[Bread-Baking Typewriter] This Vast Gyeonggi-do Land, Where Is My Place to Live?

Published 18 Feb.2022 14:57(KST)

[Asia Economy Reporter Lee Ji-eun] People who cannot bear Seoul housing prices and leave, and non-homeowners burdened by Seoul housing prices, first think of Gyeonggi-do as an alternative.

Gyeonggi-do is so vast that it is often hard to guess where to turn your attention. The book "Gyeonggi-do Apartment Map" can be said to have been created for such people. Based on information gathered by the author, a real estate investment influencer who worked on the ground, it covers 39 areas in Gyeonggi and Incheon, from 13 first and second phase new towns, 8 metropolitan area new towns, 12 key areas by region, to 6 districts in Incheon Metropolitan City.

The biggest advantage of the book is that the so-called "leading" apartments throughout Gyeonggi-do are clearly organized focusing on transportation and school districts. Leading apartments are also called "landmark" apartments. They serve as a barometer that moves first when local housing prices fluctuate. Because they lead housing prices, they tend to be priced high and are burdensome to purchase directly, but by observing their price movements, it is easier to determine whether it is a rising or falling market.

Landmark apartments also play a significant role in investment. By comparing the prices of landmark apartments of the national standard sizes (exclusive area 84㎡ and 59㎡) in each region, one can easily identify which areas are undervalued.

When reading this book, it is recommended to read selectively rather than reading straight through from beginning to end. Start by thoroughly reviewing the areas you are interested in, and read other areas little by little when you have time. Since the scope of areas covered in the book is extensive, reading it all at once may cause you to lose interest.

In the current situation where the US is pushing for interest rate hikes and the global wave of rate increases is rising, the author also inserts valuable tips such as "Real Estate Investment Strategies to Overcome a Downturn" between regional analyses for those worried about whether it is okay to buy apartments now or if they might become "house poor" after buying.

Additionally, for those who want to invest in Gyeonggi-do real estate in the future, the book provides detailed explanations of new railroads in Gyeonggi-do centered on the metropolitan area express railroad (GTX) plans. Although currently undervalued due to inconvenient transportation, these areas have great growth potential once connected to GTX. The first edition limited appendix also includes illustrations of all new railroad lines to be established by 2030.

However, since many "real estate map" books analyzing investment locations by region have been published before, it may feel that this book lacks distinctiveness. It also appears to merely organize parts that are already well known as common knowledge among real estate investors.

Some readers may feel even more overwhelmed after reading the book. This is because most landmark apartments are priced in the 1 billion KRW range, not much different from Seoul or even higher in price. If you have no home in Seoul or Gyeonggi-do, where are you supposed to live? The sorrow of thinking "Is there no house for me to live in this vast land?" may overwhelm you.