The site of the Juam District housing development in Juam-dong, Gwacheon-si, Gyeonggi-do, where 1,535 households, including the newlywed hope town, are scheduled to be built. Behind it, apartment complexes in Umyeon-dong, Seocho-gu, Seoul can be seen.
The Juam District in Gwacheon, Gyeonggi Province, is considered the most sought-after area for homebuyers among the pre-sale public housing sites in the metropolitan area this year. It is the closest to Seoul from Gwacheon and faces Seocho and Umyeon Districts, effectively making it part of the Gangnam living zone.
Ahead of the third round of pre-sale starting on the 1st of next month, the Juam District, visited by the reporter last weekend, had a quiet atmosphere. Although flower farms were densely located, since land compensation began in earnest in 2019, many greenhouses are currently empty. However, flower farmers who have not yet relocated were still easily spotted within the district.
Mr. P, working on bonsai in front of a greenhouse, said, "I cannot trust the government's compensation policy," adding, "I certainly cannot trust the survey of affected properties." He pointed to a banner nearby, saying, "The compensation amounts are ridiculously low, causing high dissatisfaction among landowners." The banner read, "Strong Opposition to the Juam District Affected Property Survey."
The project implementer, Korea Land and Housing Corporation (LH), has completed land compensation and is currently conducting the affected property survey. This survey investigates buildings, facilities, crops, and other items on the land that are not essential for project progress. Once the survey is completed, an inventory of items and land records are prepared. Subsequently, compensation amounts are calculated, and final negotiations take place.
The government has set 2006 as the expected completion date for the Juam District, but prospects on the ground are uncertain. A representative from real estate agency A in nearby Gwacheon-dong said, "Juam District has the best location among this pre-sale because it borders Seocho-gu and has a pleasant residential environment," but added, "The problem is it is difficult to predict how long it will take until actual move-in." Citing the Gwacheon Knowledge Information Town nearby, which drifted for over ten years before recent sales, he mentioned, "There are even stories that newlywed couples who applied in their 30s might only be able to move in when they are in their 40s."
The evaluation of the C1 and CB blocks, the target complexes for this third pre-sale, was high. A representative from real estate agency B in Umyeon-dong, Seocho-gu, Seoul, said, "It is the prime location even within Juam District," adding, "The Gwacheon-Wirye Line Juam Station is expected to be right in front, and the school site is right next door." The sale price is also affordable compared to market prices. The 84㎡ unit is expected to be priced around 884.6 million KRW. Considering that newly built apartments of the same size in Jungang-dong, Gwacheon, have actual transaction prices exceeding 2 billion KRW, this is less than half the price.
Meanwhile, in this third pre-sale, a total of 4,167 units will be supplied, including 1,535 units in Gwacheon Juam District, 1,056 units in Hanam Gyosan, 825 units in Yangju Hoecheon, and 751 units in Siheung Hajung.
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