Transaction Volume Increase: Yeoncheon 104.4%, Yeoju 81.4%, Icheon 62.8%
While apartment transaction volumes in Gyeonggi Province are sharply declining, some areas such as Yeoncheon, Yeoju, and Icheon have seen an increase in transactions. In fact, comparing the transaction volumes in Gyeonggi from 2020 to 2021, the number dropped by 37.3% (106,453 transactions) from 285,246 to 178,793. However, Yeoncheon County saw a significant increase of 104.40% (182 transactions → 372 transactions, an increase of 190), followed by Yeoju City (82.4%), Icheon City (62.8%), and Pocheon City (44.8%).
Most of the areas with rising transaction volumes are non-regulated zones. As most parts of Gyeonggi Province have been designated as regulated areas, demand is expected to shift to the few remaining non-regulated areas. In particular, non-regulated areas have lower loan barriers and abundant transportation benefits, improving accessibility to Seoul, which has led to an increase in demand.
In non-regulated areas, anyone aged 19 or older residing in the metropolitan area can apply for housing subscription as a first priority regardless of whether they are the head of household or a household member, homeownership status, or previous winning history. Additionally, anyone with a subscription savings account can apply as a second priority regardless of subscription period or deposit amount.
Because of these advantages in subscription, non-regulated areas have attracted significant attention in the housing subscription market. In July last year, the 'Jihaeng Station Centreville Parkview' in Dongducheon received 2,199 first-priority subscription applications for 134 households (excluding special supply), achieving an average competition rate of 16.41 to 1, setting the highest subscription competition rate in the area. Also, the ‘Pocheon Riverfore Seyoung Richel’ launched in Pocheon in August last year attracted 832 subscription accounts for 399 households (excluding special supply), breaking the record for the highest competition rate in Pocheon, with a top competition rate of 5.8 to 1.
Meanwhile, Jeil Construction Co., Ltd. announced the sale of a new apartment, ‘Line 1 Jeongok Station Jeil Punggyeongchae River Park,’ in the non-regulated area of Yeoncheon County. Yeoncheon County, where the complex is located, is one of the few remaining non-regulated areas in the metropolitan area, where both heads of households and household members can apply for subscriptions, and anyone with a subscription savings account can apply regardless of homeownership or previous winning status.
The complex will be built by the reputable Jeil Construction Co., Ltd. brand in a residential area in Yeoncheon County rich in transportation, education, and convenience infrastructure.
Line 1 Jeongok Station Jeil Punggyeongchae River Park offers convenient access to Uijeongbu, Pocheon, Ilsan, and Seoul via Sinpyeonghwa-ro~Dongbu Expressway, Guri~Pocheon Expressway, and National Road No. 37. Additionally, the opening of National Road No. 3 bypass (scheduled for the end of 2022) and the extension of Line 1 Jeongok Station (scheduled for the end of 2022) are expected to dramatically improve transportation conditions. Once Jeongok Station opens, it is expected to take 42 minutes to Uijeongbu and about an hour to Cheongnyangni. Furthermore, with the opening of the GTX-C line in 2027, it is anticipated that it will take about an hour to reach Gangnam (Samseong Station) via Deokjeong Station.
Various living infrastructures are also abundant. Residents can easily access traditional markets, Hanaro Mart, Hyosarang Hospital, and other facilities. Cultural amenities such as the Prehistoric Culture Camp in Hantan River Neighborhood Park, Hantan River Pine Camping Site, and Hill Camping Ground are also available, making it an ideal place for raising children. A public daycare center is planned within the complex, and Jeongok Elementary, Jeongok Middle, and Jeongok High Schools are nearby, boasting an excellent educational environment. Notably, Jeongok-eup in Yeoncheon County benefits from the ‘Rural Special Admission’ advantage.
The complex, located in Yeoncheon County, plans to establish itself as a landmark representing the region by offering differentiated products. The buildings are arranged mainly facing south to maximize natural light and sunlight rights, with views of the Hantan River available from most units (except some). The 4-bay layout provides excellent openness, and specialized designs such as dressing rooms and pantries are applied throughout the units to enhance space utilization. It is designed as a pleasant park-type complex rarely seen in Yeoncheon County, with various community facilities to provide a more comfortable living environment.
The complex will consist of 10 buildings ranging from one basement floor to 14 to 27 floors above ground, with units ranging from 65 to 220 square meters in exclusive area, totaling 845 households. The model house is scheduled to open in April. The developer is Borasan Industrial Development Co., Ltd.
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