5-Minute Walk to Station, 'Deokso Station Raon Private Riverforet' Scheduled for November Sale

- One in Two People Nationwide Lives in the Seoul Metropolitan Area... Traffic Congestion Worsens Due to Overpopulation
- Increasing Demand for Apartments Near Stations Drives Clear Rise in Housing Prices... Focus on Deokso New Town

As the overpopulation of the Seoul metropolitan area continues to worsen, the value of apartments near subway stations is rising even more.

According to the Ministry of the Interior and Safety, the population proportion of the Seoul metropolitan area exceeded 50% for the first time in history in 2019. This means that one out of every two people in South Korea resides in the metropolitan area. Since then, the population density has intensified annually, with 50.2% in 2020, 50.4% in 2021, 50.5% in 2022, and 50.7% in 2023.

The overpopulation in the metropolitan area is leading to traffic congestion. According to a social survey in Gyeonggi Province, more than 70% of Gyeonggi residents use vehicles (passenger cars, buses, taxis) for commuting and school travel. As the population in the metropolitan area continues to increase, it is analyzed that traffic congestion problems will also grow further in the future.

In this situation, apartment prices near subway stations in the metropolitan area are soaring. The main reason is the increased housing demand for subway station apartments due to fatigue caused by overpopulation and traffic congestion.

According to the Ministry of Land, Infrastructure and Transport’s actual transaction prices, the actual transaction price of ‘Hwaseo Station Park Prugio,’ within walking distance of Hwaseo Station on Subway Line 1, recorded 1.3 billion KRW (17th floor) in August this year for an 84㎡ unit. This is 200 million KRW higher than the 1.1 billion KRW (29th floor) recorded a year ago. In the same month, ‘Jukhyun Village Dongwon Royal Duke,’ within walking distance of Jukjeon Station on the Suin-Bundang Line, also recorded 930 million KRW (5th floor) for an 84㎡ unit, about 100 million KRW higher than the 840 million KRW recorded a year ago.

Meanwhile, a new subway station apartment in the metropolitan area is attracting attention as it is about to be launched. The large-scale apartment complex ‘Deokso Station Raon Private Riverforet,’ located in the center of Deokso New Town in Namyangju, is scheduled for sale in November.

‘Deokso Station Raon Private Riverforet’ is located in Deokso-ri, Wabu-eup, Namyangju-si, Gyeonggi Province (Deokso 2 District Housing Redevelopment Project), consisting of 10 buildings from 3 basement floors to 29 aboveground floors, with a total of 999 units. Among them, 348 units of 59㎡, 84㎡, and 114㎡ will be offered for general sale.

‘Deokso Station Raon Private Riverforet’ is about a 5-minute walk from Deokso Station, where the Gyeongui-Jungang Line and KTX pass. Using the Gyeongui-Jungang Line, it takes about 20 minutes to reach Cheongnyangni Station in Seoul, and by transferring at Guri Station on the newly opened Byeollae Line extension of Line 8, it takes about 30 minutes to reach Jamsil Station in Seoul. Additionally, Deokso Station is planned to be served by GTX-E and F lines, and the nearby Wangsuk 2 District is undergoing the Line 9 extension project (scheduled for 2031), so accessibility to the metropolitan area and Gangnam is expected to improve further in the future.

Transportation by car is also convenient. In particular, ‘Deokso Station Raon Private Riverforet’ is evaluated as the place with the best accessibility to Seoul in Deokso New Town because Deokso-Sampae IC is located nearby. Deokso-Sampae IC allows quick access to Seoul-Yangyang Expressway, Seoul Ring Expressway, Northern Arterial Road, and Olympic-daero, enabling arrival at Gangdong-gu and Jamsil in Seoul within about 20 minutes. Due to these advantages, the residential value as an apartment enjoying Seoul living area is expected to increase further.

Deokso New Town, where ‘Deokso Station Raon Private Riverforet’ is located, is a redevelopment project in Deokso-ri, Wabu-eup, Namyangju-si, Gyeonggi Province, consisting of about 8,500 residential units and living convenience facilities across nine districts. The aging area is being transformed into a new residential area in the metropolitan area. Especially, ‘Deokso Station Raon Private Riverforet’ is the first sale complex in the center of Deokso New Town, raising expectations. The center of Deokso New Town is the five districts located north of Deokso Station, where the Gyeongui-Jungang Line and KTX pass.

Excellent living infrastructure is also noteworthy. ‘Deokso Station Raon Private Riverforet’ is expected to offer high residential convenience as a commercial area is within walking distance to the south. In addition, living convenience facilities such as Lotte Mart, Administrative Welfare Center, and Wabu Sports and Culture Center are also available. Moreover, access to Misa Riverside City via Misa Bridge is easy, allowing residents to enjoy the living infrastructure of Misa Riverside City, including Shinsegae Department Store and Starfield Hanam.

The differentiated educational environment also draws attention. First, ‘Deokso Station Raon Private Riverforet’ is located right next to Deokso Elementary School, with Wabu Middle School and Yebong Middle School also within walking distance. Additionally, Wabu High School and Deokso High School, regarded as prestigious schools in Namyangju, are nearby. Especially, since Wabu-eup, where this complex is located, belongs to the township high school district, it is possible to apply for the special rural and fishing village admission track for university entrance, which is expected to generate abundant housing demand mainly from parents.

The fact that it is in the Han River living area is also notable. ‘Deokso Station Raon Private Riverforet’ is an apartment in the Han River living area, with Han River Park Sampae District and Namyangju Riverside Citizen Park located within walking distance. Accordingly, some units can enjoy views of the Han River. The park includes bicycle paths along the riverside, baseball fields, and futsal courts, making it convenient for leisure activities. In addition, Deokso Retention Pond Ecological Park and Wolmuncheon Stream are nearby, and a children’s park of about 600 pyeong (approximately 1,983 square meters) is planned within the complex, promising a nature-friendly residential environment.

Residential specialization features also stand out. ‘Deokso Station Raon Private Riverforet’ plans to provide ample and spacious parking spaces, allowing 1.77 vehicles per household.

Meanwhile, the model house for ‘Deokso Station Raon Private Riverforet’ is scheduled to be set up in Inchang-dong, Guri-si, Gyeonggi Province.