Quietly Growing Traffic Benefit Premium, Line 7 Extension '(Tentative) Seoknam Misojium' Draws Attention

This year as well, the metropolitan transportation network in the Seoul metropolitan area is being significantly improved, which is expected to have a positive impact on the housing market in the areas along the affected lines.

In particular, the transportation benefits in the metropolitan area have directly reduced commuting and school travel distances to Seoul.

In the metropolitan area, the extension of Seoul Subway Line 7, which currently operates up to Bupyeong-gu Office Station in Bupyeong-gu, Incheon, is a hot topic as it will be extended beyond the western part of Bupyeong-gu to Seoknam-dong, the entrance of Seo-gu, Incheon, in October. Seoknam Station allows transfers to Incheon Subway Line 2, improving Seoul accessibility for residents of Seo-gu, Incheon.

As a result, there is growing anticipation among buyers for new complexes supplied in the areas where the transportation network is extended. According to nearby real estate agents, in the original downtown areas such as Gajwa and Seoknam-dong along the extended line, apartment pre-sale rights are trading at premiums ranging from 50 million KRW to over 100 million KRW.

An industry insider said, “The expansion of railway transportation networks and the rise in apartment prices are inseparable formulas. Especially, transportation benefits such as new lines being opened are important factors when choosing apartments, so complexes in beneficiary areas tend to respond sensitively.”

In this context, the '(tentative name) Seoknam Misojeum' complex, located at 564-2 Seoknam-dong, Seo-gu, Incheon Metropolitan City, is attracting much attention.

The (tentative name) Seoknam Misojeum is a one-minute walk from Seobu Women’s Center Station on Line 2 and is expected to benefit from the Line 7 extension. This line will be directly connected to Gangnam, Seoul. There is also a plan to extend it to Cheongna International City in 2021. Additionally, it is conveniently located for access to the Gyeongin Expressway by car and public transportation, facilitating easy travel to Seoul and the metropolitan area.

Moreover, many elementary, middle, and high schools such as Geonji Elementary, Cheonma Elementary, Seoknam Elementary and Middle, Gajwa Middle and High, Incheon Health High, and Garam High are adjacent to the complex. A daycare center is planned within the complex, providing satisfactory conditions for parents concerned about their children's education. Nearby convenience facilities such as Homeplus and Gajwa Market are also easily accessible.

It offers reasonable prices with potential for future premiums. A union official said, “In the old downtown area of Seoknam-dong, where the proportion of aging apartments is high, a complex priced lower than the market is being built, raising expectations among local residents. Besides the demand for transfers within Songdo and Cheongna areas, inquiries from outside regions are frequent as the transportation benefits such as the Line 7 extension are expected to improve accessibility to Seoul.”

Meanwhile, the (tentative name) Seoknam Misojeum consists of a total of 989 households across two basement floors and up to 35 floors above ground, with exclusive areas of ▲52㎡ 81 units, ▲59㎡ 562 units, and ▲74㎡ 217 units, mainly composed of small to medium-sized units preferred by consumers. Some units are designed with 4-bay layouts, pantries, and movable walls to maximize convenience for residents.