[Report] 40-Minute Express Bus to Seoul... Visiting 'Gyeyang Lotte Castle Park City'

Large Complex of 3,503 Households, High Preference Among Genuine Buyers
"Increase in Genuine Buyer Inquiries... Half of Contract Holders in Their 30s"
Strong Seoul Accessibility... Transportation Benefits Including Cheongra Extension Line

"As loan regulations have tightened, more genuine buyers are stepping forward to purchase new apartments. It is estimated that about 48% of the winners and contract holders are in their 30s."

Model of the complex set up at the Geyang Lotte Castle Park City model house (Photo by Han Jinju)

At the model house consultation desk of 'Gyeyang Lotte Castle Park City' in Hyoseong-dong, Gyeyang-gu, Incheon, visited on the 10th, inquiries from genuine buyers continued. With recent tightening of loan regulations making it difficult to buy older apartments, demand has gathered at the model house from those trying to secure highly preferred new constructions by utilizing interim payment loans.

"Secure New Constructions" Contracts Increasing

As real estate transactions in the metropolitan area have become active recently, contracts for this apartment have also been on the rise. A Lotte Construction sales official said, "The 59㎡ units are small-sized and highly preferred, with sales nearly complete, and the second phase, composed only of 84㎡ units, is in its final sales stage. Interest has increased as metropolitan apartment prices rose in July and August, and a considerable number of contracts have been made."

Gyeyang Lotte Castle Park City is a large-scale apartment complex under construction in the Hyoseong District Urban Development Project, consisting of a total of 3,053 households. Phase 1 comprises 20 buildings from basement level 2 to ground level 26, with units ranging from 59 to 108㎡ totaling 1,964 households. Phase 2 consists of 10 buildings from basement level 2 to ground level 25, with 1,089 units of 84㎡. Move-in is scheduled for November 2027.

Keyang Lotte Castle Park City Model House 84㎡A Type Living Room View (Photo by Han Jinju)

The complex's location in the old city area and the ability to utilize existing infrastructure made it highly preferred by residents living in Incheon. A sales official explained, "More than 70% of the contract holders are genuine residents of Incheon, mainly those considering residential stability. The preference for new apartments remains strong, and there is a perception that the price range offers a safety margin compared to older apartments."

The sale price of Gyeyang Lotte Castle Park City averages around 19 million KRW per 3.3㎡. The prices range from 447.48 million to 517.12 million KRW for 59㎡ units, 587.24 million to 678.86 million KRW for 84㎡ units, and 686.20 million to 790.32 million KRW for 108㎡ units. Looking at actual transaction prices of new apartments near Jakjeon Station, a station in the vicinity, 59㎡ units are in the low 600 million KRW range, and 84㎡ units are in the mid to high 700 million KRW range.

Strong Seoul Accessibility

Compared to other areas in Incheon, the strong accessibility to Seoul is another factor attracting genuine buyers. Gyeyang Lotte Castle Park City is about a 5-minute drive and approximately 15 minutes by bus to Jakjeon Station on Incheon Line 1. The BRT (Bus Rapid Transit) allows a direct trip to Hwagok Station in about 40 minutes. Lotte Construction plans to donate three shuttle buses to residents at the time of move-in, which is expected to make commuting and school travel much easier by bus.

The transportation infrastructure is expected to improve further. A sales official said, "The 4th National Railroad Network Plan includes the construction of the Daejang-Hongdae Line (Hongdaeipgu Station to Bucheon Daejang) and is reviewing the extension to Cheongna. Incheon City has also proposed concretizing the construction of the Cheongna extension line in the 5th National Railroad Network Plan," adding, "If the Cheongna extension line is built, Hyoseong Station may be located in front of the complex."

A view of the living room of the 108㎡B type at the Gyeongyang Lotte Castle Park City model house. It is designed as a three-sided open tower type. (Photo by Han Jinju)

Forest Complex Surrounded by Cheonmasan and Ichon Park

This apartment complex will become a forest area surrounded by Ichon Park (tentative name), which is about the size of 11 soccer fields. Lotte Construction will create and donate a park with plazas, gardens, and waterfront spaces surrounding the complex. The model house visited is located on a public office site where a community center and fire station will be established.

Schools are also located close to the complex. Phase 2 is a 6-minute walk to Hyoseongseo Elementary School, and Phase 1 is 14 minutes away from Hyoseong Elementary School. Additionally, Bukincheon Girls' Middle School, Hyoseong Middle School, and Hyoseong High School are all within a 1 km radius.

The alpha room provided in the 108㎡B type at Gyeyang Lotte Castle Park City. By selecting a paid option, you can arrange a glass sliding door and showroom-style system furniture to use it as a spacious dressing room. (Photo by Han Jinju)

The complex is oriented southward and southwestward toward Cheonmasan. The 84㎡ unit at the model house was a 4-bay layout with three rooms. In the 84㎡ Type A, the pantry space between the living room and kitchen can be used as a room or opened up for a more spacious feel. The 108㎡ Type B is a three-sided open tower type with cross ventilation possible. The 108㎡ Type B offers a dressing room and an additional alpha room. Paid options include glass sliding doors and showroom-style furniture, which allow for a more spacious dressing room, an option likely to satisfy female buyers.