Along Transportation Networks, Housing Subscription Market Heats Up... Hallra to Launch Sales This Month in Asan, Chungnam

[Asia Economy Reporter Kim Hyemin] Transportation network routes are affecting not only apartment sale prices but also the pre-sale market.

According to the industry on the 1st, apartments sold this year in areas such as Yangpyeong and Pyeongtaek in Gyeonggi Province recorded high subscription competition rates thanks to transportation network benefits.

In February, 'The Sharp Jije Station Central Park 2BL' sold by POSCO Construction near Jije Station in Pyeongtaek recorded an average competition rate of 32 to 1. Currently, Jije Station can be accessed via the SRT, a high-speed rail from Suseo, and Subway Line 1. Additionally, with the Suwon-origin KTX direct connection project scheduled to begin construction by the end of this year, subscription accounts flooded in.

In March, 'Yangpyeong Station Halla Vivaldi' sold by Halla in Yangpyeong-eup, Gyeonggi, attracted 14,040 applicants for 1,039 units, recording an average competition rate of 13 to 1. This is the highest number of subscriptions in Yangpyeong's pre-sale history, with all housing types closing at the first priority subscription. This reflects expectations that accessibility to Seoul will further improve with the opening of the Metropolitan Area 2nd Ring Expressway (Yangpyeong~Hwado section) next year and the Yangpyeong~Icheon Expressway in 2025.

On the 23rd of last month, 'Harrington Place Smart Valley' conducted by Hyosung Heavy Industries in Asan, Chungcheongnam-do, attracted 3,701 applicants for 393 units, recording an average subscription competition rate of 9.41 to 1.

Asan has abundant benefits such as the Cheonan~Asan Expressway scheduled to open next year, the 2023 Cheonan~Pyeongtaek Expressway, the 2024 Seoul~Cheonan~Sejong Expressway, and the 2026 Cheonan~Gongju Expressway.

This month, 'Asan Halla Vivaldi Smart Valley,' developed by Cheongam A&C and constructed by Halla, will be sold in Sandong-ri, Eumbong-myeon, Asan City. With a total of 998 units, it is the largest apartment complex in the Asan Smart Valley Industrial Complex. This complex is considered a beneficiary area of the transportation network as the 1st and 2nd ring road networks, which Cheonan City is progressing as a core project, pass near the complex. Once all these transportation networks are established, accessibility to Samsung Display Asan Campus, Hyundai Motor Asan Plant, as well as the metropolitan area, Dangjin, and Pyeongtaek Port is expected to improve.

A real estate industry official said, "Expansion of transportation infrastructure directly affects real estate price increases as it becomes a background for population inflow and regional economic revitalization," adding, "In times of market uncertainty due to strengthened government regulations, it is necessary to pay attention to new transportation network planned areas recognized as definite benefits."