Premium Expectations Near International School... Jeil Construction's Two Apartments in Pyeongtaek Godeok New City Draw Attention

Jeil Construction Jeil Punggyeongchae BI

With the government's policy to abolish autonomous private high schools and specialized high schools, demand is focusing on apartments supplied by Jeil Construction near international schools in Pyeongtaek. The apartments in question are ‘Jeil Construction Godeok New Town Jeil Poonggyeongchae 2nd Edu’ and ‘Jeil Construction Godeok New Town Jeil Poonggyeongchae 3rd Centum,’ which Jeil Construction launched in Pyeongtaek, Gyeonggi Province, in July and September last year. Jeil Construction's Poonggyeongchae brand is receiving enthusiastic attention nationwide, including the metropolitan area.

Jeil Construction’s ‘Godeok New Town Jeil Poonggyeongchae 2nd Edu’ is located in Godeok New Town and consists of 9 buildings from basement level 1 to ground level 25, totaling 877 households. It includes one type of 75㎡ exclusive area with 138 households and three types of 84㎡ exclusive area totaling 739 households. Right next to it, Jeil Construction’s ‘Godeok New Town Jeil Poonggyeongchae 3rd Centum’ consists of 9 buildings from basement level 1 to ground level 32, with 820 households ranging from 75 to 84㎡ exclusive area.

Jeil Construction, Godeok New Town Jeil Punggyeongchae Phase 3 Centum Rendering

These Jeil Construction Poonggyeongchae complexes are enjoying indirect benefits due to their proximity to international schools amid the controversy over the abolition of autonomous private and specialized high schools. The government announced the ‘Plan to Resolve High School Hierarchy and Strengthen General High School Educational Competence,’ which includes the full implementation of the high school credit system from 2025 and the conversion of autonomous private high schools, foreign language high schools, and international high schools into general high schools. As a result, international schools are emerging as alternatives to autonomous private and specialized high schools, significantly increasing the value of the apartments Jeil Construction has introduced in Pyeongtaek.

In fact, Godeok New Town in Pyeongtaek, where Jeil Construction’s Godeok New Town Jeil Poonggyeongchae 2nd Edu and 3rd Centum are located, offers easy access to the planned international school. The ‘Godeok New Town Edu Town,’ which is being developed in front of these Jeil Construction complexes, is an education-specialized zone covering approximately 167,000㎡. It plans to establish an international school as well as new kindergartens, elementary, middle, and high schools.

Moreover, an overseas university is also planned to be established near the Jeil Construction Poonggyeongchae complexes, further enhancing the educational environment. The international exchange complex, covering about 1,074,000㎡ in the northern part of Edu Town in Yulpo-ri, Godeok-myeon, is aiming to attract foreign universities ranked within the top 200 worldwide. Along with foreign universities, exclusive detached and multi-family housing for foreigners, theme parks, and an international exchange center will be developed.

International school-adjacent complexes have formed premium prices exceeding hundreds of millions of won, raising expectations for the Jeil Construction Poonggyeongchae complexes in the higher-end Godeok New Town. According to the Ministry of Land, Infrastructure and Transport’s actual transaction price system, the 84㎡ exclusive area of Songdo The Sharp 14th Complex Harbor View (292 households, moved in April 2011), adjacent to Chadwick International School, was traded at a maximum of 610 million won in December last year but rose by more than 80 million won in just one month to 697 million won in January this year. The Sharp Green Walk 2nd Complex (665 households, moved in August 2014) with an 84㎡ exclusive area also increased from a maximum of 690 million won in December last year to 840 million won in March this year.

An industry expert said, “As existing educational institutions such as specialized high schools and autonomous private high schools transition to general high schools, parents seeking differentiated educational environments at international schools are flocking, driving popularity. The fact that an international school will be established right next to Jeil Construction’s Godeok New Town Jeil Poonggyeongchae 2nd Edu and 3rd Centum complexes has attracted significant attention among buyers.”

Additionally, Jeil Construction’s Godeok New Town Jeil Poonggyeongchae 2nd Edu and 3rd Centum offer comprehensive infrastructure for convenient living. A BRT bus stop is located right in front, and nearby facilities such as the ‘Pyeongtaek Arts Center’ and libraries are planned. The Hambaksan Neighborhood Park (approximately 670,000㎡) is also under development. The complexes are expected to attract strong demand due to their proximity to workplaces such as Samsung Industrial Complex, the planned Pyeongtaek Brain City, and the planned Godeok New Town Administrative Town.

Meanwhile, Jeil Construction’s Godeok New Town Jeil Poonggyeongchae 2nd Edu and 3rd Centum each closed all types in the first priority application round last year with competition ratios of 17.36:1 and 20.68:1, respectively. The move-in for Jeil Construction’s Godeok New Town Jeil Poonggyeongchae 2nd Edu is scheduled for February 2023, and for the 3rd Centum, March 2023.