Standard 84m² Units in the Seoul Area for 400 Million Won?... Price-Competitive "Hwaseong Namyang New Town Woomi Lyn Edu High"

Complex in Hwaseong Namyang New Town Subject to Presale Price Cap... Strong Price Competitiveness Compared to Nearby Bongdam and Hyangnam
Ongoing Rise in Presale Prices and Construction Costs... High Likelihood That Upward Presale Price Trend Will Continue This Year

A rare apartment complex priced in the 400 million won range in the Seoul metropolitan presale market is drawing strong attention from homebuyers. As presale prices in the metropolitan area continue to rise, expectations are higher than ever for complexes that offer reasonable price competitiveness.

According to the "Private Apartment Presale Price Trends" data released by the Korea Housing and Urban Guarantee Corporation (HUG), as of the end of December last year, the average presale price of private apartments in the Seoul metropolitan area was 28.07 million won per 3.3 square meters. Converted to the standard 84 square meters (formerly 34 pyeong), this amounts to approximately 950 million won. The nationwide average presale price also reached 713.08 million won for an exclusive area of 84 square meters, surpassing 700 million won for the first time.

Amid this trend of high presale prices, "Hwaseong Namyang New Town Woomi Lyn Edu High," supplied by Woomi Construction in the Namyang New Town area of Hwaseong-si, Gyeonggi-do, is attracting attention. This complex, located in the public housing site of Namyang New Town, is the first new supply in five years and offers reasonable price competitiveness thanks to the application of the presale price cap system. The presale price for an 84 square meter unit in the complex is set in the 400 million won range, which is only about half the average presale price in the metropolitan area.

The value becomes even more evident when compared to major residential districts in Hwaseong-si, such as Bongdam District and Hyangnam District. According to the Actual Transaction Price Disclosure System of the Ministry of Land, Infrastructure and Transport, an 84 square meter unit at Bongdam 2 District Jungheung S-Class The Central, located in Bongdam-eup, Hwaseong-si, Gyeonggi-do, was traded for 658 million won in November last year. In addition, an 84 square meter unit at Hyangnam Station Hanyang Sujain The Estige (move-in started in February 2024), located in Hyangnam-eup, Hwaseong-si, Gyeonggi-do, was sold for 505 million won this January.

Given that the going market price for the standard 84 square meter units in Bongdam District is already in the 500 to 600 million won range, and that presale prices in the Hyangnam area have also been rising recently, the price competitiveness of Hwaseong Namyang New Town Woomi Lyn Edu High stands out even more. In effect, this is virtually the last opportunity to purchase a new brand-name apartment in the western part of Hwaseong-si for around 400 million won.

The price is reasonable, yet the location and product quality are excellent. The complex consists of 6 buildings with 2 basement levels and 24 above-ground floors, totaling 556 households, and all units are configured as the highly preferred 84 square meter exclusive type. It boasts a "Chopuma" location, with an elementary school and a middle school scheduled to open this March right in front of the complex. On top of that, it is expected to benefit from the double-track Seohae Line (Seohwaseong-Wonsi section), which is slated to open this year, further enhancing its future value.

A sales representative said, "Due to the continued upward trend in presale prices, the nationwide average presale price has been rising steeply, and in reality, it is becoming increasingly difficult to find 84 square meter units priced in the 400 million won range in the Seoul metropolitan area," adding, "With clear price competitiveness compared to nearby Bongdam and Hyangnam, combined with major transportation利 improvements, we are seeing a surge in inquiries from buyers looking not only for actual residence but also to secure future value in advance."

Meanwhile, the show house for "Hwaseong Namyang New Town Woomi Lyn Edu High" is located in Gojan-dong, Danwon-gu, Ansan-si, Gyeonggi-do, and detailed presale information is available on the official website.