The Paju real estate market is gaining renewed attention as significant development benefits continue to emerge ahead of the opening of the GTX-A line. Recently, with the revival of the metropolitan area’s housing market due to regulatory easing and other factors, there are signs of movements to secure beneficiary complexes throughout the area.
In fact, as the opening of the GTX A line, which stops at Paju Unjeong Station, approaches next year, nearby complexes are rapidly gaining attention. Once the line opens, the transportation network in the area is expected to be dramatically improved, enabling travel from Paju Unjeong Station to Seoul Station in about 20 minutes. The opening schedule targets the Suseo-Dongtan section in the first half of 2024 and the Paju Unjeong-Seoul Station section in the second half of 2024.
As demand to benefit from GTX continues, price increases are also appearing in newly built complexes in Paju City. According to the Ministry of Land, Infrastructure and Transport’s actual transaction data, the 84㎡ unit of ‘Unjeong New Town Central Prugio’ (occupied in July 2018) in Paju Unjeong New Town was traded for 670 million KRW in March this year, up 60 million KRW from the actual transaction price of 610 million KRW in January, just two months earlier.
Along with this, in Tanhyeon-myeon, Paju City, the development of the Tongildongsan District, which had been left undeveloped for a long time, is becoming visible and attracting attention. In particular, on March 13, the district unit plan (draft) prepared by Paju City was conditionally accepted, and the building density (floor area ratio and number of floors) and permitted uses for accommodations and other buildings are expected to be relaxed. Accordingly, the tourism industry in the Tanhyeon-myeon area is expected to grow significantly, leading not only to regional economic revitalization but also to the expansion of infrastructure.
Meanwhile, the government’s successive regulatory relaxations and the designation of the entire Paju City area as a non-regulated zone at the end of last year have also raised expectations for the local real estate market. According to data from the Korea Real Estate Board, apartment transactions in Paju City totaled 2,592 in December 2022, more than 12 times the 207 transactions recorded three months earlier in September. Furthermore, with the lifting of resale restrictions starting this year, the Paju housing market is expected to gradually regain momentum.
Accordingly, recently, the number of buyers paying close attention to complexes near development benefits has significantly increased. A representative complex is DL Construction’s ‘e-Pyeonhansesang Heyri.’
The complex is located in the Tanhyeon-myeon area where the Tongildongsan District is being developed, and it is expected to enjoy an improved residential environment in the future. In particular, according to the results of the redevelopment service, green areas that do not meet legal standards are scheduled to be changed to buffer green zones, promising a pleasant living environment. Additionally, nearby are many tourism facilities such as Odusan Unification Observatory, Heyri Village, and Kartland, so the development project in the Tongildongsan District is expected to have a significant synergy effect.
e-Pyeonhansesang Heyri is supplied at a lower price than newly launched complexes nearby, and balcony expansion costs are provided free of charge, making it highly attractive in terms of price. Also, only half of the 10% down payment, i.e., 5%, needs to be paid upfront, and the remaining 5% can be financed with an interest-free loan, reducing the financial burden. Since full interest-free loans are available for intermediate payments and the first contract payment is fixed at 5 million KRW, there is no interest burden even during periods of rising interest rates.
e-Pyeonhansesang Heyri will be built with 8 buildings ranging from 3 basement floors to a maximum of 25 floors above ground, totaling 1,057 households with a net area of 84㎡. It is currently being sold on a first-come, first-served basis, allowing buyers to select their preferred building and unit number, and contracts can be made regardless of subscription savings account status, residence area restrictions, or home ownership.
A sales representative for e-Pyeonhansesang Heyri stated, “Tanhyeon-myeon, where e-Pyeonhansesang Heyri is located, has various development benefits centered around the nearby Tongildongsan District, and the benefits from the opening of the GTX-A line can also be expected, making its future value outstanding. In particular, as Paju’s real estate market is gradually gaining momentum recently, inquiries about the complex continue to increase.”
Meanwhile, e-Pyeonhansesang Heyri plans to hold a prize event for visitors to the housing exhibition center on March 26 (Sunday) and April 2 (Sunday). Customers who visit the housing exhibition center and enter the draw will have a chance to win various prizes, including △1st prize: Dyson hairdryer (1 winner) △2nd prize: Cuckoo cordless vacuum cleaner (1 winner) △3rd prize: Hurom juicer (1 winner) △4th prize: Tefal multi set (3 winners) △5th prize: Shinsegae gift certificate worth 30,000 KRW (5 winners).
The move-in for e-Pyeonhansesang Heyri is scheduled for May 2025.
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