A bill designating Daejeon as an innovation city has passed in the National Assembly. In connection with this, guidelines have been issued to designate the original downtown area, including the station area, causing real estate prices in the original downtown to surge rapidly. In particular, the area near KTX Seodaejeon Station in Jung-gu, Daejeon, which is expected to have a triple station area, is anticipated to be highly popular.
If Daejeon is designated as an innovation city, it will secure new growth engines for the region through the attraction of various public institutions. Additionally, the increase in good jobs will lead to a significant rise in the young population, and quality jobs will attract more people, revitalizing the local economy.
Currently, the positive effects are overshadowed by the COVID-19 virus, but once the official government plan is announced, the nearby real estate market is expected to rise due to these favorable conditions. However, the shortage of small residential facilities compared to the increase in jobs remains an urgent issue that the original downtown areas such as Jung-gu in Daejeon must address.
In Daejeon, the area near KTX Seodaejeon Station in Jung-gu is considered a place with excellent living and transportation infrastructure, as it houses department stores, Homeplus, Costco, CGV cinemas, Samsung Service Jung Daejeon Center, BMK, and is very close to Chungnam National University Hospital and St. Mary’s Hospital.
Right next to KTX Seodaejeon Station, the Seodaejeon Station Koaru Summit officetel and commercial spaces are being sold, offering parking spaces for all units and an unmanned parcel delivery system. Comparing officetels, nearby newly built multi-family and urban lifestyle housing units with exclusive areas of 6 to 7 pyeong (approximately 19.8 to 23.1 square meters) have rental fees ranging from a deposit of 5 million to 10 million KRW and monthly rents of 400,000 to 500,000 KRW for one-room and 1.5-room units. Due to parking inconveniences and differences in convenience facilities, it is predicted that once Seodaejeon Station Koaru Summit is completed, it will be very popular among nearby office workers.
Also, commercial spaces start at prices in the 300 million KRW range per store along the roadside. With the Daejeon Metro Line 2 tram station (scheduled for completion in 2025) right next to KTX Seodaejeon Station, the future value is expected to increase further. Seodaejeon KTX Station will be used together with the Chungcheong Regional Metropolitan Railroad (scheduled for completion in 2024), so a dramatically changed appearance is expected within a few years.
The sales office for Seodaejeon Station Koaru Summit has relocated to 110, Wubang Sky Palace Road, Oryu-ro, Jung-gu, near the site, and is currently operating there, offering special benefits that are expected to end soon.
The project is implemented by Korea Land Trust, and Geumgang General Construction is in charge of construction.
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