-‘Traffic Desert’ Yangju's Reversal... Rising GTX-C Benefit Expectations Heat Up Yangju's Housing Market, Consecutive Record-Breaking Subscription Results
-Next Subscription Hit? Station Area Yangju Hoecheon New Town 'Deokgye Station Geumgang Pentarium Central Park' Draws Attention
Yangju New Town in Gyeonggi Province is emerging as a beneficiary of improved transportation networks. This is because the most influential GTX (Metropolitan Area Express Railway) in the current real estate market is planned for the area.
GTX is a new concept metropolitan transportation system that connects major hubs in downtown Seoul from the outskirts of the metropolitan area. Unlike existing subways, it features a straightened route and operates at speeds over 100 km/h (up to 200 km/h). The Yangju New Town began to experience a real estate market boom after the GTX-C line construction project passed the preliminary feasibility study in December 2018.
The GTX-C line connects a 74.2 km section starting from Deokjeong in Yangju, passing through Gangnam’s Samseong and Yangjae, and continuing to Suwon. Using GTX at Deokjeong Station, where Line 1 currently stops, reduces commuting time to Seoul’s Gangnam area from about 1 hour 30 minutes to around 20 minutes. With improved accessibility to the entire metropolitan area including Gangnam, GTX is regarded as a ‘metropolitan transportation revolution.’ Construction is scheduled to begin in 2021, with an opening targeted for 2025. Additionally, the extension of Subway Line 7, planned to open in 2024, is expected to further enhance Yangju’s access to Seoul.
Based on these excellent transportation benefits, the Yangju housing market has heated up. The ‘Yangju Okjeong New Town Jeil Punggyeongchae Lake City,’ which launched its subscription this month, attracted 4,062 applicants for 1,053 units. This is the highest number of first-priority subscription accounts ever gathered for apartments sold in Yangju New Town. The average competition rate was 3.86 to 1. The ‘Yangju Hoecheon Daebang Noble Land,’ launched in April, also closed subscriptions with an average competition rate of 4.3 to 1, attracting 3,160 applicants for 732 units in the first and second priority rounds. This was the first complex supplied in Hoecheon New Town and achieved the best record in Yangju’s history.
An industry insider explained, “Recently, Yangju has been spotlighted as a non-regulated area with relatively free subscription requirements and loan restrictions, which has directly reflected in the subscription success.” They added, “This is underpinned by solid transportation benefits.”
With this momentum, attention is focused on whether ‘Deokgye Station Geumgang Pentarium Central Park’ in Yangju Hoecheon New Town, supplied by Geumgang Housing, will continue the success. This complex is planned for A-22BL in Hoecheon District, Yangju, Gyeonggi Province, consisting of 6 buildings from basement level 1 to 29 floors above ground, totaling 935 units. All units feature a exclusive area of 59㎡. Despite the 59㎡ size, the 100% slab-type structure and 4BAY design provide a spatial feel similar to 84㎡.
Accessibility to Seoul is also good. It is a station area within walking distance of Deokgye Station on Line 1. The GTX-C line is scheduled to be completed at Deokjeong Station, the next stop after Deokgye Station, which will drastically reduce travel time. The complex also has access to Yangju IC on the Sejong-Pocheon Expressway and Howon IC on the Seoul Outer Ring Road, and the Metropolitan Area 2nd Outer Ring Road is scheduled to open in 2024.
Moreover, the Hoecheon Urban High-tech Industrial Complex and Yangju Technovalley are planned within Yangju New Town, which is expected to improve proximity between residence and workplace.
The living infrastructure is also excellent. The complex is adjacent to the central commercial area of Hoecheon New Town and nearby convenience facilities in the Goeup and Deokjeong districts can also be used. The area is densely populated with schools such as Sinseol Elementary, Sinseol Middle, Deokgye Middle, and Sinseol High School. It is also close to Deokgyecheon Stream, Cheongdam Sports Park, and Okjeong Central Park, offering a pleasant residential environment.
Meanwhile, the model house for Deokgye Station Geumgang Pentarium Central Park is located at 93-1 Okjeong-dong, Yangju-si, Gyeonggi Province.
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