'Hillstate Bullo Forest' Gaining Attention Amid Expectations for Seoul Subway Line 5 Extension to Gimpo

Urban Rail Extension Benefit Locations (Incheon Lines 1, 2; Seoul Line 5)... 'Hillstate Bullo Forest' Anticipated

Expectations are rising in transportation beneficiary areas such as Gimpo Hangang New City and Bulo District in Seo-gu, Incheon, due to the planned extension of Seoul Subway Line 5.

On the 11th, the Ministry of Land, Infrastructure and Transport designated 7.31 million square meters in Masan-dong, Unyang-dong, Janggi-dong, and Yangchon-eup areas of Gimpo City, Gyeonggi Province, as a new public housing district, and plans to promote an extension project to bring Seoul Subway Line 5 accordingly. Once Line 5 is extended, travel time from Gimpo Hangang 2 Compact City to Gwanghwamun in Seoul will be reduced from the current 90 minutes to 69 minutes. In particular, the GTX-D line is expected to pass through Janggi Station, improving future transportation conditions.

[Kimpo Hangang 2 Compact City Metropolitan Transportation Network Plan (Source: Ministry of Land, Infrastructure and Transport)]

Although it is not yet confirmed whether the Line 5 extension will pass through Incheon, the Bulo District area in Seo-gu, Incheon, which is geographically adjacent to Gimpo Hangang 2 Compact City, is generating high expectations. Regardless of where the Line 5 extension route is decided, it is difficult to proceed with any project without fully including Bulo District, so local experts agree that Incheon Bulo District can be considered one of the beneficiary areas.

Looking at the planned railway networks, all scheduled lines such as the Incheon Line 2 extension to Goyang (selected for preliminary feasibility study including Incheon-Gimpo-Goyang), Line 1 extension from Geomdan to Daegok District, GTX-D line plan (Janggi Station~Geomdan~Seoul Samsung Station~Paldang, Yeoju), and Line 5 extension plan (detailed routes in Incheon, Gimpo, and Gyeonggi to be discussed) inevitably pass indirectly through Incheon Bulo District. Additionally, the Gyeyang-Hanghae Expressway IC connects to Bulo District, and roads such as Dogye-Majeon connecting road, Daegok-Bulo connecting road, and Geumgok-Daegok connecting road are either under construction or planned to connect with Bulo District, making it highly likely to become a transportation hub linking Geomdan, Bulo District, and Gimpo in the future.

A real estate expert said, “Interest in Bulo District has surged since the announcement of the Seoul Line 5 extension,” adding, “Not only Line 5 but also Incheon Lines 1 and 2 and the GTX-D line are undergoing multiple transportation developments, and since this area is also planned for future development, Incheon Seo-gu Bulo District, expected to benefit, naturally attracts high interest from buyers.”

Amid ongoing transportation benefits in Seo-gu, Incheon, the ‘Hillstate Bulo Forest’ located in Bulo District is gaining attention as a beneficiary complex. The complex consists of 8 buildings with 3 basement floors to 25 above-ground floors, totaling 736 households, all composed of a single preferred exclusive area of 84㎡ favored by buyers.

First, the Incheon Line 1 Geomdan extension line connecting Gyeyang to Geomdan (scheduled to open in 2024) is under construction. Once opened, it will enable travel within 30 minutes to Seoul Gimpo Airport Station and Seoul Station via Gyeyang Station, a transfer station for Incheon Line 1. Also, the Incheon Line 2 Goyang extension project was confirmed in the ‘4th Metropolitan Area Wide-area Transportation Implementation Plan (2021?2025).’ This line connects Dokjeong Station on Incheon Line 2 through Geomdan Bulo District to Geolpobukbyeon Station (Gimpo Light Rail), KINTEX Station (GTX-A), Juyop Station (Seoul Line 3), Ilsan Station (Gyeongui-Jungang Line), and Jungsan District (Goyang City, Gyeonggi Province). The Ministry of Land, Infrastructure and Transport applied for a preliminary feasibility study to the Ministry of Economy and Finance in October, and if it passes in 2023, construction is planned to start in 2029.

Nearby, road network projects are also underway. The Daegok-dong to Bulo District connecting road (scheduled to open sequentially between 2023 and 2024) is under construction, and National Road 98 (Dogye-Majeon section) connecting Geomdan (Majeon-dong) to Ilsan is planned (scheduled for completion in 2025).

The sale prices are also reasonable. Although these are branded apartments built in the metropolitan area, prices are set in the low 500 million KRW range. Prices range from 434 million KRW to 529 million KRW, and even including balcony expansion fees, purchasing a home is possible within the 500 million KRW range. In particular, contract terms are 10% down payment, 60% interim payment, and 30% balance, with a 40% interest-free loan benefit on the interim payment, reducing financial burdens for buyers.

Located closest to Geomdan New City, residents can enjoy various living infrastructures and also benefit from Gimpo City’s living area, offering a double living zone. Therefore, future prospects and value are expected due to the halo effect from new town development.

Meanwhile, ‘Hillstate Bulo Forest’ is currently conducting first-come, first-served unit selection contracts for remaining units. Unlike general apartment subscriptions, this system allows anyone aged 19 or older to select and purchase remaining units regardless of home ownership, subscription savings, or residence area.