Perspective view of Ssangyong Construction's 'The Platinum Gwangju' (Photo by Ssangyong Construction)
[Asia Economy Reporter Moon Jiwon] As the Ministry of Land, Infrastructure and Transport plans to strengthen resale restrictions on housing supplied in the metropolitan area’s overconcentration control zones, growth management zones, and private land in local metropolitan cities starting this August, interest in non-regulated areas of the metropolitan area such as Gwangju and Yeoju in Gyeonggi Province is increasing.
According to the industry on the 1st, the Ministry of Land announced on the 11th of last month that in order to block speculative demand and supply housing centered on actual demand, the resale restriction period for housing in the metropolitan area will be strengthened from the existing 6 months to until the ownership transfer registration.
In the metropolitan area, the overconcentration control zones and growth management zones are included in the regulation targets, while the natural preservation zones are not included. Among the areas that belong to the natural preservation zones and thus avoided this measure, the real estate markets in Gwangju and Yeoju in Gyeonggi Province, where significant transportation benefits are concentrated, are attracting attention.
A real estate industry official said, "Gwangju and Yeoju are areas close to Seoul but have not received much attention due to the lack of public transportation facilities until now," adding, "Due to recently expanded transportation facilities and benefits, accessibility to Gangnam is improving, and these areas are expected to emerge as new residential hubs replacing representative residential areas in southern Gyeonggi such as Seongnam and Yongin."
According to the Gyeonggi Real Estate Portal, Gwangju recorded a total of 1,533 pre-sale right transactions from January to May this year, about 3.5 times more than the 413 cases during the same period last year. Yeoju also saw apartment sales transactions increase by about 25%, with 241 cases as of the end of last month compared to 192 cases during the same period last year.
New pre-sales are scheduled to take place in these two areas this month. First, in Gwangju, Ssangyong Construction’s 'Ssangyong The Platinum Gwangju' is preparing for pre-sale.
This complex, located in Chowol-eup, Gwangju-si, Gyeonggi Province, consists of 15 buildings with a total of 873 households, ranging from 3 basement floors to 19 above-ground floors. Among them, 146 units will be sold to the general public. Nearby are Gyeonggang Line’s Gyeonggi Gwangju Station and Chowol Station, which are conveniently accessible, and it takes about 10 minutes to reach Pangyo Station from these stations.
Nearby facilities include Dopyeong Elementary School, Chowol High School, Chowol Library, and a municipal daycare center. The complex offers panoramic waterfront views of Gonjiamcheon Stream and views of Baekmasan Mountain.
In Yeoju, Kumho Construction is pre-selling 'Yeoju Station Kumho Eoulim Vertis' in the Gyodong 2 District urban development zone of Yeoju-si, Gyeonggi Province. This complex is the first Kumho Eoulim brand apartment introduced in Yeoju-si. It will be built in Gyodong 2 District, Yeoju-si, Gyeonggi Province, with 7 buildings ranging from 1 basement floor to 27 above-ground floors, with exclusive areas of 84 to 136 square meters, totaling 605 households.
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