Around 16,000 Housing Units to Be Sold in New Towns and Residential Districts in the Seoul Metropolitan Area, Bringing a 'Spring Breeze'

In the spring sales market, which has officially opened, supply is expected to be active in new towns and housing sites in the metropolitan area, where demanders have a high preference for residential areas.

According to Real Today, a real estate research firm, the number of apartments (including townhouses) for sale in new towns and housing sites in the metropolitan area from March to May this spring reaches a total of 16,449 units across 18 complexes. This accounts for about 41.5% of the 39,590 units supplied in the metropolitan area during the same period and represents a 151.8% increase compared to 6,531 units in the same period last year.

By region, there are △12,005 units in Gyeonggi-do and △4,444 units in Incheon. In Gyeonggi-do, supply is coming from areas such as Gwacheon Knowledge Information Town, Osan Segyo District, and Paju Unjeong District, while in Incheon, sales are planned in Geomdan New Town and Songdo International City.

An industry expert said, “Housing sites are attractive due to systematic infrastructure development and, in the case of public housing sites, the price ceiling system is applied, making the complexes cheaper than market prices, which naturally appeals to demanders.” He added, “For these reasons, complexes supplied in metropolitan housing sites are recording excellent subscription results day after day.”

In fact, ‘Pangyo Valley Xi,’ which was sold in January in the Godeung District of Seongnam City, Gyeonggi-do, was spotlighted as a lottery complex, recording an average subscription competition rate of 64.59 to 1 in the first priority subscription. In February, ‘Uijeongbu Gosan Sujain The Stage,’ sold in the Gosan District of Uijeongbu City, Gyeonggi-do, succeeded in closing the first priority subscription with an average competition rate of 26.01 to 1.

Meanwhile, although Gwangmyeong-Siheung was announced as an additional public housing site in the metropolitan area on the 24th of last month, development is still far off, so demanders’ interest is expected to focus on the new towns and housing site supplies this spring.

Hoban Construction and Hoban Industry plan to supply a total of 1,075 units with ‘Hoban Summit Lateras’ and ‘Hoban Summit Granville’ in Osan Segyo District 1 and 2, Gyeonggi-do this month. Hoban Summit Lateras will offer a total of 208 units with terrace designs (except for some units) in 10 buildings ranging from basement 2 floors to ground 4 floors, with exclusive areas of 96 to 153㎡. Hoban Summit Granville will introduce 867 apartment units in 9 buildings ranging from basement 2 floors to ground 25 floors, with exclusive areas of 74 to 104㎡.

Both complexes are conveniently accessible to Osan University Station on Subway Line 1 in the metropolitan area, and many large and small parks such as Osan Mulhyanggi Arboretum, Eunbit Stream Park, and Street Park are located within walking distance, providing a pleasant residential environment. Additionally, school sites such as Sucheong Elementary School and Jeongwon Kindergarten are located nearby. Since Dongtan New Town is close, the living area can be shared, and the Pilbong Tunnel connecting Osan Segyo District and Dongtan 2 New Town is scheduled to open in December 2021.

Woomi Construction plans to supply the public-supported sensitive rental ‘Paju Unjeong New Town Woomirin The First’ in Paju, Gyeonggi-do in March. The complex will have a total of 846 units ranging from basement 1 floor to ground 28 floors, with exclusive areas of 59 to 84㎡. Nearby, elementary, middle, and high schools are planned to open, and neighborhood parks and commercial facilities including large marts are close. With the GTX-A line Unjeong Station scheduled to open, commuting to Seoul will become more convenient, and access to the metropolitan transportation network such as the Seoul-Munsan Expressway and the 2nd Jayuro is also convenient.

In Gwacheon Knowledge Information Town, public sales including newlywed hope towns are scheduled for May. Public sales will offer 318 units with exclusive areas of 46 to 84㎡, and newlywed hope towns will have 227 units with exclusive areas under 60㎡. Including 114 units of Happy Housing, the S8 block complex will total 659 units.

Geumseong Baekjo plans to supply a total of 1,172 units of ‘Geomdan New Town Yemiji 2nd Phase (tentative name)’ in Geomdan New Town in April. The road between Geomdan and Gyeongmyeong-ro, scheduled to open in 2023 near the complex, will provide easy access to Olympic-daero and the Outer Ring Road, and once the Wondang-Taeri wide road is completed, it will take about 10 minutes by car to Banghwa Bridge. Nearby, elementary, middle, and high schools as well as an English village are planned, providing an excellent educational environment. Plans also include Smart With Up, large shopping centers, specialty stores, and logistics centers.