Last Private Sale Complex Among 4-Phase Project Sites
Sale Price About 30 Million KRW Cheaper Than Nearby Complexes
"Prices Likely to Rise More by Move-In Time in 3 Years"
Parents Praise Proximity to Planned Kindergarten and Elementary School Sites
Over 1km from Subway Station, Difficult to Access on Foot
"I think the apartment prices at the time of move-in three years from now will be higher than the sale prices. We live in Geomdan New Town, and even the price of the flagship 30-pyeong apartment in the Phase 1 project area is more expensive than the sale price here." (Couple living in Geomdan, Incheon)
Visitors at the Familier Elif model house in Geomdan New Town, Incheon, on the 27th are looking around the scale model. Photo by Hanjin Joo
Visitors to the model house of 'Geomdan New Town Familier Elif,' the last private sale apartment in the Phase 4 project area of Geomdan New Town, cited the sale price as an advantage. Since the sale price ceiling system is applied, and the price was set at least 25 million KRW cheaper for the standard 84㎡ unit compared to other nearby complexes that were previously sold.
On the opening day of the 'Geomdan New Town Familier Elif' model house on the 27th, a variety of prospective buyers ranging from young couples in their 30s to middle-aged and older people in their 50s and above were touring the units and receiving consultations. Some actual buyers carefully inspected the interiors of the units and inquired about the availability of options.
Mid-500 million KRW for Standard 84㎡ "Lowered Sale Price Margin"
Geomdan New Town Familier Elif consists of 11 buildings ranging from 3 basement floors to 15 above-ground floors in the AA32 block of Geomdan New Town (398-2 Majeon-dong area), with a total of 669 households ranging from 64 to 110㎡ in exclusive area. The sale price is set at 541 million to 569 million KRW for 84㎡ units, and 627 million to 668 million KRW for 98㎡ units. The penthouse units of 110㎡ are priced between 892.5 million and 954.2 million KRW.
A sales representative said, "Considering the poor real estate market and the burden on actual buyers due to the implementation of Stress DSR Phase 2, we lowered the margin to increase the sales rate. There are not many places in the metropolitan area where you can buy an 84㎡ unit for around 500 million KRW." He added, "For the 64㎡ units, which have three-sided balconies and include service areas, the size is similar to 30-pyeong units, so we expect many actual buyers to be interested. The standard 84㎡ units are also expected to be highly preferred."
A woman in her 30s from Gurye-dong, Gimpo, said, "Since the sale price ceiling system is applied, the sale price is relatively reasonable. I plan to apply for the 84㎡ unit." She explained, "It's unfortunate that there are no commercial facilities or surrounding infrastructure yet, but there is a planned school site near the complex, so I think it will be good when sending my child to school."
A woman in her 40s living in Dongdaemun-gu, Seoul, said, "I'm debating whether to catch the last chance for Geomdan subscription. Housing prices in Seoul are too high, with even 25-pyeong units exceeding 1 billion KRW easily, and since my children will soon graduate from high school, I am considering applying for a 30-pyeong unit as a place to live in retirement."
Geomdan New Town is a second-phase new town with a planned population of 187,000 and a total area of 11.1 million square meters. It is developed in five phases, with private sale complexes such as e-Pyeonhansesang Geomdan Ecovista (scheduled for move-in July 2026) and Geomdan New Town Prugio The Park (scheduled for move-in December 2027) in Phase 4. Geomdan New Town Familier Elif is the last private sale complex in Phase 4, excluding public rental housing, and is scheduled for move-in in July 2027. The Majeon-dong area, the Phase 4 project site, is distant from the completed Geomdan New Town, making it difficult to share the same living area.
A sales representative explained, "Most private sales have been completed, and the sites planned for sale near Geomdan Hosu Park Station are expected to receive land use approval by the end of 2026 to 2027, so supply will be possible only two years later, and prices will likely rise." He added, "There were no 64㎡ units supplied in complexes in this area before, so offering a variety of unit sizes from small to large adds rarity."
Elementary School Site Planned Right in Front of the Complex... Walking to Subway Difficult
Actual buyers highly evaluated the fact that kindergarten and elementary school sites are planned next to the complex. However, whether the schools will be established depends on the education office's decision on the opening time, so there is a possibility of change. A couple living in the Phase 1 area of Geomdan said, "We have kindergarten and elementary school children, and since the schools and kindergarten are close to the complex, we are considering applying for the 98㎡ unit with the intention of living there with our children."
The Phase 4 site is located in the southwestern outskirts of Geomdan New Town, making it difficult to walk to the subway station. The extension of Incheon Line 1 to Geomdan Hosu Park Station is scheduled to open next year, but it is about 1.3 km away from the complex. Subway Line 2 stations Majeon and Wanjeong are near the complex but require about a 15-minute walk. The surrounding area has waterfront parks and neighborhood parks, providing a pleasant residential environment.
The model house had 84㎡A and 98㎡A type units available. The 84㎡A type features a 4-bay layout with a pantry opposite the entrance shoe cabinet and an alpha room space between the kitchen and living room. The alpha room is provided as standard, and if a paid option is selected, it can be used as a pantry or home bar. The master bedroom includes a powder room and dressing room.
The 98㎡A type features a 4-bay layout with three-sided open bedrooms. The length from the bedroom wall to the dressing room is 8 meters on three sides. If the dressing room is not selected as a paid option, it can be used as a study or other space. The alpha room next to the kitchen is spacious, measuring 2.7m by 4.0m, enough to fit a bed. If a paid option is selected, it can be used as a pantry, etc.
A sales representative said, "Not only residents of Incheon but also newlyweds commuting to Gangseo and Magok frequently visit Geomdan. During the Phase 1 supply, many people from other areas moved in, causing many ownership changes." He added, "Recently, many new towns in the metropolitan area offer units in the mid-600 million KRW range, so the sale price is the biggest advantage."
The number of households by unit type in Geomdan New Town Familier Elif is 213 units of 64㎡, 255 units of 84㎡, 193 units of 98㎡, and 8 units of 110㎡ (duplex penthouse). The subscription schedule starts with special supply on the 30th, followed by first priority on the 31st, and second priority on January 2 of next year. The announcement of winners is on January 8 next year, and the official contract period is from January 19 to 21 next year.
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