Which Residential Complexes Benefit from Reduced Commute Times Due to High-Speed Rail?

The areas benefiting from the metropolitan high-speed rail are gaining attention among the younger generation. The main actors are the 2030 generation who are pushed to the metropolitan area near Seoul to avoid the high housing prices in Seoul. Because commuting is fast and convenient by high-speed rail, they are turning their eyes to areas outside Seoul.

The metropolitan area has become more convenient for transportation with the diversification of lines such as KTX, SRT, and GTX, attracting many users. Among them, many have moved to Gyeonggi Province in search of affordable housing and pleasant residential areas, even though their workplaces are in Seoul. The title of "Seoul, the city of 10 million people" has faded, and the number of customers using high-speed trains as a means of commuting rather than regional travel has steadily increased.

As more people use high-speed rail as a commuting method, the real estate market near metropolitan high-speed rail stations is also benefiting greatly. The subscription competition rates provide more detailed insight into this phenomenon.

Dongtan Station, an SRT stop, has seen the development of branded apartment complexes nearby, along with infrastructure such as parks and schools, and large marts and department stores are also scheduled to open. In May, Daebang Construction sold units at ‘Dongtan 2 New City Dongtan Station Dietre Prestige’ in Dongtan 2 New City, Hwaseong-si, Gyeonggi Province. The complex is located right next to Dongtan Station, and with 302 units offered, 244,343 people applied in the first subscription round, recording an unprecedented average competition rate of 809 to 1.

Apartments near Pyeongtaek Jije Station are also considered beneficiary areas. Pyeongtaek Jije Station is a transfer station between the SRT and the metropolitan Line 1, allowing travel to Dongtan New City in 9 minutes and Suseo Station in 21 minutes when using the SRT. With such fast travel possible, the number of users at Pyeongtaek Jije Station has been increasing every year. According to SR, the SRT operator, the number of users at Pyeongtaek Jije Station rose significantly from 781,059 in 2017 to 1,365,355 in 2019.

Among these, GS Construction will sell units in June at ‘Pyeongtaek Jije Station Xi,’ a complex adjacent to Pyeongtaek Jije Station in Yeongsin Urban Development District, Pyeongtaek-si, Gyeonggi Province. The complex consists of 10 buildings with 2 basement floors and 27 above-ground floors, totaling 1,052 units with exclusive areas ranging from 59 to 113㎡. It is a station-area complex within walking distance of Pyeongtaek Jije Station, a transfer station for the SRT and Line 1. It is possible to travel to Suseo using the SRT high-speed rail, and the M-bus (5438) to Gangnam Station is already in operation, providing excellent public transportation access to Gangnam.

The Yeongsin Urban Development District, where ‘Pyeongtaek Jije Station Xi’ is located, covers approximately 560,000㎡ in Pyeongtaek-si, Gyeonggi Province, and will include residential facilities such as apartment complexes and detached houses, as well as infrastructure like parks, green spaces, schools, and public offices. Construction companies such as Hyundai Engineering and Hyundai Construction are also participating as builders, and once development is complete, it is expected to become a big brand village. Additionally, within a radius of about 2 km, there are large industrial complexes such as Samsung Electronics Pyeongtaek Campus, Jinwi 2 General Industrial Complex, and LG Digital Park General Industrial Complex, providing abundant worker demand in the area.

Schools and convenience facilities are also nearby. There are elementary, middle, and high school sites within walking distance, allowing safe commuting for children, and the large retail facility E-Mart (Pyeongtaek branch) is also within walking distance. Notably, ‘Starfield Anseong,’ which opened last October, is about 6.2 km from the complex.