Gimpo's 'Pungmu Station Lotte Castle' Offers Remaining Units for Sale on Back of Line 5 Extension News [Real Estate AtoZ]

Gimpo–Geomdan Extension Passes Pre-Feasibility Study
Exempt Area from June 27 Lending Regulations

Perspective view of "Pungmu Station Lotte Castle Signature" in Gimpo, Gyeonggi Province. Lotte Engineering & Construction

The Pungmu Station area is drawing attention after the Seoul Subway Line 5 Gimpo-Geomdan extension project passed its final preliminary feasibility study (pre-feasibility study) on March 10. 'Pungmu Station Lotte Castle Signature,' which will be built in this area, is offering its remaining units on a first-come, first-served basis, highlighting the benefits of the Line 5 extension and the exemption from the June 27 lending regulations.

According to Lotte Construction on March 15, 'Pungmu Station Lotte Castle Signature' is a residential complex located in Pungmu-dong, Gimpo City, consisting of nine buildings ranging from four basement levels to 28 floors above ground, with a total of 720 units. The development focuses on small and mid-sized units, including 401 units of 65 square meters, 121 units of 75 square meters, and 198 units of 84 square meters, and is scheduled for occupancy in July 2028.

Gimpo has come into the spotlight because the Seoul Subway Line 5, which has now passed its pre-feasibility study, will be extended. The new segment will connect the Banghwa vehicle depot in Seoul to Pungmu Station and Janggi Station, ending at the Gimpo Hangang 2 Compact City district, covering a total distance of 25.8 kilometers. Nine new stations will be added—two in Geomdan and seven in Gimpo—with a total project cost of 3.5587 trillion won.

Perspective view of 'Pungmu Station Lotte Castle Signature' in Gimpo-si, Gyeonggi Province. Lotte Construction

Once the Line 5 extension is completed, travel time between Gimpo Hangang 2 New Town and Banghwa Station will be reduced by approximately 31 minutes (from 57 minutes to 26 minutes), while the trip from Gimpo Hangang 2 New Town to Seoul Station will also be shortened by about 31 minutes (from 87 minutes to 56 minutes).

A local real estate agent near Pungmu Station stated, "The passing of the pre-feasibility study for Line 5 is nothing short of a 'revolution' for the Gimpo real estate market," adding, "We expect a surge in buying demand." The agent further commented, "Once Line 5 is actually connected, the price gap will inevitably narrow."

This complex is not subject to the 600 million won limit on interim and balance loans, as its sales notice was issued in March of last year, prior to the implementation of the loan regulations announced on June 27. The down payment has also been set at 5 percent of the sale price, with the first installment fixed at 10 million won, easing the initial financial burden for buyers.

The complex is conveniently located near major supermarkets such as Emart Traders and Homeplus, as well as the CGV cinema. Gimpo City Hall and Gimpo Citizens' Hall are also nearby. Schools including Sinpung Elementary School and Pungmu High School are adjacent, and the Pungmu-dong and Sau-dong private education districts are within walking distance. Development projects such as the Pungmu Station Area Development and the Inha University Gimpo Medical Campus are also underway.

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