As the construction of the ‘Hwaseong International Theme Park,’ which Shinsegae Group is promoting with the goal of creating a Korean version of Disneyland, is expected to be actively pursued, housing prices within SongSan Green City in Hwaseong are stirring.
To promote the construction of Hwaseong International Theme Park, Shinsegae Hwaseong, a joint venture between Shinsegae Property and Shinsegae Construction, announced in March that it purchased the construction site for 867 billion KRW. Although the project had faced several setbacks and cancellations, the land acquisition has put the project on track.
Hwaseong International Theme Park will be developed on approximately 4.23 million square meters in Hwaseong, Gyeonggi Province. With a total project cost of about 4.57 trillion KRW, it is planned as a theme park integrating accommodation, shopping, and leisure facilities such as Starfield, premium outlets, amusement parks, swimming pools, golf courses, and hotels, incorporating cutting-edge IT technology. Shinsegae Group aims to start construction in 2023, open the first phase in 2026, and hold the grand opening in 2031. Upon completion, the Hwaseong International Theme Park is expected to create about 15,000 jobs and attract 19 million visitors annually, contributing to the revitalization of the local economy.
As such a major development prospect becomes visible, apartment prices in SongSan Green City have surged by hundreds of millions of KRW within a few months, generating excitement. According to the Ministry of Land, Infrastructure and Transport’s real transaction price disclosure system, an 84.95㎡ unit in ‘SongSan New City Daebang Nobleland The Prestige Phase 1’ was sold for 800 million KRW last month. Compared to the 515 million KRW transaction in October last year, this represents a price increase of nearly 300 million KRW in six months. Additionally, a 74.93㎡ unit in ‘SongSan Green City Bando Yubora Ivy Park’ was sold for 470 million KRW in January but rose by 130 million KRW to 600 million KRW in April, just three months later.
SongSan Green City is also gaining attention due to improvements in transportation networks, in addition to the Hwaseong International Theme Park development. First, the Bongdam?SongSan Expressway opened in April, directly benefiting SongSan Green City. This expressway is part of the Seoul Metropolitan Area’s Second Ring Expressway and connects to the Pyeongtaek-Siheung Expressway, Seohaean Expressway, and Bongdam-Dongtan Expressway, greatly enhancing accessibility from SongSan to the entire metropolitan area. Furthermore, the Sinan Line, scheduled to open in 2024, will significantly improve access to downtown Seoul.
Amid abundant positive factors, Gangsan Construction announced plans to supply SongSan Rian Biche, the region’s first large-scale detached terrace house complex, in July in the eastern district of SongSan Green City, attracting attention.
SongSan Rian Biche will be developed on a block in Hwaseong, Gyeonggi Province, recently recognized as a preferred residential location within the metropolitan area. It will consist of 259 households across one basement floor and three above-ground floors. All units will have a preferred exclusive area of 84㎡, offering a comfortable living space that combines the strengths of both apartments and detached houses. Additionally, most of the complex will face south, promising excellent natural lighting and abundant sunlight.
The eastern district of SongSan Green City is a densely populated residential area equipped with various commercial and educational facilities and is increasingly regarded as a fully developed new town. The project site is within walking distance of excellent educational institutions, including kindergartens, Songrin Elementary and Middle Schools, Saesol High School, and the Saesol-dong academy district.
It also boasts rich natural surroundings. The Siwha Lake flows right in front, and nearby Sunoel Central Park, along with waterfront and neighborhood parks developed along Siwha Lake, provide excellent spaces for leisure and hobbies. Opposite the site, the World Garden Gyeonggi Garden (scheduled for 2023), which forms an eco-belt 140 times the size of a soccer field, as well as Ansan Reed Wetland Park and Bibong Wetland Park, offer abundant green infrastructure.
Gangsan Construction’s high-quality construction capabilities, backed by 40 years of experience, also draw attention. Ranked within the top 100 in construction capability evaluations, Gangsan Construction is advancing its housing business with the Rian Biche residential brand. In fact, the Sejong Rian Biche Hills, launched last year in Sejong City, sold out all units within three days of the sales opening, receiving strong demand from buyers.
The excellent product quality demonstrated by the sell-out experience is also notable. SongSan Rian Biche offers a wider service area compared to apartments, boasting versatile space usability for rest, work, and leisure. It also provides convenient underground parking with about 1.7 spaces per household. Moreover, as a detached house complex, it is free from inter-floor noise, which is a major source of conflict among neighbors in apartment complexes, making it an ideal environment for raising children.
A sales representative for SongSan Rian Biche stated, “Once the Hwaseong International Theme Park, the biggest positive factor in SongSan Green City, is completed, it will firmly establish itself as a preferred residential area with abundant jobs and various living infrastructures. We expect that SongSan Rian Biche, the first large-scale detached terrace house complex supplied in the region, will attract both residents and investment demand.”
Meanwhile, the SongSan Rian Biche pre-promotion center is located in Hwaseong, Gyeonggi Province.
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