[Asia Economy Reporter Lee Chun-hee] As "proximity to work" is recognized as one of the key factors in real estate value, apartments near industrial complexes are attracting the attention of buyers.
Industry experts analyze that apartments built near industrial complexes have the advantage of steady housing demand due to large-scale job creation, along with continuous infrastructure development benefits such as transportation, commercial districts, and school districts. In particular, the housing market is formed mainly around workers of companies related to the industrial complexes, such as partner companies, maintaining stable prices due to continuous real demand.
In fact, apartments within industrial complex development areas have shown significant price increases. A representative example is Yeongtong-gu, Suwon-si, Gyeonggi Province, where Gwanggyo Technovalley, a high-tech industrial complex housing about 200 domestic and foreign investment companies and university research institutes, is located. According to Real Estate 114, from last November to last month, the apartment sale price increase rate per 3.3㎡ in Yeongtong-gu was 25.8%, the highest among the four districts of Suwon-si.
The same applies to Dalseo-gu, Daegu, where Seongseo Industrial Complex, the largest industrial complex in Daegu, is located. As of the second quarter of this year, 3,040 companies are located in Seongseo Industrial Complex, employing about 49,483 people. The apartment sale price per 3.3㎡ in Dalseo-gu rose by 7.58% over the past year, exceeding Daegu's average of 5.42% during the same period.
Apartments near industrial complexes are showing strength not only in sales but also in the pre-sale market. According to the Korea Real Estate Agency's subscription website, in September, "Hillstate Godeok Sky City," supplied in Godeok International New City, Pyeongtaek-si, Gyeonggi Province, recorded a high competition rate of 28.65 to 1 in the first-priority subscription. The high demand is attributed to the nearby Godeok International City High-tech Industrial Complex, where Samsung Semiconductor Pyeongtaek Campus is located.
Last month, "Yongin Gorim District 3rd Yangwoo Naeanae The Central" in Cheoin-gu, Yongin-si, also recorded an average competition rate of 7.71 to 1 in the first-priority subscription, marking the highest subscription competition rate ever in Cheoin-gu. Currently, there are nine industrial complexes in Cheoin-gu, and additional industrial complexes such as Yongin Semiconductor Cluster, Deokseong 2 General Industrial Complex, and Yongin International Logistics Complex are planned.
An industry official explained, "When an industrial complex is established in the area, large-scale job creation leads to population growth, which improves surrounding infrastructure and creates a virtuous cycle that attracts additional population. This population influx directly leads to housing purchases, resulting in a continuous increase in real estate value due to sustained population growth."
Aerial view of 'Hillstate Yongin Dunjeon Station' in Cheoin-gu, Yongin-si, Gyeonggi Province (Provided by Hyundai Engineering & Construction)
Various new complexes near industrial complexes are scheduled to be supplied this month as well. Hyundai Construction will sell "Hillstate Yongin Dunjeon Station" in Gorim-dong, Cheoin-gu, Yongin-si, Gyeonggi Province. It consists of 13 buildings, ranging from 59 to 84㎡ (exclusive area), with a total of 1,721 households, from basement 2 to a maximum of 29 floors. Cheoin-gu is planned to host the Yongin Semiconductor Cluster, with SK Hynix and more than 50 domestic and foreign semiconductor companies expected to move in, promising abundant demand. Additionally, Yongin Technovalley, the 2nd Yongin Technovalley General Industrial Complex (planned), and Yongin International Logistics 4.0 Logistics Complex (planned) are located nearby, offering a prime location close to workplaces. The complex is a station-area complex within walking distance of the Everline light rail Dunjeon Station and Bopyeong Station, with a 20-minute commute to Giheung Station on the Suin-Bundang Line of the Seoul Metropolitan Subway.
Hyundai Engineering will supply the residential complex "Hillstate Gamsam Central" in Gamsam-dong, Dalseo-gu, Daegu. It consists of 3 buildings, ranging from 84 to 175㎡, with 393 apartments and 119 officetel units of 84㎡, from basement 5 to a maximum of 45 floors. The commercial facility "Hills Avenue Gamsam Central" will also be developed within the complex. The complex is evaluated to have abundant demand due to its proximity to Seongseo Industrial Complex and Seodaegu Industrial Complex. It is within walking distance of Daegu Metro Line 2's Jukjeon Station and Yongsan Station, and is adjacent to Dalgubeol-daero and Waryong-ro, providing easy access to Sincheon-daero Seongseo IC and Namdaegu IC on the Jungbu Inland Expressway. Access to the KTX Seodaegu Station, scheduled to open next year, is also convenient.
Lotte Construction and POSCO Construction will supply "Bupyeong Castle & The Sharp First" in Cheongcheon-dong, Bupyeong-gu, Incheon. It consists of 12 buildings, from basement 2 to 29 floors, with a total of 1,623 households. Among them, 1,140 households ranging from 59 to 84㎡ will be sold to the general public. The complex is a workplace-proximity complex near the GM Korea Bupyeong Plant and Bupyeong National Industrial Complex. The extension of Seoul Subway Line 7 to Sangok Station is scheduled to open near the complex next year, and convenience facilities such as Lotte Mart and CGV are easily accessible.
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