- Gwangju Station Attracting Demand Due to Proximity to Bundang and Pangyo
- GTX-D Development Plan, Improving Access to Gangnam
New residential facilities in the Gwangju area of Gyeonggi-do, which is regarded as an emerging residential area based on its proximity to Bundang and Pangyo and excellent access to Gangnam, are enjoying premiums worth hundreds of millions of won. At the same time, attention is focusing on the Gonjiam Station area, where a new urban development site is being supplied.
According to actual transaction price data from the Ministry of Land, Infrastructure and Transport, new residential facilities around Gwangju Station on the Gyeonggang Line are being traded with premiums exceeding 300 million KRW compared to the sale price.
The ‘e-Pyeonhansesang Gwangju Station’ complexes 2 and 4, which were completed in October and November 2016, were supplied at about 350 million KRW at the time of sale but have been traded for up to 710 million KRW, forming a premium of 360 million KRW.
In particular, ‘Gwangju Station Jayeon & Xi,’ a large complex of 1,031 households adjacent to Gwangju Station (completed in November 2021), recently recorded an actual transaction price of 780 million KRW, forming a premium of 340 million KRW compared to the sale price, establishing itself as a leading complex driving the local market prices.
Additionally, ‘Gwangju Station Woobang Iushel Complex 2’ (completed in September 2018), which is somewhat farther from Gwangju Station, also has a premium of about 220 million KRW, indicating that new residential facilities centered around Gwangju Station are enjoying premiums worth hundreds of millions of won.
Given this situation, demand is focusing on the Gonjiam Station area, a new urban development site located two stations away from Gwangju Station.
An industry expert said, “The warmth of the Gwangju real estate market, which has been spotlighted due to its proximity to Bundang and Pangyo, is expanding along with various favorable factors such as the development of new urban development sites and improved access to Gangnam due to the GTX development. As actual transactions with premiums worth hundreds of millions of won occur around Gwangju Station, a demand concentration phenomenon is expected toward the new residential area of several thousand households around Gonjiam Station.”
HDC Hyundai Development Company plans to launch ‘Gonjiam Station Central I-Park’ in December in the Gonjiam Station urban development area, continuing the momentum of the real estate market around Gwangju Station.
Located in the A1-2BL of the Gonjiam Station urban development zone in Gwangju City, ‘Gonjiam Station Central I-Park’ consists of four buildings ranging from two basement floors to 22 above-ground floors, with a total of 347 units sized between 84 and 110 square meters. ‘Gonjiam Station Central I-Park’ boasts the best location conditions within the new residential town of over 3,600 households being developed near Gonjiam Station, including the Gonjiam Station urban development district and the Sindae district, suggesting high future value.
‘Gonjiam Station Central I-Park’ is a super-station complex adjacent to Gonjiam Station on the Gyeonggang Line. In particular, it is the closest complex to Gonjiam Station within the Gonjiam Station urban development district currently under development, boasting excellent public transportation networks.
From Gonjiam Station, which is adjacent to ‘Gonjiam Station Central I-Park,’ it takes about 20 minutes to reach Pangyo Station via the Gyeonggang Line, and about 30 minutes to Gangnam.
Especially, with the Ministry of Land, Infrastructure and Transport planning the GTX-D line as part of the ‘Three Major Innovation Strategies in the Transportation Sector’ announced last January, the accessibility to Gangnam from ‘Gonjiam Station Central I-Park’ is expected to improve further.
The complex is conveniently located near Gonjiam IC, making highway access easy and facilitating convenient intercity travel by car.
‘Gonjiam Station Central I-Park’ offers a pleasant residential environment with Gonjiamcheon Riverside Park and Gonjiam Neighborhood Park located right in front of the complex.
Moreover, Gonjiam Elementary School, Gonjiam Middle School, and Gonjiam High School, located south of Gonjiam Station, are within walking distance, and a new elementary school is planned within the Gonjiam Station urban development district, providing an excellent educational environment.
A sales official for ‘Gonjiam Station Central I-Park’ said, “As it has the best location conditions within the Gonjiam Station urban development district, where over 3,600 households will be newly supplied, it is expected to establish itself as a representative residential facility in the area. With not only the existing Gyeonggang Line but also the anticipated opening of the GTX line improving access to Seoul, high demand from buyers is expected.”
The model house for ‘Gonjiam Station Central I-Park’ is scheduled to open in December in the Songjeong-dong area of Gwangju City, Gyeonggi-do.
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