Hanam Ranks 1st in 3rd New Town Preference Due to Excellent Gangnam Accessibility
11,290 Net Migrants by July This Year
Large Influx of Waiting Subscription Demand Expected
Goyang Ranks 2nd in Preference and Population Growth
Incheon and Bucheon Experience Population Outflow Instead
[Asia Economy Reporter Onyu Lim] Among the planned 3rd phase new towns in the Seoul metropolitan area, Hanam City has shown the most active population inflow. This is attributed to the fact that the Hanam Gyosan district is evaluated as having the best accessibility to the Gangnam area among the five new towns, attracting a large number of prospective residents waiting for pre-sale lottery wins.
On the 10th, Asia Economy analyzed population movement in the planned 3rd phase new towns from the beginning of this year to July based on Statistics Korea data, revealing that Hanam's net migration (inflow) population, where the Gyosan district is located, was the highest at 11,290 people. Net migration population is calculated by subtracting the total outflow population from the total inflow population. During this period, Hanam City had a total inflow population of 36,056 and a total outflow population of 24,591. This means an average monthly increase of 1,613 people.
Hanam is gaining attention due to its excellent accessibility to Gangnam and improvements in transportation conditions, such as the opening of the Seoul Subway Line 5 extension on the 8th of last month. In particular, it appears that a large number of prospective applicants waiting to fulfill the mandatory residence period for first-priority subscription moved in due to the announcement of the Gyosan district development. According to recent data surveyed and released by the Ministry of Land, Infrastructure and Transport, among the five 3rd phase new towns?Hanam Gyosan, Goyang Changneung, Gwacheon, Namyangju Wangsuk, Bucheon Daejang, and Incheon Gyeyang?the preference for the Gyosan district was the highest at 20%.
Especially as the government has confirmed that pre-sale subscriptions for the 3rd phase new towns will be conducted sequentially from the second half of next year, the correlation between the preference for the 3rd phase new towns and net migration population is expected to become clearer. To qualify for first-priority housing subscription in large-scale land development districts in the metropolitan area, one must have resided in the relevant area for more than two years as of the date of the resident recruitment announcement.
The net migration population of Goyang, where the Changneung district with the second-highest preference among the 3rd phase new towns is located, was 10,673, ranking second after Hanam. The Changneung district is close to Gangseo-gu to the south and Mapo and Eunpyeong-gu to the east, and with the establishment of the Goyang Line connecting Subway Line 6 and Goyang City Hall, commuting to Yeouido will be possible within 25 minutes.
The net migration population of Namyangju, where the Wangsuk 1 and 2 districts are located, was 7,150. The Wangsuk district is the largest among the 3rd phase new towns, with a total of 66,000 households.
On the other hand, Bucheon, where the Daejang district is located, and Incheon, where the Gyeyang district is located, saw a decrease in net migration population. Bucheon and Incheon experienced net outflows of 5,780 and 12,403 people respectively this year.
The preference for the 3rd phase new towns and the resulting population movement are also significantly affecting local rental prices. In Hanam, rental prices have risen for 61 consecutive weeks as of the second week of September. Last month, the average apartment rental price per 3.3㎡ in Hanam was 14,738,000 KRW, a 30.88% increase compared to the same period last year (11,261,000 KRW). This is the highest increase rate among local governments nationwide during the same period.
Kim Hak-ryeol, head of the Smart Tube Real Estate Research Institute, diagnosed, "Hanam has a high subscription preference, many newly built apartments, and recently residential officetels have been established, leading to a population increase. On the other hand, Bucheon Daejang and Incheon Gyeyang are relatively less preferred southwestern new towns, so the subscription competition rate is expected to be low." He advised, "To increase the chances of winning a subscription, one should devise a strategy considering preference and population inflow."
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