Record High Prices Updated Around Metropolitan Railway Stations... Benefiting 'Jeongeup Prugio The First'

[Jeongeup Prugio The First Bird's-eye View]

원본보기 아이콘

Interest is focusing on real estate near KTX and SRT stations. Despite the real estate market downturn, housing prices remain stable thanks to convenient transportation that classifies these areas as 'quasi-metropolitan areas,' and future value is expected due to additional development. In particular, most apartment sales around stations have been completed, increasing the scarcity value of newly launched complexes.

According to the real estate industry, a sale contract was signed on the 19th of last month for a 102㎡ (34th floor) unit at 'Dongtan Station Lotte Castle' (940 households) in Osandong, near Dongtan Station (SRT·GTX), setting a record price of 2.2 billion KRW. Considering that the sale price for this size was in the 500 million KRW range at the time of pre-sale in 2017, the price has increased by more than 1.6 billion KRW over six years.

The 84㎡ unit at ‘Gwangmyeong Station U Planet Desiang’ located near Gwangmyeong Station (KTX·Line 1) was traded for 1.14 billion KRW on January 11, roughly doubling from the 500 million KRW range in 2017. Gwangmyeong Station area was also ranked first (27.19%) in October last year in a Zigbang survey for the highest price increase among metropolitan subway station areas.

Especially, areas around local high-speed rail stations benefit from the metropolitan area expansion effect, significantly improving convenience. It is generally possible to reach Seoul within two hours. Since the opening of Seodaegu Station (KTX·SRT) at the end of March 2022, the cumulative number of users surpassed 2 million as of December last year. It takes about 1 hour and 30 minutes to reach Seoul, making it closer than the existing Dongdaegu Station. Jeongeup and Gimcheon Gumi also allow travel to Seoul in similar times, playing a key role as regional transportation hubs.

Accordingly, interest is rising in the final apartment sales near KTX and SRT station areas. A representative example is ‘Jeongeup Prugio The First’ near Jeongeup Station, which is nearing a complete sell-out. Construction is handled by Daewoo E&C, and the complex consists of a total of 707 households with exclusive areas of 84㎡ and 110㎡. Notably, Jeongeup Station has locational rarity as one of the only stations in Jeonbuk, along with Iksan, where all high-speed trains stop.

The complex boasts excellent product quality befitting the region’s first apartment constructed by a top-tier brand construction company. All units feature a 4-bay structure, and dining rooms with views are designed by type to maximize openness. Large alpha rooms and pantries enable efficient space utilization. A smart triple-layer floor structure was introduced to protect privacy for each household, and based on this outstanding design, it won the grand prize in the Smart category at the 2023 Korea Premium Housing Awards, recognizing its product excellence.

A local real estate agent commented, “Recently, the designation of a national bio high-tech strategic industrial complex in Jeongeup is being promoted, adding industrial benefits and further increasing the area's value. Also, prices in both metropolitan and local areas have risen by over a billion KRW in some cases, drawing attention to the reasonable pricing of Jeongeup Prugio The First.”

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.