High Increase in Sale Prices... Demand for Commercial Facilities in Gyeonggi and Incheon New Towns Rising
Recently, due to rising costs of materials and other factors, not only apartments but also commercial facilities are being supplied at high sale prices, resulting in low profitability for commercial facilities. Consequently, investors from Seoul are turning their attention to commercial facilities in Gyeonggi and Incheon, where sale prices are relatively reasonable.
In particular, they are focusing on preparing portfolios centered on commercial facilities located in new towns. Since these new towns have large-scale residential complexes as their hinterland demand, it is easy to secure stable demand. Moreover, as new apartments are built in new towns, the influx of the economically active 30-40 age group with strong purchasing power leads to the emergence of various business types and the potential activation of commercial districts.
Additionally, new towns have abundant living infrastructure such as transportation, school districts, and shopping, and because they are developed systematically and planned, they offer the advantage of comfortable residential life. Representative new towns include Geomdan New Town in Incheon and Godeok New Town in Pyeongtaek, Gyeonggi.
‘Geomdan New Town Nextiel Complex Cultural Commercial Facility’ Selling Commercial District, Not Just Commercial Facilities
Meanwhile, Lotte Construction has opened a promotional center for the ‘Geomdan New Town Nextiel Complex Cultural Commercial Facility’ in Geomdan New Town, attracting continued interest from major investors in Seoul.
First, the ‘Geomdan New Town Nextiel Complex Cultural Commercial Facility’ has abundant hinterland demand. Within a 2.5 km radius, about 40,000 households are located, including ‘Kumho Eoullim Central’ (1,452 households), ‘Woomeerin The Signature’ (1,268 households), and ‘Yemiji Triple Edu’ (1,249 households). Most of these complexes have completed move-in (100% based on phase 1), so rapid activation after completion is expected.
Also, about a 5-minute walk away, the Incheon District Court and Incheon District Prosecutor’s Office are scheduled to open in 2026, which is expected to create synergy effects. Additionally, a waterfront path and waterfront park will be developed around the nearby Gyeyangcheon stream, offering a pleasant environment as a key advantage.
Furthermore, the ‘Geomdan New Town Nextiel Complex Cultural Commercial Facility’ boasts convenient transportation. Nearby, the new station (Station 101) on the Geomdan Extension Line of Incheon Subway Line 1 will open in 2025. The Geomdan Extension Line connects Gyeyang Station and Geomdan New Town over 6.9 km, with a total of three new stations (Stations 101, 102, and 103) being established.
The basement level 2 of the commercial facility will be directly connected to the new station (Station 101), transforming it into a prime commercial facility with ultra-station area advantages. Moreover, with transportation benefits such as the planned Incheon Subway Line 1, the regional value is continuously increasing.
Synergy effects as a complex cultural commercial facility are also anticipated. It will be developed as the largest single complex facility in Geomdan New Town, featuring seven themed zones encompassing shopping, culture, and leisure. The development will include essential facilities such as a cultural center, multiplex cinema, bookstore, kids theme park, sports theme park, convention center, and healthcare center.
A sales representative stated, “This complex cultural commercial facility is being marketed under the slogan of selling a commercial district rather than just a commercial facility, offering themed commercial spaces that have not been available before,” expressing confidence in its scale and location.
They added, “Moreover, since this commercial facility is supplied early in the new town’s development, it is not a commercial district seeking demand but rather one that adds ‘eyes’ to an already established commercial district, which is expected to further heighten interest.”
The promotional center for the ‘Geomdan New Town Nextiel Complex Cultural Commercial Facility’ is currently operating.
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