Expansion of Transportation Network and Deregulation: Yeongjong International City Hwaseong Park Dream Phase 2 Scheduled for Sale

-Non-Regulated Areas in the Seoul Metropolitan Area, Incheon Jung-gu with High Population Growth Rate
-Yeongjong International City Transforming with Expanded Transportation Networks Including the Planned 3rd Yeonryuk Bridge

Due to the government's continuous high-intensity real estate measures, the rate of increase in housing prices is slowing down and transaction volumes are gradually decreasing, showing signs of consumer contraction, especially in regulated areas of Seoul and the metropolitan area. The recently announced September 13 housing market stabilization measures impose strict loan regulations even on homebuyers purchasing for actual residence, leading to relatively increased interest in non-regulated areas.

With the recent February 20 real estate measures, Suwon (Yeongtong-gu, Gwonseon-gu, Jangan-gu), Anyang (Manan-gu), and Uiwang City have been additionally included in the adjusted target areas, effectively reducing the scope of non-regulated areas.

A real estate official stated, “The movement of buyers to non-regulated areas is a natural phenomenon, and non-regulated areas with well-established living infrastructure, improved transportation environments, and high future development potential can continuously attract interest and drive price increases.”

In fact, in the northern Gyeonggi area of the metropolitan region, which has recently gained attention, subway Line 7, the metropolitan wide-area express railroad (GTX) line, and various railway development plans are scheduled. In Incheon Metropolitan City, Yeongjongdo has transportation benefits such as the Third Yeongryuk Bridge (scheduled for 2025), which, once opened, will connect directly to Cheongna International City, sharing living infrastructure and facilitating easy access to and from Seoul. All these areas are non-regulated regions with strict real estate regulations not applied.

In particular, Jung-gu, Incheon, where Yeongjong International City is located, is a non-regulated area in the metropolitan region with steady population inflow and high interest from actual demand buyers. According to Statistics Korea, the population growth rate in major metropolitan areas has been the highest over the past year (from February 2019 to February 2020).

According to a real estate official, “The reason Yeongjong International City is attracting attention in the real estate market is not only because it avoids regulations but also because of numerous transportation and development benefits, as well as abundant living infrastructure such as education and nature already in place.” They added, “Relatively affordable prices compared to the infrastructure and residential environment also attract many inquiries from both actual demand buyers and investors.”

Meanwhile, a new housing complex is planned in Yeongjong International City, drawing attention. It is Hwaseong Park Dream Phase 2. Hwaseong successfully sold Hwaseong Park Dream Phase 1 in Yeongjong International City and recently completed move-ins, and plans to launch Phase 2, consisting of small to medium-sized floor plans, soon.

‘Yeongjong International City Hwaseong Park Dream Phase 2’ is located at 1766-2 Unnam-dong, Jung-gu, Incheon Metropolitan City (Yeongjong International City A-58BL), consisting of 8 apartment buildings with 1 basement floor and 21 above-ground floors, along with auxiliary facilities. It comprises a total of 499 households with exclusive areas of 64㎡, 73㎡, 75㎡, 84㎡A, and 84㎡B, and is scheduled for sale in the first half of the year.

‘Yeongjong International City Hwaseong Park Dream Phase 2’ is near Yeongjong Elementary School, and Incheon Byeolbit Elementary School is planned to open. According to the Incheon Office of Education, Yeongjong Haneul 3 Middle School (tentative name) and Yeongjong Haneul 6 High School (tentative name) are scheduled to be newly established. Additionally, it boasts an excellent educational environment with renowned high schools such as Incheon Haneul High School, Incheon International High School, and Incheon Science High School nearby. Access to Seoul and the metropolitan area is excellent via the Airport Railroad Yeongjong Station, and wide-area transportation networks such as Yeongjong Bridge, Incheon Bridge, and Incheon International Airport are easily accessible. Residents can enjoy a pleasant healing life 365 days a year at Seaside Park, which offers various recreational and sightseeing facilities such as a neighborhood park (tentatively named Energy Park) directly connected to the complex, rail bikes, camping sites, and walking trails.