4th Preliminary Subscription This Month... 1,700 Households in Goyang Changneung
Goyang Changneung Highly Preferred After Hanam Gyosan
Close to Seoul with Expanded Transportation Networks Like GTX
Parks Within 10 Minutes Everywhere... Eco-Friendly City
The first sale of 1,700 housing units will take place in the Changneung District of Goyang, Gyeonggi Province, which is being developed as a 3rd generation new town. This will be through the government's 4th pre-sale scheduled for the end of this month. Among the 3rd generation new towns, Changneung District is considered one of the areas with high interest from actual buyers, second only to Hanam Gyosan. This is because it is close to Seoul and the transportation network, including the metropolitan area express railroad (GTX) Line A, is expected to be greatly expanded. The nearby area is already buzzing with real estate market expectations due to development prospects, so the pre-sale is seen as an opportunity for actual buyers hoping to purchase a home at a relatively affordable price.
According to the Korea Land and Housing Corporation (LH) and the Ministry of Land, Infrastructure and Transport on the 15th, the government will announce the recruitment of residents for 13,600 housing units in the 4th pre-sale at the end of this month and begin full-scale supply. The target areas include not only 3rd generation new towns such as Goyang Changneung, Namyangju Wangsuk, and Bucheon Daejang, but also some parts of Seoul, such as the site of the Capital Defense Command in Dongjak-gu, so it is expected to attract more attention than the 1st to 3rd rounds.
Changneung District Likely to Become the Most Interested Area in the Northwest Region
Among the 4th pre-sale target areas, the place that actual buyers are focusing on is Goyang Changneung. This area is adjacent to Seoul’s Eunpyeong-gu and Gangseo-gu, and the government has presented a blueprint to develop it as the ‘economic and cultural capital of the northwest metropolitan area.’
According to a survey conducted by real estate information company Zigbang in July before the pre-sale, Goyang Changneung (20.6%) was the second most preferred by prospective buyers after Hanam Gyosan (23.4%), which is adjacent to Seoul’s Gangnam area.
The supply volume in Changneung District through this pre-sale is 1,700 units: 1,100 general public sale housing units (935 special supply units and 165 general supply units) and 600 newlywed hope town units. The pre-sale target area is Wonheung District, which can utilize existing urban infrastructure and is located near the city center, so it is evaluated as having a good location even within Changneung District. This area will be developed as an eco-friendly residential complex with schools and parks. Construction is scheduled to begin in the first half of 2023, with move-ins starting in the second half of 2026.
New GTX-A Changneung Station
About 38,000 housing units will be built in Changneung District, accommodating approximately 83,290 residents. The government plans to develop this area into a self-sufficient city with a metropolitan transportation network, making it a hub in the northwest metropolitan area. To this end, the government finalized the Goyang Changneung metropolitan transportation improvement plan in December last year and is currently proceeding with follow-up procedures such as design and permits for each project.
The key is undoubtedly the establishment of the GTX-A Changneung Station. The GTX-A line runs from Paju Unjeong New Town through Seoul Station to Samseong Station. Changneung Station was not originally included in the 3rd generation new town plan but was added late last year. Since then, apartment prices in the Deokyang-gu area of Goyang have surged by 100 to 200 million KRW, attracting significant attention. In addition, a city railway line connecting Goyang and Seoul’s Eunpyeong-gu, a Bus Rapid Transit (BRT) system, and a connection road from Jungang-ro to the 2nd Jayuro are also planned to be newly established.
Parks and Green Spaces Within 10 Minutes
Another advantage of Changneung District is its abundant green spaces. Utilizing 38.6% of the total area, parks and green spaces equivalent to 13 times the size of Yeouido will be created. Residents will be able to reach a park within 10 minutes from anywhere in the city. The plan is to create an eco-friendly city reflecting the characteristics of urban space centered around the approximately 4 km-long Changneungcheon Stream that flows through the center of the new town.
There is also a plan to expand job opportunities. A complex district (CMD) combining commercial, business, cultural, public, residential, and green spaces will be planned as a landmark of the new town.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
