It is a well-known fact that among the positive factors in the real estate market, the transportation environment has the greatest impact. Among these, the opening of new road networks also contributes to value appreciation, as easier access to other areas along the new roads increases foot traffic, leading to the establishment of convenience facilities and significantly improving the residential environment, thereby driving up housing prices in the area.
In fact, the opening of the Seoul-Munsan Expressway in November 2020 has generally led to an upward trend in the real estate markets of Paju and Goyang cities. This is analyzed to be because the improved accessibility to Seoul due to the expressway opening has increased the number of people moving from expensive Seoul homes to Paju or Goyang.
According to KB Real Estate Price Data, the apartment prices in Paju were only 279.03 million KRW in November 2019, one year before the opening, but rose to 334.55 million KRW in November when the expressway opened. Similarly, in Goyang, prices rose from 370.5 million KRW in November 2019 to 447.05 million KRW at the time of the opening, increasing by tens of millions of KRW in a short period.
The opening of new road networks also positively affects subscription performance. For example, in January this year, ‘Hoban Summit Granville 2nd Phase’ in Osan Segyo 2 District, Gyeonggi Province, which directly connects Osan Segyo District and Dongtan 2 New Town through the planned Pilbong Tunnel and Geumo Tunnel connecting Osan downtown area, attracted attention due to the new road openings and recorded an average competition rate of 29.8 to 1 in the first-priority subscription.
An industry insider said, “When transportation conditions improve through new road projects, the influx of external population becomes smooth, revitalizing the local economy, which forms a high premium in the real estate market. Especially for complexes sold in the metropolitan area, if new road developments significantly improve accessibility to Seoul, it can satisfy both convenience of living and high investment returns, so high interest is expected.”
Meanwhile, ‘Geomdan New City Geumgang Pentarium 3rd Phase Central Park,’ scheduled for sale in March next month in Geomdan District, Bullo-dong, Seo-gu, Incheon, is also attracting attention as a complex that will greatly benefit from new road traffic such as the Wondang?Taeri arterial road and Geomdan?Gyeongmyeong-ro.
Geomdan New City Geumgang Pentarium 3rd Phase Central Park is located in Geomdan District, Bullo-dong, Seo-gu, Incheon, and is a mammoth complex consisting of a total of 1,049 units with medium to large-sized floor plans: 386 units of 74㎡, 120 units of 84㎡A, 226 units of 84㎡B, 192 units of 98㎡A, and 125 units of 98㎡B.
[Geumgang Pentarium 3rd Central Park Perspective View in Geomdan New Town (Provided by Geumgang Housing)]
The Wondang?Taeri arterial road, which can be accessed immediately upon leaving the complex, is scheduled to open around 2024. This road starts from the old Wondang-dong and ends at Nooji-dong, Gyeyang-gu, and is currently under construction as a 3.59 km long, four-lane road. Once completed, the Wondang?Taeri section will connect Dream-ro and National Road 39, significantly reducing travel time from Geomdan New City to the Gochon IC entrance/exit on the Olympic-daero direction of Seoul, making it possible to reach Yeouido, Seoul within 30 minutes.
Additionally, the Geomdan?Gyeongmyeong-ro road construction connects the southern part of Incheon Geomdan New City with Incheon Airport Expressway and Gyeongmyeong-daero. It is a 4.09 km long, four-lane road scheduled for completion in March 2026. Upon completion, a road network connecting Geomdan New City with Seoul, Ilsan, Bucheon, and other areas will be formed, greatly improving transportation convenience.
Besides new roads, Geomdan New City, where the complex is located, is also supported by a solid railway network, with the planned extension of Incheon Subway Line 1 to Geomdan Station 102 (tentative name) and the GTX-D line.
Meanwhile, the model house for the complex is scheduled to open in March.
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