Public Housing District with Price Competitiveness and Infrastructure 'Goyang Janghang Atera' Attracts Attention

- Systematic Development of Various Infrastructure in Public Housing Districts
- Price Competitiveness Highlighted Due to Application of Sale Price Ceiling System

Public housing districts are showing a distinctive presence in the sales market. Their price competitiveness due to the application of the price ceiling system and systematically established infrastructure are highlighted, attracting strong interest from buyers.

In fact, despite the overall contraction of the sales market, apartments supplied in public housing districts with the price ceiling system applied are receiving positive responses. According to Cheongyak Home, in April this year, the ‘Eliph Namwirye Station Eduforet’ in Seongnam Bokjeong 1 Public Housing District attracted 6,253 subscription accounts for 143 units excluding special supply, recording an average competition rate of 43.73 to 1 for the first priority. Earlier, in May last year, the ‘e-Pyeonhansesang Siheung Janghyeon First Venue’ supplied in Siheung Janghyeon Public Housing District, Gyeonggi-do, also completed subscriptions with an average first priority competition rate of 189.94 to 1.

The rate of increase in sale prices is also clear. According to KB Real Estate prices, the average sale price of the 84㎡ type in ‘DMC Hoban Verdiem The Foret 4 Complex’ located in Hyangdong Public Housing District, Goyang-si, Gyeonggi-do, surged from 640 million KRW in June 2019 to 835 million KRW in June this year, an increase of about 200 million KRW. Similarly, the 84㎡ type in ‘Galmae Station I-Park’ located in Guri Galmae Public Housing District rose significantly from 585 million KRW to 735 million KRW during the same period.

The primary reason for the popularity of public housing districts is their price competitiveness. According to the Housing and Urban Guarantee Corporation (HUG)’s report on private apartment sale price trends, the average sale price of private apartments in the metropolitan area in April this year surged 18% year-on-year to 26.03 million KRW per 3.3㎡. The combination of a high-interest rate environment and rising sale prices has increased the burden on buyers aiming to own a home, leading to growing interest in apartments subject to the price ceiling system.

Excellent residential environments are also cited as a factor for popularity. Public housing districts, designated and developed under public leadership, quickly and systematically provide various infrastructures such as schools, commercial facilities, and road networks. Based on these characteristics, residents can enjoy a high-quality living environment after moving in.

A real estate expert said, “As the sales market is reorganized around actual demand due to the real estate downturn, sales complexes in public housing districts that capture both price competitiveness and infrastructure are considered steady sellers. Especially, since significant price gains can be expected through price alignment with surrounding apartments after moving in, buyers planning to purchase a home should pay attention to public housing districts,” adding.

Meanwhile, interest from buyers in sales complexes within the public housing district of Janghang District is also rising. ‘Goyang Janghang Atera,’ the first project in Goyang City launched by Kumho Construction’s new residential brand ‘Atera,’ is the protagonist.

‘Goyang Janghang Atera,’ built by the Kumho Construction consortium in Area B of Janghang District, will consist of 8 buildings ranging from 2 basement floors to a maximum of 29 floors above ground, totaling 760 units. It is composed solely of the highly preferred 84㎡ exclusive type.

‘Goyang Janghang Atera’ boasts an excellent location. It is adjacent to Hallyu World, facilitating easy movement to neighboring areas, and convenient access to Janghang IC and Hallyu World IC via nearby Jayuro and 2nd Jayuro roads. Madu Station on Line 3 is just a 6-minute drive away, and the nearby Kintex Station (tentative name) on the GTX-A line is about to open, further improving accessibility to Seoul and adjacent metropolitan areas.

Education and living infrastructure are also noteworthy. Janghang Elementary School, scheduled to open this September, is located right in front of the complex, and sites for kindergartens, middle schools, and high schools are within walking distance. The nearby Baekma and Kintex academy districts also boast a high-quality educational environment.

Additionally, residents can enjoy diverse and high-quality living infrastructure such as Lotte Department Store Ilsan Branch, Hyundai Department Store Kintex Branch, Kintex, Lafesta, One Mount, Traders Home Sale, Costco Ilsan Branch, and Inje University Ilsan Paik Hospital. Based on its location between the Han River and Ilsan Park, the residential environment is pleasant and is expected to positively impact residents’ leisure activities.

The complex also has high future value. Major development projects such as the Goyang Ilsan Technovalley project, which encompasses innovative companies in bio-medical, media content, and advanced manufacturing fields, Gyeonggi Goyang Broadcasting and Video Valley, CJ Live City, and the construction of Kintex’s 3rd exhibition hall are underway around the complex. According to related organizations and media reports, about 92,000 jobs are expected to be created, which is anticipated to increase real estate value in the area due to the influx of housing demand.

Meanwhile, ‘Goyang Janghang Atera,’ as Kumho Construction’s first project in Goyang City after launching its new residential brand, offers differentiated product features. All units are mainly south-facing to maximize lighting and ventilation efficiency, various landscaping elements are introduced within the complex, and the ground level is designed as a car-free park-style apartment to enhance residential comfort.

It also has price merits. As a private sale complex within a public housing district, the price ceiling system is applied, so a reasonable sale price compared to surrounding market prices is expected. Given the rapidly rising sale price trend combined with difficult domestic and international conditions such as high inflation and high interest rates, it is expected to be a refreshing relief for buyers burdened with home ownership. Additionally, being a scarce private sale complex within Janghang District, it has a relatively lower subscription threshold compared to public sales, adding to its value.

The model house for ‘Goyang Janghang Atera’ is scheduled to be set up in Deogeun-dong, Goyang-si, Gyeonggi-do.