A favorable wind is blowing in the real estate market of Wonju, Gangwon-do. Apartment transaction volumes are significantly increasing, while prices and the performance of the pre-sale market continue to soar.
According to the analysis of the ‘Monthly Apartment Sales Transaction Status’ released by the Korea Real Estate Agency, a total of 11,669 apartment transactions were recorded in Wonju last year. This represents an increase of about 28.22% compared to the previous year's transaction volume of 9,101. Compared to the transaction volume of 3,942 in 2019, two years ago, it is a staggering threefold surge.
Along with the increase in transaction volume, the price rise trend is also clear. According to data from Real Estate R114 Reps, the average sale price per 3.3㎡ of apartments in Wonju last year was 6.42 million KRW, surpassing 6 million KRW. Notably, this marks a significant milestone as it is the first time in over 10 years since 2011 that a double-digit growth rate has been recovered.
This favorable trend in Wonju’s real estate is also clearly reflected in the pre-sale market. Two complexes pre-sold in Wonju last year closed their subscriptions in the first priority round. ‘Wonju Enterprise City EG the 1 Phase 3’, supplied in Jijeong-myeon in September, recorded an average competition rate of 7.15 to 1, while ‘Hoban Summit Namwonju Station Area’, pre-sold two months later in Musil-dong, broke the record for the highest competition rate in Gangwon-do history with an average of 89 to 1 in the first priority round. Additionally, ‘Chohyeoksindosi Ubora Markbridge’, pre-sold in Gwansel-dong in May this year, also achieved excellent results with an average first priority competition rate of 27.97 to 1.
Experts analyze that various development benefits and the balloon effect of regulations have been effective in Wonju’s upward trend. Currently, complex sports centers are being built in different zones of Wonju, and the Gwansel Hi-Pass IC is scheduled to open in 2025. Furthermore, with the confirmation of maintaining the factory total quantity system, which limits the number of factories in the metropolitan area, for 20 years, many companies are reportedly focusing on Wonju for factory construction. Amid this, with the addition of strong real estate regulations across the metropolitan area, Wonju, which is directly adjacent to the metropolitan area, has begun to attract attention from investors.
An industry insider said, “The Wonju real estate market, which had been quiet for the past few years, has seen steady demand inflow since last year due to increased external investment from the regulatory area’s spillover benefits, enhanced accessibility to the metropolitan area, and the metropolitan factory total quantity system,” adding, “This trend is expected to continue this year, and interest in new pre-sale complexes in Wonju is also expected to be high.”
Meanwhile, Hyundai Construction is scheduled to launch ‘Hillstate Wonju Restige’ in the Gwansel-dong area of Wonju, Gangwon-do, in August.
The complex is equipped with convenient wide-area transportation networks such as KTX Wonju Station and the Jungang Expressway, and is adjacent to the Gwansel Hi-Pass IC, scheduled to open in 2025. Once completed, it is expected to disperse traffic from the existing Namwonju IC and significantly reduce travel time to Gwansel-dong and the Innovation City.
Additionally, it is close to Homeplus, the Dangun residential-commercial district, and shares infrastructure with the old downtown Musil district and the new downtown Wonju Innovation City, offering convenience. Nearby green spaces such as Chodanggeori Mountain and Dangun Park provide a pleasant residential environment.
Moreover, near the complex are various industrial complexes and companies, including the Wonju Innovation City public office, Taejang Agricultural Industrial Complex, and Advanced Medical Device Techno Tower, ensuring abundant residential demand.
Hillstate Wonju Restige will be built with 13 buildings ranging from 2 basement floors to 18 above-ground floors, with a total of 975 households and exclusive areas ranging from 84 to 136㎡. It features a floor plan mainly composed of medium to large sizes preferred in Wonju, applying a maximum 4Bay-4Room structure. High-quality design unique to Hillstate is applied, including entrance storage provided in all types and, depending on the type, pantry, dressing room, alpha room, powder room, and more.
The model house is scheduled to open in August.
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