-Cooperation for GTX-C Line Pyeongtaek Extension in Osan, Pyeongtaek, and Hwaseong Cities, Gyeonggi
[Photo by Osan City Hyundai Regional Housing Association, "The above image was created to aid consumer understanding and may differ from the actual product."]
The ‘Osan Hyundai Construction Hillstate,’ recognized as a prime location benefiting from excellent infrastructure and the GTX, announced on the 14th that it has successfully completed the second phase of member recruitment and has commenced the third phase.
In November last year, Gyeonggi Province proposed to the Ministry of Land, Infrastructure and Transport to include the extension plan of the GTX-C line in the 4th National Railway Network Construction Plan (2021?2023). Subsequently, in February, a cooperative agreement for the extension of the metropolitan area express railway (GTX) C line was signed with Hwaseong, Osan, and Pyeongtaek cities. According to the agreement, the four local governments agreed to extend the GTX-C line (Yangju?Cheongnyangni?Samsung?Suwon) to Pyeongtaek Jije Station. Osan City anticipates that once the line is extended and connected to Subway Line 1, travel to Seoul Gangnam will be possible within 30 minutes.
The regional housing association apartment, Osan Hyundai Construction Hillstate, is confirmed to have a total of 927 units across 9 apartment buildings ranging from basement level 2 to 29 floors above ground, with units sized ▲59㎡ 414 households ▲64㎡ 187 households ▲84㎡ 326 households. Parking capacity is available for 1,194 vehicles underground. Resident communal facilities will include ▲senior citizen centers ▲children’s playgrounds ▲daycare centers ▲resident fitness facilities ▲reading rooms ▲resident rest areas, among others. Within the complex, various convenience facilities such as ▲walking trails ▲fitness clubs ▲indoor golf practice ranges ▲GX rooms ▲members’ cafes will also be provided for residents.
To the south of the project site, large industrial complexes such as ▲LG Electronics Digital Park ▲Jinwi General Industrial Complex ▲Jinwi 2 General Industrial Complex are adjacent, which is expected to increase real estate value due to demand from nearby industrial complexes.
Living infrastructure includes ▲Lotte Mart Osan Branch ▲E-Mart Osan Branch ▲Lotte Cinema Osan ▲CGV Osan ▲Osan Korean Hospital, and there are abundant green spaces such as ▲Madeungsan Mountain ▲Osan Malgeumteo Park. The school district includes ▲Daewon Elementary School ▲Wonil Elementary School ▲Wonil Middle School ▲Unam Middle School ▲Seongho High School ▲Unam High School.
A representative from the Osan Hyundai Regional Housing Association (Chairman Lee Yohan) stated, “The project site is located in the eastern living zone according to Osan’s basic urban plan and is situated at the southernmost part of Osan, allowing residents to enjoy a dual living zone between Osan and Pyeongtaek.”
Osan is a transportation hub with excellent connectivity in the southern Gyeonggi area, intersected by Gyeonggi-daero (National Route 1), Gyeongbu Expressway (Osan IC), and Subway Line 1 Osan Station. Additionally, the GTX-A line section from Samsung to Dongtan, which passed preliminary feasibility and is currently under construction, is being built in connection with the SRT.
Osan Hyundai Construction Hillstate has completed 100% land ownership transfer, district unit plan approval, and architectural review submission, and is scheduled to begin construction in December. After project approval and construction completion, general sales will be conducted according to the real estate market prices in Osan. The current third phase member recruitment price is known to be around 9 million KRW per pyeong. Hyundai Construction Co., Ltd. is the scheduled contractor, and KB Real Estate Trust Co., Ltd. is managing the funds to enhance project safety.
On the 17th of last month, the government announced the ‘Management Plan for Housing Market Stabilization’ as part of the 6.17 real estate measures, designating additional speculative overheated districts and regulated areas. Consequently, households owning two or more houses in regulated areas are prohibited from obtaining mortgage loans for new home purchases. Even single-home households face mortgage loan restrictions unless exceptions such as disposal of existing homes apply, and all mortgage loans for purchasing homes in regulated areas, except for actual residence purposes, are blocked.
However, among regulated areas, real demand buyers who meet all conditions including a combined annual income of 80 million KRW (90 million KRW for first-time buyers), housing price below 500 million KRW, and being a non-homeowner household head, are granted benefits of an additional 10 percentage points on Loan-to-Value (LTV) and Debt-to-Income (DTI) ratios.
A representative of Osan Hyundai Construction Hillstate stated, “For group loans on pre-sale housing in newly designated regulated areas, an LTV of 70% is uniformly applied. Non-homeowner households or single-home households who have signed disposal condition agreements and won the subscription or completed the deposit payment before the 19th can apply the previous LTV 70% for interim payment loans.”
The Osan Hyundai Construction Hillstate housing promotion center is located in Wondong, Osan City.
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