- High Preference for Apartments Near Trunk Bus Rapid Transit (BRT)
- ‘Gongju Wolsong District Gyeongnam Honorsville’ to Be Supplied Within Walking Distance of Gongju~Sejong BRT (Planned)
Apartments near Bus Rapid Transit (BRT) stops on main routes are experiencing high residential preference, much like ‘subway station areas,’ leading the rise in housing prices.
BRT is a public transportation system operating on dedicated lanes, offering improved punctuality and capacity. To alleviate traffic congestion and reduce travel times in metropolitan areas, the government enacted the BRT Special Act in 2014, and through national funding support, the areas benefiting from BRT are expanding. According to the Metropolitan Transportation Committee, 28 BRT lines are currently in operation nationwide, with additional lines such as Gongju~Sejong BRT underway.
The concept of BRT in Korea became prominent in the 2000s with the reorganization of Seoul city buses and the introduction of bus-only lanes. Since then, BRT systems have been established and gained popularity in areas including Dongtan New Town in Gyeonggi, Guri, Namyangju, Hanam, Goyang, and Pyeongtaek.
However, BRT solidified its image as a ‘transportation revolution’ alongside the birth of Sejong City. Opened in April 2013 and now over 10 years old, the Sejong BRT (Barota) operates multiple BRT lines centered around Hannuri-daero, which circulates within Sejong City.
The reason BRT attracts attention in the real estate market is that it serves as an alternative transportation mode to subways in the region. Consequently, apartments close to BRT stops have strong demand and increased asset value. For example, ‘Gaon 12 Complex The Highest’ in Dajeong-dong, Sejong City, which moved in February 2018 and is now in its 6th year since completion, is located right in front of a BRT stop. The 84㎡ units were traded at around 530 million KRW immediately after completion but steadily increased, reaching a record high of 1.1 billion KRW in December 2020, two years later.
In contrast, apartments in Gaon 6 Complex, also in Dajeong-dong but farther from the BRT stop, recorded a 84㎡ unit price high of 985 million KRW at the end of 2021. Although this complex was also completed in April 2018, the price gap widened significantly depending on proximity to the BRT.
An industry insider said, “Compared to subways and railways, which require large investments, BRT can be operated at relatively low cost and within a short project period, so it is expected to be actively used as a mode of transportation for citizens in many places in the future.” He added, “The real estate market, including apartments and commercial areas near BRT routes and stops, is also expected to grow further.”
Meanwhile, ‘Gyeongnam Honorsville in Gongju Wolsong District,’ scheduled for supply in January in Wolsong-dong, Gongju City, Chungnam Province, is attracting attention. It will be developed as a complex of 366 households, all in a single 84㎡ unit type, near a new BRT stop.
The Gongju~Sejong BRT, scheduled to open in 2025 within walking distance of the complex, will significantly improve transportation infrastructure. In particular, residents can share Sejong’s central living infrastructure, enjoying the ‘Sejong living zone’ premium.
Additionally, the Seoul (Pocheon)~Sejong Expressway, accessible conveniently via Seo-Sejong IC, is also scheduled to open by the end of 2025. Known as the second Gyeongbu Expressway, it is expected to greatly improve access to the metropolitan area.
The educational environment is also well established. Children of residents will be assigned to Sinwol Elementary School right in front of the complex, ensuring a safe walking school zone, and the Miracle Library is nearby, providing a pleasant educational environment. Furthermore, Gongju Kyunghee Oriental Medicine Hospital, the community center, Daejeon District Court, and Gongju General Bus Terminal are close by, and Sejong City is reachable within 10 minutes, making large marts such as Sejong Costco, E-Mart, and Homeplus conveniently accessible.
A sales official stated, “The Wolsong District, where the complex is located, is subject to the price ceiling system, so it will be supplied at a reasonable price. Additionally, with the upcoming Wolsong 2 District urban development project, about 6,500 households will be built in this area, transforming it into a new residential district.” He added, “With the establishment of a new BRT line, the area will become even closer to the Sejong living zone, and with a planned stop within walking distance, residents can enjoy the BRT premium nearby, raising expectations for high future value.”
Meanwhile, the model house for Gyeongnam Honorsville in Gongju Wolsong District will be located in Geumheung-dong, Gongju City, Chungnam Province.
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