Hyundai Construction Responsible Completion 'Hillstate Yangju Okjeong Patio Foret' in Okjeong District, Yangju, Gyeonggi, Successfully Contracting
Yangju City in Gyeonggi Province has seen its population increase by more than 20% over the past decade.
According to data from Statistics Korea, as of January 2023, Yangju's population stood at 245,451, marking a 22.5% increase compared to 200,328 in January 2013. This growth rate is among the highest in the northern Gyeonggi region, alongside Paju and Namyangju, and is nearly double the overall Gyeonggi Province average growth rate of 12.3%.
The population influx and growth in Yangju are attributed to ongoing regional development projects, including transportation improvements such as the GTX and Subway Line 7 extensions, positioning Yangju as a representative hub in northern Gyeonggi. In fact, Yangju City is actively pursuing plans across economic, educational, and cultural sectors to transform into a metropolitan city with a population of 500,000.
In June last year, Yangju City received final approval from Gyeonggi Province for its ‘2035 Urban Master Plan.’ This plan is a legally mandated top-level plan outlining the city’s future vision and long-term development strategies. It serves as a roadmap for urban development, providing fundamental directions for spatial planning as well as all other policy and plan formulations.
Through this roadmap, Yangju has set four major goals: a mutually prosperous city, a future growth city with a revitalized economy, a cultural welfare city enjoyed by all, and a clean and beautiful green tourism city. Based on these goals, the target population for 2035 is set at 504,000.
To achieve this, Yangju has established transportation plans including the GTX-C line, the extension of Subway Line 7, the suburban railway line (Gyooeseon) which is part of the metropolitan circular railway network, and the Metropolitan Area 2nd Ring Expressway. Additionally, plans to activate public transportation through a Bus Rapid Transit (BRT) system have been formulated. Currently, construction is underway to open the Subway Line 7 extension from Dobongsan to Okjeong by the end of 2026, and the basic plan for the Okjeong to Pocheon line was approved last October. The GTX-C line has also completed the preferred negotiation and implementation agreement stages. Other projects such as the reopening of the Gyooeseon line connecting Neunggok, Yangju, and Uijeongbu, and the construction of the Seoul-Yangju Expressway are included in the urban master plan.
The plan also includes establishing new growth infrastructure such as the Yangju Techno Valley and station area development projects to secure future growth engines and revitalize the local economy. It involves creating the Eunnam General Industrial Complex, the Hoecheon Urban High-tech Industrial Complex, and building the Northern Gyeonggi Business Center to serve as a control tower for advancing the industrial structure in northern Gyeonggi. Job creation through startup support is also part of the plan.
Furthermore, aiming for a green tourism era, the plan sets forth strategies to expand tourism infrastructure in preparation for future demand from tourists in a potential era of North-South Korean unification. It includes developing various types of accommodation facilities to broaden the foundation for stay-type tourism. The plan also explores utilizing existing tourism resources such as Art Valley, the reclamation of abandoned quarries for tourism, and the Jangheung Film Shooting Site. It envisions creating resort-style silver towns and developing specialized tourism programs for the elderly, outlining a desirable future vision and development direction.
With these diverse developments included in Yangju’s announced plans, interest in the local real estate market has recently surged. According to a real estate official from Okjeong New Town in Yangju, over 200 pre-sale rights were traded in a single apartment complex within the past three months. This is analyzed as buyers actively purchasing in anticipation of multiple development benefits such as the Subway Line 7 extension and GTX opening.
According to the Ministry of Land, Infrastructure and Transport’s actual transaction price system as of early February, more than 200 pre-sale rights have been traded in the ‘Yangju Okjeong New Town D Complex’ since November last year. Nearby newly built complexes are also experiencing active transactions. The ‘Okjeong P Complex’ in Okjeong-dong, with 1,140 households, recorded 33 transactions from November last year to the present.
Amid this, the ‘Hillstate Yangju Okjeong Patio Foret,’ supplied in the Okjeong district of Yangju New Town, is attracting considerable attention from prospective buyers.
First, ‘Hillstate Yangju Okjeong Patio Foret,’ for which Hyundai Construction is responsible for completion, offers various financial benefits. Pre-sale rights can be resold, and buyers can receive up to two mid-term loans. The Loan-to-Value (LTV) ratio is 70% for those without a home and 60% for one-home owners, reducing financial burdens. Additionally, the complex supports interest-free loans for a 5% down payment and offers a fixed mid-term interest rate of 4.5% on 50% of the payment.
According to a geomancer, Hillstate Yangju Okjeong Patio Foret is situated in a prime location shaped like a golden chicken egg, which is considered highly valuable. Located in the Okjeong district, it is convenient to access abundant residential infrastructure. Elementary, middle, and high schools are nearby, and the adjacent central commercial area includes a movie theater, various restaurants, and convenience facilities. Large marts and shopping malls such as E-Mart, Lotte Mart, and LF Square are also easily accessible, making it very convenient to use.
Hillstate Yangju Okjeong Patio Foret is a large-scale block-type detached housing complex in the Okjeong district, consisting of 809 households with exclusive areas of 84㎡, spanning from one basement floor to three above-ground floors, and covering approximately 50,000 pyeong of land.
Meanwhile, the Hillstate Yangju Okjeong Patio Foret model house is currently open to the public.
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