‘Real Haksegwon’ Within Walking Distance for Elementary, Middle, and High School Students, ‘Hillstate Geomdan Wellcounty’

With the spring housing market coinciding with the new school season, demand from buyers aiming to secure ‘real school zone’ complexes is heating up. How safely and closely children can commute to educational facilities has emerged as a key factor in home-buying decisions.

In fact, recent housing markets have shown remarkable subscription competition rates for school zone complexes. For example, in March, ‘Hillstate Guri Station’ in Sutaek-dong, Guri-si, Gyeonggi-do recorded a double-digit average competition rate of 14.9 to 1 for first-priority subscriptions. The complex is adjacent to Guri Elementary School, allowing for walking commutes, and is surrounded by school facilities such as Inchang Middle and High Schools.

Also in the same month, ‘Cheomdan Prime City Seohui Starhills’ in Buk-gu, Gwangju Metropolitan City recorded an average first-priority subscription competition rate of 50.97 to 1. The complex is located within a 5-minute walk of Yongdu Elementary and Yongdu Middle Schools.

The industry explains this as a result of the housing market being reorganized around actual demanders, with dual-income households in their 30s and 40s balancing work, housework, and childcare emerging as the core demand group, increasing demand for complexes where children can commute nearby.

According to the Korea Real Estate Board, last year’s nationwide apartment sales transactions totaled 669,182, of which transactions by people in their 30s and 40s amounted to 336,119. This accounts for about 50%, meaning one out of every two buyers is in the 30-40 age group.

Accordingly, the value of individual complexes with school zone locations has also risen significantly. According to KB Real Estate Market Price data, the sale price of a 101㎡ unit in ‘Cheongna Jeil Punggyeongchae’ (occupied since April 2012) in Cheongna International City, Seo-gu, Incheon, was 865 million KRW as of March this year, up about 255 million KRW from 610 million KRW in the same month last year. The complex is located right in front of Cheongram Elementary School, with Cheongho Elementary and Cheongram Middle Schools nearby.

This month, a school zone complex boasting excellent educational environments is being supplied, attracting strong interest from buyers. The protagonist is ‘Hillstate Geomdan Well County,’ developed by Incheon Urban Corporation and constructed by a Hyundai Construction consortium. On April 12 (Tuesday), during the first-priority subscription for the relevant and other regions, a total of 46,070 applications were received for 575 units (excluding special supply), resulting in an average competition rate of 80.12 to 1, closing all housing types. This is the highest number of subscription applications and the highest competition rate ever recorded in Geomdan New Town. The highest competition rate was for the 125㎡ P-type unit, which recorded 524.5 to 1 in other region subscriptions.

In fact, Hillstate Geomdan Well County offers an environment ideal for raising children. First, planned sites for kindergarten through elementary, middle, and high schools are all located within 700 meters of the complex, providing an excellent educational environment. The complex will include a daycare center and a community care center for children, as well as a library and individual study rooms. Additionally, an indoor playground has been created to secure a safe play space for children, and a guest house has been introduced to provide a comfortable space for family and acquaintances to stay.

Moreover, nearby living infrastructure is outstanding. Within 500 meters of the complex is a planned central commercial district, and close by is the Canal Complex, a commercial and cultural complex developed in connection with Central Lake Park, which combines cultural and leisure functions. Furthermore, a site for a planned comprehensive medical facility is located nearby, enabling convenient living.

The complex is located in Geomdan New Town, Seo-gu, Incheon Metropolitan City, consisting of 13 buildings ranging from three basement floors to 25 above-ground floors, with units sized from 74 to 125㎡, totaling 1,535 households. It is subject to the price ceiling system, offering competitive prices compared to surrounding market prices. The average price per 3.3㎡ is 13.47 million KRW, with contract terms of 10% down payment, 60% interim payment, and 30% balance payment. Additionally, while the resale restriction period is five years, there is no obligation for actual residence.

Private contracts for Hillstate Geomdan Well County will be held over four days from May 9 (Monday) to May 12 (Thursday), and public contracts will be conducted over seven days from May 30 (Monday) to June 5 (Sunday). The model house is currently open, and move-in is scheduled for January 2025.