Grab the 'Prime Sales' Near Seoul Before Chuseok

2900 Households in Gwanggyo, Pyeongchon, Siheung
Affordable Prices with Transportation Benefits
More Than Half of Units Reserved for Special Supply
Opportunity for Newlyweds and Others to Own a Home

[Asia Economy Reporter Kim Hyemin] Ahead of the Chuseok holiday, fierce competition for lottery apartment subscriptions is expected in key areas of the Seoul metropolitan area. This is because a large number of complexes with excellent accessibility to Seoul, such as Gwanggyo in Suwon, Bisan in Anyang, and Siheung, are being supplied, along with transportation benefits and prices several hundred million won cheaper than market prices. Nearly half of the total supply consists of special supply units, attracting many newlyweds and others who may lose out in the point-based system.

According to the Korea Real Estate Board’s Subscription Home and Korea Land and Housing Corporation (LH) on the 13th, a total of 2,927 households will be available for subscription this week in the metropolitan area alone. Among them, 1,847 units are special supply, accounting for 63% of the total.

What stands out is the large-scale supply near Seoul suburbs. Starting with special supply on this day, the subscription schedule began for ‘Hillstate Gwanggyo Jungang Station First,’ the last residential-commercial complex in the Gwanggyo New Town Development District in Suwon, Gyeonggi Province. It is praised for its excellent location, being just a one-minute walk to Gwanggyo Jungang Station on the Shinbundang Line. Using this line, it takes less than 35 minutes to reach Gangnam, Seoul. A total of 211 households are being supplied, with 151 units for general supply.

The sale price for the 84㎡ (exclusive area) units in this complex is in the 900 million won range. Considering that the actual transaction price of the opposite complex, Nature & Hillstate, is around 1.6 billion won, a price difference profit of about 700 million won is expected. However, since mid-term loans are no longer available even for small and medium-sized apartments, a solid financial plan is necessary. An industry insider said, "If the mid-term payment is not made, the deposit will be converted into a penalty and cannot be refunded," adding, "You should be careful as you could lose the deposit."

The ‘Andante’ public sale in Block A3 of Siheung Janghyeon District, Gyeonggi Province, also started subscriptions on this day. Of the total 534 households, 85% (451 units) are special supply. More than half of the special supply units are allocated to newlyweds (160 units) and first-time homebuyers (133 units), making it advantageous for young people who do not exceed income and asset criteria.

This complex is expected to benefit from transportation improvements as the Wolpan Line (Wolgot-Pangyo), considered a prime route in southern Gyeonggi, will be within walking distance. Since it passes through major transfer stations such as Gwangmyeong and Indeogwon, it is possible to reach major business districts in Seoul with just one transfer. Nearby, the Janghyeon Hoban Summit apartment, despite its less favorable location, is currently trading at 760 million won for an 84㎡ unit. The sale price for the same size unit is up to 470 million won, so a price difference profit of over 300 million won is expected upon winning the lottery.

In Anyang, Gyeonggi Province, the large apartment complex ‘Pyeongchon Elproud’ with 2,739 households has started sales. It is a redevelopment complex of Bisan Elementary School, with 689 units available for sale excluding union member units. Special supply accounts for 340 units, a high proportion. Anyang has recently seen a significant rise in housing prices due to transportation benefits such as the GTX C Line, Wolpan Line, and Indong Line (Indeogwon-Dongtan) heading to Seoul. The sale price for 59㎡ units is up to 680 million won, which is higher than the average of 760 million won in surrounding complexes, but experts say there is still room for price growth.

Currently, it is difficult to use the subway such as Line 4 at Beomgye Station, but once the Wolpan Line Anyang Sports Complex Station is built within a 10-minute walk, commuting to Seoul is expected to become easier. It should be noted that 100% of the supply is given priority to residents who have lived in Anyang for more than two years, and remaining units will be offered to residents of Seoul and other metropolitan areas.

Additionally, in Pocheon, Gyeonggi Province, 623 units of ‘Taebong Park Prugio Parkmont’ will be supplied. This complex is the first private housing in Pocheon, one of the few non-regulated areas left in the metropolitan area, where the price ceiling system does not apply. The sale price for 84㎡ units is up to 412 million won. In Incheon, ‘Yeongjong Sky City Hanshin The Hue 2nd Phase’ with 870 units is being supplied, of which 722 units are special supply.

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