Geumdan Station Geumgang Pentarium THE SILGO in Geomdan New Town with Positive Developments to Open Cyber Model House on the 23rd

Recently, the real estate market has been paying attention to ‘Geomdan New Town’ located in Seo-gu, Incheon. Not only due to various transportation benefits but also because of the announcement of large-scale development plans, the number of unsold units has sharply decreased, and premiums have even been added to the pre-sale rights.

In fact, Geomdan New Town, once called the ‘graveyard of unsold units’ due to the impact of Incheon’s ‘Gyeyang New Town’ designated as the 3rd new town at the end of 2018, saw a turnaround with the announcement of the ‘Metropolitan Transportation Vision 2030.’ This plan includes the extension of Incheon Subway Line 1 to Geomdan New Town.

Thanks to these favorable conditions, all four complexes sold in Geomdan New Town last year were closed in the first priority subscription. Among them, ‘Geomdan New Town Woomeerine Ecoview (437 units)’ supplied in AB12 block recorded the highest competition rate ever in Geomdan New Town at 27.21 to 1. This far exceeds the highest competition rate of 9.8 to 1 (Geomdan New Town Moa Elga Grande) for complexes supplied the previous year (2019).

Premiums have also been added to previously sold complexes. According to the Ministry of Land, Infrastructure and Transport’s real transaction price disclosure system, ‘Geomdan Hoban Summit Phase 1 (exclusive area 84㎡),’ which started moving in first in June this year, has a premium more than twice its sale price (407 million KRW). This complex was actually traded at 820 million KRW in February. ‘Geomdan New Town Useung Hannaedeul Edupark (exclusive area 84㎡),’ scheduled to move in this November, was traded at 634.8 million KRW in January, showing a premium of over 200 million KRW compared to the sale price.

The industry analyzes that within Geomdan New Town, subscription results and premiums are influenced by location and characteristics. The ‘Geomdan Hoban Summit Phase 1’ complex, which recorded a new high price more than twice the sale price, is located in the station area of the newly established Incheon Subway Line 1 station and is convenient for using commercial facilities planned in the area. The ‘Geomdan New Town Woomeerine Ecoview,’ which recorded the highest competition rate ever and attracted attention, is also close to the commercial district and boasts a pleasant residential environment with the Gyeyangcheon Stream flowing south of the complex.

A real estate expert said, “Currently, Geomdan New Town is divided into three phases for urban development, so new complexes will continue to be supplied steadily for some time.” He added, “However, looking at previous cases, sale prices are expected to continue rising, so many buyers are expected to flock to the complexes supplied this year.”

Meanwhile, today (the 23rd), Geumgang Housing announced that ‘Geomdan Station Geumgang Penterium THE SIGLO,’ supplied at the prime location in Phase 1, closest to Seoul, has opened its cyber model house and officially started the sales schedule, attracting the attention of many buyers.

The complex is located in the Geomdan New Town area of Incheon Metropolitan City and consists of 4 buildings with 2 basement floors and 35 above-ground floors, totaling 486 households, including apartments, officetels, and neighborhood living facilities. Apartments and officetels are supplied with 447 units (exclusive area 84㎡) and 39 units (exclusive area 39㎡), respectively, and the neighborhood living facilities are designed as a street mall inspired by Covent Garden in London, UK.

Geomdan Station Geumgang Penterium THE SIGLO is equipped with abundant infrastructure in transportation, commerce, and education.

First, the complex is a ‘station area’ complex within walking distance of the newly established station on the Incheon Line 1 extension (scheduled for 2024). It is also accessible within 10 minutes by car to Gimpo Gold Line’s ‘Pungmu Station,’ Incheon Subway Line 2’s ‘Dokjeong Station,’ and Airport Railroad’s ‘Geomam Station.’ Additionally, it offers easy access to various parts of the metropolitan area via the Metropolitan Area 1st Ring Expressway (formerly Outer Ring Expressway) and Gimpo Hangang-ro highway.

Furthermore, a commercial site adjacent to the complex is planned for the ‘Geomdan New Town 101 Station Area Development Project (hereafter Next Complex)’ covering approximately 49,540㎡. The Next Complex will include multiplex cinemas, cultural centers, large bookstores, convention centers, kids and sports theme parks, and is also close to a large-scale legal town where the Incheon District Court Northern Branch and Incheon District Prosecutors’ Office Northern Branch will be established, expected to attract diverse future demand.

The excellent educational environment also stands out. The complex is within walking distance of an English village, and many educational facilities are about to open, including Balsan Elementary School, Wondang High School, and planned schools such as Geomdan 1, 3, and 5 Elementary Schools, Geomdan 1 Middle School, and Geomdan 1 High School. It also boasts abundant natural environments such as a historical park and Gyeyangcheon Stream, and once the Gyeyangcheon Riverside Park Development Project (planned) is completed, various convenience facilities will be available.

Meanwhile, the Geomdan Station Geumgang Penterium THE SIGLO model house is located in the Seo-gu area of Incheon Metropolitan City.