Location Determines Sale Price... 10 Million KRW Difference per 3.3㎡ Between Incheon Gyeyang and Seongnam Bokjeong1

3rd New Town Supply Launches... Millions Flood Website Causing Access Issues
5 Districts Including Incheon Gyeyang, Namyangju Jinjeop 2, Seongnam Bokjeong 1, Uiwang Cheonggye 2, Wirye
Prices at 60-80% of Nearby Seoul Market... Half Are Newlywed Hope Towns

[Asia Economy Reporter Jo Gang-wook] The pre-sale of apartments in the Seoul metropolitan area, including the 3rd phase new towns totaling 62,000 households, officially began on the 16th with the announcement of the first batch of 4,333 units. As demanders focused their attention on the 3rd phase new town pre-sale, which is supplied at 60-80% of the surrounding market price, the related website even experienced temporary access failures. The pre-sale districts starting online applications from the 28th include five metropolitan area housing sites: Incheon Gyeyang, Namyangju Jinjeop 2, Seongnam Bokjeong 1, Uiwang Cheonggye 2, and Wirye.

◇ Prime locations Bokjeong 1 and Wirye, soaring to 24 million KRW per 3.3㎡ = The first pre-sale quantities by district are △Incheon Gyeyang 1,050 units △Wirye New Town 418 units △Seongnam Bokjeong 1 district 1,026 units △Uiwang Cheonggye 2 district 304 units △Namyangju Jinjeop 2 district 1,535 units.

All units are public sale apartments on public land, with estimated sale prices calculated under the price ceiling system. The cheapest areas are Incheon Gyeyang and Namyangju Jinjeop districts. Incheon Gyeyang is priced at about 14 million KRW per 3.3㎡, with 59㎡ (exclusive area) units around 356 million KRW and 84㎡ units around 494 million KRW. The estimated sale price for the newlywed hope town 55㎡ is about 340 million KRW. Public sale housing in Namyangju Jinjeop 2 is priced at about 13 million KRW per 3.3㎡. For 51㎡ units, home ownership is possible at around 304 million KRW. The newlywed hope town 55㎡ units are even cheaper, ranging from 314 million to 329 million KRW.

Seongnam Bokjeong 1 district and Wirye New Town, which are evaluated as having excellent locations, are somewhat higher at 24 to 26 million KRW per 3.3㎡. The 59㎡ units are priced around 676 million KRW, and 55㎡ units range from 550 million to 640 million KRW.

The floor plans are designed similarly to private apartments. For example, the 84㎡ unit in Jinjeop 2 district applies a 4-bay structure with the living room and three bedrooms arranged at the front. A separate alpha room space is provided in addition to the bedrooms, which is notable. The 46㎡ unit in Bokjeong 1 district is also designed with a 3-bay structure despite being a small apartment. However, since the space design follows recent trends, while openness is increased, the width is narrow, so if the balcony is not extended, space utilization may be difficult. Specific floor plans will be finalized at the main sale application stage.

◇ Transportation conditions need careful consideration = Seongnam Bokjeong 1 district will be connected by the newly planned Namwirye Station on Line 8 and the Wirye Line. Together with Wirye New Town, it offers the best location for commuters to Gangnam areas such as Jamsil.

The only 3rd phase new town among this pre-sale target, Incheon Gyeyang district, is notable for designing 27% of its total area as parks and green spaces. It is also characterized by the establishment of self-sufficient functions within the district at 1.7 times the size of Pangyo Techno Valley. A super-main arterial bus system (S-BRT) will be constructed connecting Gimpo Airport Station, Gyeyang district, Daejang district, and Bucheon Sports Complex.

Namyangju Jinjeop 2 district shares the living area with Byeollae and Wangsuk new towns. It is planned to have a metropolitan transportation network including the Seoul Metropolitan First Ring Expressway, Sejong-Pocheon Expressway (Guri-Pocheon), and a new station (Pungyang Station) on the extended Line 4.

◇ Three more chances within the year = The government will conduct three more pre-sale rounds within the year following July. Experts advise that depositors with a high chance of winning should wait patiently for the next batches.

In October, a total of 9,100 units will be supplied, including 1,400 units in Namyangju Wangsuk 2 district and 1,800 units in Seongnam Sinchon, Nakseong, and Bokjeong 2 districts. In November, 4,000 units will be available in Hanam Gyosan (1,000 units), Gwacheon Juam (1,500 units), Siheung Hajung (700 units), and Yangju Hoecheon (800 units). The last pre-sale of the year in December will supply 5,900 units in 3rd phase new towns such as Namyangju Wangsuk, Bucheon Daejang, and Goyang Changneung, as well as locations like Guri Galmae Station area (1,100 units) and Ansan Singil 2 (1,400 units).

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