Mixed Emotions Over New GTX-C Station... Wangsimni and Indeogwon 'Brighten Up', Ansan 'Downcast'

Expected Additional Stops Boost Housing Prices Near Wangsimni and Indeogwon Stations
Weekend Asking Prices Rise Uniformly by 100 to 200 Million KRW... Almost No Listings Available
Disappointment Listings Appear Around Sangroksu Station Amid Uncertainty of New Line

[Asia Economy Reporter Ryu Tae-min] "House prices had been steadily rising even before, but right after the announcement of the preferred negotiation candidate, asking prices collectively increased by 100 million to 200 million KRW. Homeowners are withdrawing listings, making it difficult to buy even with a premium." (Representative of real estate agency A in Poil-dong, Uiwang)

"Until recently, buyers lined up without even checking listings, but now it's chaotic with people asking whether they should sell. Asking prices have also dropped." (Official from real estate agency B in Bono-dong, Ansan)

As the outline of the metropolitan area express railroad (GTX) Line C has been revealed, fortunes are diverging among metropolitan areas. Near Wangsimni Station and Indeokwon Station, where additional GTX stops are likely, expectations for house price increases have grown, while the market around Sangnok-su Station in Ansan, where the new station is uncertain, shows signs of disappointment.

According to industry sources on the 21st, real estate agencies around Indeokwon Station in Anyang, Gyeonggi Province, began listing properties with raised asking prices over the weekend. For example, an 84㎡ (exclusive area) unit in Indeokwon Prugio El Centro, known as the flagship apartment near Indeokwon Station, is currently listed at a maximum asking price of 2 billion KRW. Considering that the same size was traded for 1.63 billion KRW on the 6th, this represents an increase of over 350 million KRW in just two weeks.

The Indeokwon Village Samsung 84㎡, located a 5-minute walk from Indeokwon Station, also saw a significant rise in asking prices over the weekend. The current asking price ranges from 1.2 billion to 1.3 billion KRW, which is 200 to 300 million KRW higher than the 995 million KRW transaction price last month. A nearby real estate agent B said, "As the station establishment was virtually confirmed, apartment asking prices in this area collectively rose by 100 to 200 million KRW," adding, "There are almost no listings now; currently, there are only four units of Samsung Apartments 84㎡ available."

House prices near Wangsimni Station are also stirring. Two listings of 84㎡ units in Seoul Forest Sambu, Haengdang-dong, Seongdong-gu, Seoul, facing Wangsimni Station, are currently on the market at 1.69 billion KRW and 1.52 billion KRW. A nearby real estate agent C said, "The last transaction for this size was 1.39 billion KRW in April," and added, "Even the few listings that were available were all withdrawn after the station establishment announcement, leaving only two units."

On the other hand, Ansan City in Gyeonggi Province is 'downcast' as the station establishment seems off the table. Listings for 44㎡ units in Sangnok-su World are currently priced between 430 million and 450 million KRW. This size had traded for about 500 million KRW earlier this year, doubling in just a month or two. The atmosphere has completely changed since the preferred negotiation candidate was selected as the Hyundai Construction consortium.

An official from real estate agency D in Bono-dong said, "Earlier this year, there were so few listings that many transactions occurred without properly checking the properties," and added, "Now, there are many calls worrying about whether to quickly dispose of listings, and disappointed sellers are increasing."

This content was produced with the assistance of AI translation services.