Is the Geomdan New Town Real Estate Market Signaling a Rebound... 'Geomdan New Town Geumgang Pentarium 3rd Central Park'

- Geomdan New Town Geumgang Pentarium 3rd Central Park Model House Opens on the 10th... Welcoming Visitors
- Favorable Reviews for Reasonable Prices and Specialized Designs... A Signal for Incheon Real Estate Recovery?

Geumgang Housing Co., Ltd. opened the model house for 'Geomdan New Town Geumgang Pentarium Phase 3 Central Park,' which is being supplied in Geomdan New Town on the 10th, and began receiving visitors, officially entering the full-scale sales phase.

The model house of Geomdan New Town Geumgang Pentarium Phase 3 Central Park attracted numerous visitors during the three days from the opening to the weekend, demonstrating high interest.

[Visitors at the Geumgang Penterium 3rd Central Park model house in Geomdan New Town (Provided by Geumgang Housing)]

'Geomdan New Town Geumgang Pentarium Phase 3 Central Park' is located in Geomdan New Town, Seo-gu, Incheon, and will be developed as a large complex consisting of 10 buildings with a total of 1,049 households, ranging from three basement floors to a maximum of 25 floors above ground. It is the successor complex to ‘Geomdan Station Geumgang Pentarium The Siglo Phase 1,’ which recorded the highest competition rate in Geomdan New Town in 2021, and the consecutively successful ‘Geomdan Station Geumgang Pentarium The Siglo Phase 2.’

The number of units by type consists of highly preferred medium to large sizes: ▲74㎡ with 386 units ▲84㎡A with 120 units ▲84㎡B with 226 units ▲98㎡A with 192 units ▲98㎡B with 125 units.

The complex is a multi-zone complex equipped with excellent transportation, education, living infrastructure, and a pleasant natural environment. The transportation infrastructure is the most noticeable. A new station (Station 102) on the extension of Incheon Line 1 is planned nearby, and the Western Metropolitan Express Railway (GTX-D) line is also planned to be constructed in the vicinity. It is also easy to travel to various parts of the metropolitan area via the Metropolitan Area 1st Ring Expressway and Gimpo Hangang-ro.

Upcoming roads are also noteworthy. Projects such as Dream-ro to National Road 39 (planned), Geomdan to Gyeongmyeong-ro road (planned), and Wondang to Taeri wide-area road (planned) are underway. Along with this, the completion of the Metropolitan Area 2nd Ring Expressway, targeted for 2026, will improve accessibility not only to the entire metropolitan area but also to northwestern Seoul areas such as Magok, Yeouido, and DMC (Digital Media City).

Excellent educational conditions for children are also provided. A kindergarten is located within walking distance of the complex, and a daycare center will be established within the complex. Additionally, sites for elementary, middle, and high schools (planned) are scheduled, making it a one-stop safe school commuting ‘Haksegwon’ complex where families with school-age children can raise their children without worrying about moving.

Furthermore, this complex is a representative ‘Gongsegwon’ apartment surrounded by green spaces on three sides. A large-scale neighborhood park and a children’s park (planned) will be developed right in front of the complex, promising a pleasant residential environment along with permanent green views (for some units). In particular, Hwanghwasan Mountain next to the apartment has been improved with decks and palm mat paths along the sloped hiking trails, transforming it into a resting place for residents and enhancing comfort.

The reasonable sale price also draws attention. The complex is a private housing subject to the price ceiling system supplied on public land in the metropolitan area, offered at the mid-400 million KRW range for the 84㎡ exclusive area. Moreover, the scarce 98㎡ exclusive area in the nearby region is supplied at the mid-500 million KRW range, expected to attract strong demand. The relaxation of regulations, which removes the condition of disposing of existing homes (for one-home owners) even if winning the subscription, is also an advantage.

Visitors especially praised the floor plans featuring Geumgang Housing’s unique specialized design. First, the high ceiling height stands out. The first floor has a ceiling height of about 2.5m, and other floors have about 2.4m, which is 10 to 30cm higher than the average ceiling height of most apartments in Korea.

Additionally, all types have three bedrooms, and the bedroom adjacent to the living room is constructed with a movable wall, allowing the living room space to be used much larger as needed, enabling residents to enjoy both the ‘wide design’ living room and bedroom simultaneously.

The subscription for Geomdan New Town Geumgang Pentarium Phase 3 Central Park will begin with special supply on March 13, followed by the first priority subscription on March 14 through the Korea Real Estate Agency’s subscription home. The winners will be announced on March 21, and official contracts will be accepted for five days from April 3 to 7.

The qualification requirements for first priority subscription are also low. Supply is available to residents of Incheon Metropolitan City, Seoul Special City, and Gyeonggi Province. If the subscription savings account has been held for more than one year (with deposit requirements met by region and area), first priority subscription is possible regardless of whether the applicant owns a home, and regardless of whether they are the head of household or a household member aged 19 or older, with no re-winning restrictions applied.

Even if the subscription score is low, for units under 85㎡ exclusive area, 40% are supplied by the point system and 60% by lottery, and for units 85㎡ and above, 100% are supplied by lottery, making it worth aiming for subscription success.

A sales official of the complex, which attracted numerous visitors, said, "Although there were many concerns due to the rapid cooling of the real estate market, we judged that excellent product quality combined with reasonable prices would be competitive even in the current market." He added, "Far more visitors came than expected. We will repay the support with sincere construction."

Meanwhile, at the model house of Geomdan New Town Geumgang Pentarium Phase 3 Central Park, a prize event is underway, offering gifts such as a Mercedes-Benz E-Class and LG Styler to subscription applicants.