GTX-A Changneung Station Scheduled to Open
Adjacent to Seoul-Munsan Expressway and Jayuro
Winners Announced Next Month, Contracts in May
Korea Land and Housing Corporation (LH) is starting the main subscription for the Goyang Changneung public housing site (site), which has high location competitiveness among the 3rd phase new towns. The sale price is about 100 million KRW higher than during the preliminary subscription, so there is a possibility that those who won the preliminary subscription may withdraw. However, compared to nearby housing prices and the sale price of Goyang Changneung, it is relatively affordable, and since it is located adjacent to Seoul, it is expected that real demand buyers will show strong interest.
◆ Goyang Changneung, 84㎡ sale price 770 million KRW = The Goyang Changneung site is being developed over an area of 7.89 million square meters in Wonheung-dong, Dongsan-dong, and Yongdu-dong, Deogyang-gu, Goyang-si, Gyeonggi Province. It is close to Eunpyeong-gu and Mapo-gu in Seoul. Among the three major urban centers, commuting to Gwanghwamun and Yeouido is convenient. GTX-A Changneung Station (opening in 2030), Seoul-Munsan Expressway, and Jayuro are nearby, providing excellent transportation accessibility. The preliminary subscription competition rates by block were 6:1 for A4, 43:1 for S5, and 26:1 for S6. The S5 block 84㎡ type recorded a peak of 165:1. There is no obligation to reside, so tenants may rent out the property upon moving in.
The A4 block consists of 603 households developed as a newlywed hope town (public sale). Among these, 186 households are for general subscription. It is composed of a single exclusive area of 55㎡, with an average sale price of about 550 million KRW. Childcare facilities such as daycare centers, care centers, and libraries will be established within the complex.
Among the 759 households in the S5 block, 126 households are for general subscription. The average sale prices by exclusive area are 480 million KRW for 51㎡, 550 million KRW for 59㎡, 680 million KRW for 74㎡, and 770 million KRW for 84㎡. These prices are reasonable compared to surrounding market prices.
For the S6 block, 79 households out of 430 are seeking owners. The average sale prices are 570 million KRW for 59㎡ and 710 million KRW for 74㎡. The complex will be equipped with smart mailboxes, unmanned parcel delivery, artificial intelligence (AI) parking guidance, smart ventilation, and standby power cut-off systems.
◆ Sale price is 100 million KRW higher than preliminary subscription but lower than nearby market prices = The sale price is about 100 million KRW higher than during the preliminary subscription. At that time, the average sale prices were 470 million KRW for A4 block, 670 million KRW for S5 block 84㎡, and 620 million KRW for S6 block 74㎡. Construction costs increased due to inflation and supply chain uncertainties.
Industry insiders expect that 10-20% of preliminary subscribers may give up their subscriptions due to the price increase. In the main subscription for the Incheon Gyeyang site, 42% of the 562 preliminary subscription winners did not apply due to the higher sale price compared to the preliminary subscription. An industry official analyzed, "Some may give up subscription due to the high sale price, but considering that Goyang Changneung has a better location than Incheon Gyeyang, the number of dropouts is expected to be lower than in Incheon contracts."
Especially in the case of Deogeun district, which is adjacent to Seoul but not Ilsan like Goyang Changneung, housing prices have recently been on the rise. A DMC Hangang Forest Jungheung S-Class 84㎡ unit in Deogeun district is listed for 1.035 billion KRW. This property was traded at 670 million KRW in June 2023, showing an increase in asking price.
Ko Jong-wan, director of the Korea Asset Management Research Institute and a former LH advisory committee member during the design of the 3rd phase new towns, evaluated, "Goyang Changneung is a highly preferred area among the 3rd phase new towns, with high demand and advantageous proximity to workplaces." He added, "The price increase is not unique to Goyang Changneung, and the possibility of overall price decreases is low. Now is the time to consider purchasing a home. Seoul has limited new housing supply, and good locations are hard to find except for reconstruction, so Goyang Changneung is a suitable location for home ownership."
The announcement of winners is in March, and contracts will be signed in May. Move-in is scheduled for December 2027 for A4 block and January 2028 for S5 and S6 blocks. From February 8, preliminary subscription winners and general subscription candidates will be publicly disclosed in order. Model houses for 55㎡, 59㎡, and 84㎡ types and augmented reality (AR) experiences will be available.
Kim Seong-yeon, head of LH Gyeonggi Northern Regional Headquarters, said, "Starting with Goyang Changneung, high-quality public sale housing in prime locations such as the 3rd phase new towns will be supplied in earnest from this year. We will do our best to ensure timely supply through thorough project schedule management."
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