"City OCL Complex 8" Draws Attention from Buyers with Jobs, Transportation, and Future Value

Market Attention Focused on Metropolitan Locations Near Seoul Exempt from Regulations
Outstanding Lifestyle Infrastructure, Pleasant Residential Environment, and Benefits from the GTX-B Metropolitan Transit Network

Recently, as the real estate market has shifted to focus on end-users, newly launched residential complexes with strong locational competitiveness are once again attracting attention. In particular, complexes that offer a balance of three key factors-transportation accessibility, proximity to workplaces, and positive development prospects-are commanding high prices within their regions and drawing significant market interest.

In fact, over the past few years, the real estate market has been subdued due to rising interest rates and economic uncertainty. However, those seeking homes for their own use remain highly motivated to purchase, and their selection criteria have become more distinct. As labor and construction costs continue to rise, higher pre-sale prices have become inevitable. Consequently, there is a growing preference for locations that offer both convenience for daily life and future value, rather than simply opting for complexes with lower prices.

In particular, demand for housing close to workplaces-known as "proximity to work"-has consistently existed throughout Seoul and the greater metropolitan area. Recently, interest in new residential complexes has been increasing, especially in areas with expectations for expanded transportation networks or abundant demand from nearby industrial complexes. As a result, areas near subway stations, adjacent to industrial belts, or slated for urban redevelopment are being re-evaluated in the market, attracting not only end-users but also some investment demand.

A leading example of this trend is "City OCL," currently being developed in Michuhol-gu, Incheon. According to KB Real Estate data, in January of this year, the average sales price for an 84-square-meter unit in "City OCL Complex 4" was 625 million won. This represents a premium of about 60 million won above the pre-sale price (approximately 565 million won).

City OCL is notable for the large scale of each complex, and together, they form a compact city of around 13,000 households, similar to a mini-new town. The consortium of "Tier 1 brands" behind the project also lends it a high degree of credibility. In particular, the anticipated establishment of Cheonghak Station (tentative name) on the GTX-B line nearby is fueling expectations for a transportation premium. Additionally, the complex’s proximity to major industrial belts such as Incheon Port and Namdong Industrial Complex continues to attract strong interest from end-users.

Industry experts believe that as the market enters a recovery phase, price differentiation based on location will become even more pronounced. For end-users considering a home purchase, it is advised to prioritize key factors that ensure both residential and asset value-such as transportation, jobs, and positive development prospects-over "brand" or "pre-sale price."

An industry insider commented, "Currently, demand is not dispersing but rather concentrating on proven locations," adding, "New complexes in areas with both improved transportation and an industrial base are likely to become more competitive, not only in terms of residential satisfaction but also in terms of medium- to long-term asset value."

Against this backdrop, HDC Hyundai Development Company, Hyundai Engineering & Construction, and POSCO E&C are currently offering "City OCL Complex 8" for sale in the joint 2BL area of the Yonghyeon-Hakik 1 Block urban development zone in Incheon, adjacent to Seoul and the greater metropolitan area. The complex will consist of seven buildings ranging from three basement levels to 46 above-ground floors, with a total of 1,349 units sized between 59 and 136 square meters.

The complex boasts an excellent location. First, it is situated within 500 meters of the planned Hakik Station on the Suin-Bundang Line, making it a prime "station area" location where residents can walk to the station. Once the station opens, it will provide direct access to major Seoul districts such as Gangnam-gu Office, Seoul Forest, and Suseo without transfers. It will also connect easily to most lines, including Seoul Subway Line 1, Songdo Station (KTX), and the Gyeonggang Line (Wolgot-Pangyo), making travel throughout the metropolitan area convenient.

The outstanding lifestyle infrastructure of City OCL, a premium mixed-use city, is another highlight. The complex offers an excellent educational environment, with an elementary school (planned) nearby and middle and high schools (planned) within walking distance. In addition, "Star OCL," the large-scale commercial, cultural, and business district within City OCL, is easily accessible. Star OCL is expected to house a variety of facilities, including Incheon Museum Park (planned), a cinema, and shopping venues, providing diverse lifestyle, shopping, and cultural amenities.

The residential environment is also pleasant. A Grand Park, comparable in size to Songdo Central Park (approximately 370,000 square meters), is planned in front of the complex, and Namhang Neighborhood Park, Munhak Mountain, and Gaetgol Retention Basin are all nearby. Furthermore, a pedestrian boulevard (Link OCL) connecting Grand Park and City OCL is being developed, making it easier to enjoy a pleasant natural environment and a one-stop cultural and arts district.

Additionally, Incheon, where the complex is located, is expected to benefit from regulatory exemptions. Under the government's October 15 real estate measures, all of Seoul and 12 areas in Gyeonggi Province have been designated as regulated zones, tightening requirements for housing subscriptions and loans. However, Incheon has been excluded from these regulated zones, making it relatively easier for buyers to purchase homes.

Furthermore, City OCL, being developed as part of an urban development project, is expected to become a self-sufficient, fully developed city once the project is completed. By the time residents move in, they will be able to enjoy the abundant infrastructure of both City OCL and the surrounding area, further enhancing the location’s value and residential convenience in the future.

Meanwhile, the model home for "City OCL Complex 8" is located on Aam-daero, Michuhol-gu, Incheon.