Ministry of Public Administration and Security's Real Estate Information Management Center.

According to the data, of the 64.2% of land owned by Gyeonggi Province residents, 43.5% is owned by residents in the same city, county, or district, and 20.7% is owned by residents outside the city, county, or district. Including owners from other provinces, 56.5% of land is owned by residents in different cities, counties, or districts from where the land is located.

Residents from other provinces own Gyeonggi Province land in the following order: Seoul, followed by Incheon (1.9%), Gangwon (0.6%), and South Chungcheong (0.5%).

By age group, land ownership showed 50s at 24.9%, 60s at 24.8%, and 40s at 23.8%, with those in their 40s through 60s owning 73.5% of the land. The 70s owned 10.2% and 30s owned 9.3%.

Additionally, teenagers (10s) owned 0.33% (17.4㎢) and children under 9 owned 0.09% (4.6㎢), with minors under 20 owning 0.42% of the land, totaling 22㎢ or approximately 6.67 million pyeong.

In the case of buildings, out of the total 546㎢ of building area in Gyeonggi Province, buildings owned by Gyeonggi Province residents accounted for 84.4% (461㎢), while buildings owned by residents from other cities and provinces accounted for only 15.6% (85㎢), suggesting that buildings are less preferred than land in terms of property ownership.

By age group, those in their 40s owned 47.0% of buildings in Gyeonggi Province, followed by 50s at 21.4%, 30s at 14.8%, and 60s at 10.8%, showing that building owners tend to be younger than land owners. <Yonhapnews>