Will the Pyeongtaek Housing Market Rebound After Hitting Bottom?... Semiconductor Boom Sparks Recovery Hopes

The Pyeongtaek real estate market, which had been stagnant for some time, is now showing signs of recovery. As construction resumes on Samsung Electronics' large-scale semiconductor production line, the P5 (the fifth plant), various parts of the local housing market, which had previously raised concerns about oversupply, are beginning to attract attention. The biggest factor is the influx of population. Samsung Electronics has announced its plan to resume work on the Pyeongtaek Campus P5 and has formalized a large-scale recruitment plan over the next five years.

According to Gyeonggi Province's statistics as of the end of January this year, the number of unsold apartments in Pyeongtaek was 2,942 units, down 11% from a month earlier. At the beginning of last year, the number exceeded 6,000 units, but it has now dropped to about half that level. Transaction volume is also recovering. According to the Ministry of Land, Infrastructure and Transport's actual transaction price disclosure system, the number of apartment sales in Pyeongtaek in the fourth quarter of last year was 1,766, up 14% from the previous quarter. This shows a rebound in the second half of the year, unlike the approximately 25% drop in the third quarter compared to the second quarter.

Pyeongtaek has remained a non-regulated area under the October 15, 2023 housing market stabilization measures, which means that regulations on loans, subscriptions, and resale restrictions are relatively relaxed. The market sees both end-user demand and investment demand flowing in.

Hillstate Pyeongtaek Station Central City is a large-scale complex with 1,918 units, to be supplied in Pyeongtaek's original downtown area. It is close to major industrial facilities, including Samsung Electronics Pyeongtaek Campus, Songtan Industrial Complex, Chilgoe Industrial Complex, and Pyeongtaek Integrated Logistics Complex. Residents can access Seoul Metropolitan Subway Line 1 via Pyeongtaek Station within walking distance. From Pyeongtaek Jije Station, which is one stop away, it takes about 40 minutes by Suseo High-Speed Railway (SRT) to reach Suseo Station. The area is equipped with essential living infrastructure such as markets and terminals, and there are schools nearby. The contract deposit is set at 5%, with the first installment being 5 million won. Move-in is scheduled for January 2028.

Perspective of Hillstate Pyeongtaek Station Central City. Provided by Hyundai Construction

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