Office-tel 'GTX Rise Effect' in Focus, 'Byeongjeom Station Unam Firstville The Pent' Selling Successfully

- Areas Benefiting from GTX Show Apartment Price Increase Rates About Twice the National Average Over the Past 2 Years
- Clear GTX Price Increase Effect in Officetels as Well... Officetels Near GTX-A and C Attract Attention

The so-called 'GTX effect,' referring to the rise in housing prices near the metropolitan area’s Great Train Express (GTX) lines, is spreading to the officetel market as well.

According to the Korea Real Estate Board, as of June this year, the average nationwide apartment sale price was around 510 million KRW, marking a 36% increase compared to the same month in 2020. In contrast, areas where GTX development is underway showed about twice that rate of increase. For example, the apartment price increase rate in Uiwang City, Gyeonggi Province, where GTX-C Uiwang Station is planned, was 64% during the same period. Ansan City, where GTX-C Sangroksu Station is being promoted, also showed a 65% increase.

A similar trend is seen in officetels. According to KB Real Estate, in June this year, an 84㎡ officetel unit at ‘Ilsan The Sharp Gravista’ in Ilsanseo-gu, Goyang City, Gyeonggi Province, was sold for 870 million KRW (31st floor). Compared to the sale price of 615 million KRW (30th floor) in June 2020, this is an increase of 255 million KRW, about 41% over two years. Ilsanseo-gu is expected to have Kintex Station, a stop on the GTX-A line.

In April this year, an 88㎡ officetel unit at ‘Pyeongchon I-Park’ in Dongan-gu, Anyang City, Gyeonggi Province, was sold for 510 million KRW (15th floor). Compared to the sale price of 400 million KRW (15th floor) in April 2020, it rose by 110 million KRW in two years. The planned additional GTX-C stop at Indeogwon Station near the officetel is analyzed to have driven the value increase.

Officetel within about a 2-minute walk from Byeongjeom Station, expected to benefit from GTX

As the GTX price increase effect becomes more evident in officetels, attention is focused on the new officetel ‘Byeongjeom Station Unam Firstville The Pent,’ located about a 2-minute walk from Byeongjeom Station.

Constructed by Unam Construction, ‘Byeongjeom Station Unam Firstville The Pent’ is situated in the commercial land area of Byeongjeom Complex Town (Byeongjeom-dong), Hwaseong City, Gyeonggi Province. It consists of 81 units in total, including 77 officetel units of 84㎡, 3 units of 86㎡, and 1 unit of 87㎡, spanning from 4 basement floors to 17 above-ground floors.

‘Byeongjeom Station Unam Firstville The Pent’ is an ultra-station-area officetel located about a 2-minute walk from Byeongjeom Station on Seoul Metropolitan Subway Line 1. The Dongtan Tram, connecting Byeongjeom Station to Dongtan Station, is scheduled to open in 2027, enabling transfers to the planned GTX-A and SRT Dongtan Station in the future. Additionally, discussions are underway regarding the extension of the GTX-C line, raising expectations for the GTX effect. The Byeongjeom-dong area of Hwaseong City, where the complex is located, has shown a housing price increase rate of over 90% in the past three years.

Adjacent to major corporate industrial complexes, expected to benefit from Byeongjeom Complex Town development

The area also has abundant demand. Samsung Electronics’ Nano City Hwaseong Campus and Giheung Campus are located nearby. In addition, it is close to several industrial complexes such as Suwon General Industrial Complex and Osan Gajang General Industrial Complex. Accordingly, a strong demand base is expected, centered on employees of large corporations and professionals. Given the numerous jobs, excellent liquidity in housing demand is also anticipated. Furthermore, it is close to universities such as Hanshin University, Kyung Hee University, and Suwon University, which may generate demand from students and faculty members.

Benefits from development projects are also expected. Byeongjeom Complex Town, where the complex is located, is a large-scale urban development project covering 375,641㎡ (about 52 times the size of a soccer field) in the Byeongjeom-dong and Jinan-dong areas of Hwaseong City, Gyeonggi Province. Centered around Byeongjeom Station on Seoul Metropolitan Subway Line 1, convenient living infrastructure including residential, commercial, public administration, cultural, and natural facilities is being established.

Robust living infrastructure also draws attention. The U&U Center, equipped with various sports and educational facilities such as a swimming pool, golf practice range, and ice rink, is within walking distance. Homeplus, a public health center, and an administrative welfare center are also conveniently accessible. Nearby are Saebom Elementary and Byeongjeom Elementary Schools, enabling safe walking commutes for children. The complex town also offers abundant green spaces such as Lake Park, Central Plaza, Hwasan Ecological Park, and Hwasan Sports Park, promising a pleasant residential environment.

Distinctive specialized design is another point of interest. Along with spacious layouts preferred by actual users, features such as 3-room units, 4-bay layouts, dual-direction living room windows, and ceiling heights of 2.5m (2.6m with tray ceilings) maximize openness. The top-floor penthouse incorporates specialized designs including a duplex attic and terrace for versatile use, aiming to realize a high-quality residential premium.

These advantages have translated into strong subscription enthusiasm. In the recent subscription application, ‘Byeongjeom Station Unam Firstville The Pent’ received 900 applications for 81 units, achieving an average competition rate of 11.1 to 1 and successfully closing subscriptions for all types. Notably, the 84㎡A-5 type recorded the highest competition rate of 56 to 1.

Meanwhile, the model house for ‘Byeongjeom Station Unam Firstville The Pent’ is currently open, and move-in is scheduled for December 2024.