- Homeownership Possible with Seoul Jeonse Budget... Surge in End-User and Rental Demand from Initial Occupancy
- Pyeongtaek 'Godeok': Emerging Residential Hub with Benefits from Semiconductor Policy, Transportation Infrastructure, and Lifestyle Convenience
While the real estate market in the Seoul metropolitan area remains in a wait-and-see mode, record-high transactions are occurring in select residential areas, such as Gangnam in Seoul and Gwacheon in Gyeonggi Province. Although transaction volumes have declined, 'selective purchasing' continues to focus on highly desirable locations, increasing the perceived burden for genuine homebuyers.
According to the real estate platform Zigbang, 59% of apartment transactions in Gangnam-gu, Seoul, in April were recorded at all-time high prices. In Gwacheon, the figure was 62.5%, marking the highest proportion in the metropolitan area and showing a steady upward trend.
Amid these conditions, genuine homebuyers are turning their attention to alternative residential areas where they can purchase a home with a budget similar to Seoul's jeonse (long-term lease) prices. At the center of this trend is Godeok International New City in Pyeongtaek, Gyeonggi Province. Godeok International New City is considered a prime location within Pyeongtaek and offers optimized access to Seoul through multiple transportation networks, including SRT Jije Station, express buses, and Subway Line 1. Using SRT Jije Station, it takes about 20 minutes to reach Suseo Station, and express buses provide access to Gangnam, Seoul, in just over an hour. Furthermore, with a future KTX stop planned, accessibility to Seoul is expected to improve even further.
In fact, this transportation environment is translating into increased demand for actual relocation. An industry official explained, "With the SRT and express buses, commuting directly between Seoul and Pyeongtaek Godeok has become possible, which has heightened interest among buyers. Above all, the ability to own a newly built apartment for the price of a jeonse deposit in major areas of Seoul is driving steady inquiries from genuine homebuyers hoping to purchase their own home."
In addition, favorable government policies have been announced. Last month, the government unveiled a supplementary budget of 33 trillion won for the semiconductor industry, providing up to 70% of the infrastructure costs for electricity and water in key high-tech industry hubs such as Pyeongtaek and Yongin through national funding, as well as 3 trillion won in policy finance and investment subsidies, among other comprehensive support measures.
This policy stance is raising expectations not only for industrial support but also for improved residential conditions in the Godeok area. In fact, the local real estate market is showing a clear rebound, with a noticeable increase in rental demand.
Bando Construction's 'Godeok Ubora The Crest,' which began occupancy at the end of March, is emerging as a prime beneficiary of these trends. The complex is located between Samsung Electronics' Pyeongtaek Campus and the central commercial district, ensuring proximity between home and workplace. It also boasts comprehensive transportation, lifestyle infrastructure, and administrative facilities, enhancing its appeal as a residential area.
Notably, a new Pyeongtaek City Hall is planned for the adjacent administrative town, which is expected to further strengthen the area's administrative functions. The new city hall will be built on Office Site 6 in the Godeok International Planning District, with a total project cost of 346.2 billion won and a five-story structure above ground. It aims to provide a comfortable workspace for a future population of one million and is scheduled for completion in the second half of 2027.
Godeok Ubora The Crest features buildings up to 45 stories high, offering residents expansive sky views of the surrounding area. While most private supply in Godeok New City consists of medium to large units, this complex stands out for offering the highly sought-after 59 to 84 square meter exclusive units, making its availability even more rare.
The complex also offers a variety of community facilities, including a golf practice range, screen golf, fitness center, smart farm, and Moms Station, allowing residents to enjoy a healthy and leisurely lifestyle. The exterior features a specialized curtain wall finish for a sophisticated and luxurious appearance. Throughout the complex, including the central plaza, commercial gate, common halls, and installed sculptures, works by world-renowned artists Craig & Karl are also on display.
A member of the move-in facilitation team stated, "Despite being in the early stages of occupancy, inquiries and contracts for rentals within the complex are increasing rapidly. With the influx of various tenants, including Samsung Electronics Pyeongtaek Campus employees, partner company staff, and U.S. military rental demand, the complex is becoming more vibrant."
Meanwhile, 'Godeok Ubora The Crest' is a large-scale complex consisting of two blocks and 1,116 units. Block 9-1-1 comprises four basement levels and 45 above-ground floors with 560 units, while Block 9-2-1 consists of four basement levels and 41 above-ground floors with 556 units, all offered in 59 to 84 square meter types.
The complex provides a rental matching service to assist buyers. For more details, visit the move-in service lounge or the resident website.
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