Housing Demand Heats Up Along High-Speed Rail and Gyeongbu Expressway Including Osan

- Nationwide Rapid Access Expected with Infrastructure Improvements Along Stations and ICs
- Posco Construction's 'The Sharp Osan Elifore' and Others Scheduled for Sale

New apartments are being unveiled one after another in areas with excellent metropolitan transportation networks such as SRT, KTX, and the Gyeongbu Expressway, capturing the attention of prospective subscribers. This is because these locations allow for rapid access to key regions nationwide and are expected to benefit from continuous infrastructure improvements centered around stations and ICs.

According to Real Estate Info, about 13,000 households are scheduled to be supplied within this year in southern Gyeonggi (Osan, Hwaseong, Pyeongtaek, Suwon), Seoul, and other areas close to SRT and KTX stations or adjacent to Gyeongbu Expressway ICs.

[The Sharp Osan Elifore Bird's-eye View]

Apartments with well-established metropolitan transportation networks make commuting to surrounding cities easier, making them highly preferred by people who value proximity to their workplace. Residents can also enjoy abundant lifestyle infrastructure such as shopping, cultural, and convenience facilities developed near stations or ICs.

The value increase in areas where high-speed rail stops is particularly noticeable. According to KB Live Real Estate, in March, the average apartment sale price per 3.3㎡ in Osandong, Hwaseong (near SRT Dongtan Station) was 26.4 million KRW, about 10 million KRW higher than Hwaseong’s average of 16.47 million KRW. Iljik-dong, Gwangmyeong, where KTX Gwangmyeong Station is located, also recorded 36.3 million KRW, exceeding Gwangmyeong’s average of 26.89 million KRW. Department stores and large marts have also been opening in these nearby areas.

The area near the Gyeongbu Expressway IC is also leading local housing prices. The 84㎡ unit of ‘The Sharp Osan Central’ near Osan IC was traded at 760 million KRW in May. It is the highest-priced apartment in Osan, with a premium of about 400 million KRW compared to the 2018 sale price.

Real Estate Info’s Research Team Leader Kwon Il said, “How well metropolitan transportation networks are established is an important factor that affects not only subscription results but also housing prices in the apartment market. Especially in the metropolitan area, as residential development expands to outer regions, places that enhance connectivity between cities and facilitate commuting for workers are gaining attention in the supply market.”

Accordingly, demand is expected to continue for new apartment supplies near high-speed rail and Gyeongbu Expressway ICs. POSCO Construction plans to supply a total of 927 households with exclusive areas of 59 to 84㎡ at ‘The Sharp Osan Elifore’ in Osan in May. It is close to Osan IC on the Gyeongbu Expressway and shares the living area of Dongtan New Town, making access to SRT Dongtan Station convenient. Notably, the Ministry of Land, Infrastructure and Transport announced on the 22nd the ‘4th National Railroad Network Construction Plan,’ which includes the extension of the Bundang Line (Giheung~Osan). Once extended, the Bundang Line will allow direct travel to Gangnam and Bundang without transfers. It will also be easier to transfer at Dongtan Station to SRT, GTX-A (planned), and the Indeokwon~Dongtan double-track railway (planned).

Following this, new apartments are expected to be introduced in the first half of the year in Dongtan 2 New Town (SRT, Giheung-Dongtan IC), Pyeongtaek (SRT), and Suwon (KTX). In Seoul, a large complex supply is planned near Seocho IC on the Gyeongbu Expressway.