Comfortable Residential Environment at Gyeongin Ara Waterway, Seonhwangdaengisan, and Gyeyangcheon
Best Seoul Accessibility in Geomdan New Town... Anticipation for GTX-D
As the Year of the Black Ox begins, the popularity of residential complexes offering views of nature such as mountains, parks, and the sea is expected to continue.
These complexes are highly preferred because residents can enjoy beautiful natural scenery from inside their homes while also experiencing a comfortable living environment. Additionally, the high demand compared to the supply contributes to their premium value and popularity.
In fact, complexes with secured natural views are very popular. Last year, the ‘Geomdan New Town Woomeerin Ecoview’ in Geomdan New Town, Incheon, recorded a competition rate of up to 52.75 to 1 and an average of 27.2 to 1 in the first priority application. This is the highest average competition rate ever recorded in Geomdan New Town. The ‘Geomdan New Town Woomeerin Ecoview’ benefits greatly from having the Gyeyangcheon Stream flowing right in front of the complex, securing a river view that has been a major attraction for buyers.
Moreover, complexes with natural views tend to command higher premiums. According to the Ministry of Land, Infrastructure and Transport’s real transaction price disclosure system, an 84㎡ unit in ‘Cheongna Hoban Verdiium’ located in Cheongna International City, Seo-gu, Incheon, was traded for 640 million KRW (12th floor) in February. This complex offers views of the Simgokcheon Stream and Cheongna Lake Park, which increased its premium by over 200 million KRW compared to the 435 million KRW (2nd floor) transaction in the same month last year.
In the first half of this year’s sales market, apartments with natural views are also expected to attract significant interest from buyers.
Geumseong Baekjo plans to launch ‘Geomdan New Town Yemiji First Foret’ in Geomdan New Town this April. The complex will consist of 10 buildings ranging from basement level 2 to 25 floors, with units sized between 76 and 102㎡, totaling 1,172 households.
This complex has the advantage of a pleasant residential environment with Seonhwangdaengi Mountain and the Gyeongin Ara Waterway located to the south. Residents can enjoy views of Seonhwangdaengi Mountain from within the complex and conveniently access the Gyeongin Ara Waterway Park via a passageway. Additionally, the nearby Gyeyangcheon Stream, walking trails, and planned neighborhood parks offer close proximity to a comfortable natural environment.
‘Geomdan New Town Yemiji First Foret’ is situated at the gateway location of Geomdan New Town, making its locational value very high. It is also considered one of the complexes with the best accessibility to Seoul within Geomdan New Town. A main road is located right in front of the complex, facilitating easy vehicle access.
Residents can also enjoy various transportation benefits in Geomdan New Town. The road connecting Geomdan and Gyeongmyeong-ro, scheduled to open in 2023, will improve access to Olympic-daero and the Outer Ring Expressway. Furthermore, once the Won-dang to Tae-ri wide-area road opens, access to Seoul will become even faster.
Additionally, the opening of a new station on Incheon Subway Line 1 in Geomdan New Town is planned for 2024. Upon completion, travel times will be approximately 10 minutes from Gyeyang Station to Magok, 30 minutes to Seoul Station, and 40 minutes to Gangnam. Recently, a business agreement was signed to promote the GTX-D line, which will run from Gimpo through Bucheon, Sillim, Gangnam, Jamsil, and extend to Hanam, further raising expectations for Geomdan New Town’s transportation environment.
The complex is also characterized as a safe education-specialized complex with elementary, middle, and high schools located nearby. All three school levels are planned to be within a 500-meter radius of the complex, and kindergartens and the Incheon English Village are also close by, providing excellent educational infrastructure. Moreover, all schools are scheduled to open before residents move into ‘Geomdan New Town Yemiji First Foret,’ making it a highly desirable school district complex without educational concerns.
Well-established living infrastructure and abundant demand in the surrounding area are additional major advantages. Residents can conveniently use the Next Complex, the landmark of the first phase of Geomdan New Town development, the central commercial district, and government offices. The Next Complex is a multi-cultural facility where culture, commerce, residence, and business coexist. In particular, nearby logistics and distribution centers such as Smart With Up, large shopping centers, and specialty stores are planned to be built close by. Additionally, the Incheon District Court Northern Branch and Incheon District Prosecutors’ Office Northern Branch are planned to be constructed on approximately 46,000㎡ (23,000㎡ each for the court and prosecutor’s office).
The product quality is also excellent. The entire complex is primarily south-facing, and the 4- to 5-Bay floor plans maximize natural light and ventilation. A large open corridor design in the center of the complex secures wind paths, and each unit offers spacious alpha rooms, large dressing rooms, and pantry designs to provide ample storage space. Notably, the 84㎡B and 102㎡B types feature three-sided balconies, maximizing usable space.
In February, the Housing and Urban Guarantee Corporation (HUG) announced improvements to the high-priced pre-sale price review system, allowing new apartment pre-sale prices to be set up to 90% of market prices. As pre-sale prices are expected to rise significantly, many buyers are anticipated to show interest in ‘Geomdan New Town Yemiji First Foret,’ which offers relatively reasonable prices for homeownership.
Meanwhile, since its founding in 1981, Geumseong Baekjo has continued successful sales based on 40 years of accumulated technology and construction capabilities. Ranked 48th in the 2020 Ministry of Land, Infrastructure and Transport construction capability evaluation, Geumseong Baekjo has been recognized not only for quality but also for the brand value of premium apartments, having won the ‘National Best Apartment to Live’ Presidential Award twice and the Prime Minister’s Award once.
Having already gained brand recognition among buyers by successfully selling ‘Geomdan New Town Yemiji Triple Edu’ in Geomdan New Town in 2019, interest in this new sale is also high. In fact, Geumseong Baekjo’s 2019 ‘Geomdan New Town Yemiji Triple Edu’ recorded a first priority competition rate of up to 12.94 to 1 and an average of 2.26 to 1, selling out all housing types early.
The model house for ‘Geomdan New Town Yemiji First Foret’ is currently being constructed in the Seo-gu area of Incheon, with move-in scheduled for September 2023.
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