In the end, the market price of new cities in the metropolitan area was found to have a major impact on accessibility to the Gangnam area of Seoul.
According to the results of ‘Real Estate 114’ analysis of the market price level of the first and second new towns in the metropolitan area on the 27th, the apartment price in Bundang was the highest in the first new town, and the Pangyo and Wirye areas were the highest in the second new town. Real Estate 114 said, “It can be interpreted that the accessibility of Gangnam and major business facilities in Seoul had a big impact on the market price.”
In Bundang, located in Seongnam, Gyeonggi-do, the average price of an apartment per pyeong (3.3㎡) was 33.6 million won. It was followed by Pyeongchon (27.17 million won), Ilsan (18.75 million won), Middle East (16.67 million won) and Sanbon (16.43 million won).
Pangyo, which has the highest apartment price among the second-generation new towns, recorded 45.98 million won per pyeong. Wirye New Town was confirmed at 41.34 million won per pyeong. It was followed by Gwanggyo (35.99 million won), Dongtan (22.19 million won), Paju (16.95 million won), Gimpo (14.9 million won), and Yangju (12.98 million won).
A similar trend is expected for the 3rd new city, where the first pre-registration starts on the 28th. According to the data released by the Ministry of Land, Infrastructure and Transport at the beginning of this year, Hanam Gyosan (20%) and Gwacheon (18%) showed the highest regional preference of applicants for the third new city subscription notification. It was followed by Goyang Changneung (17%), Namyangju Wangsuk (15%), Bucheon Daejang (14%), and Incheon Gyeyang (10%). Real Estate 114 said, “Although the difference in preference was not large due to the different living areas, it can be interpreted that preference rankings change depending on accessibility to Gangnam, Seoul, etc., as confirmed in the previous 1st and 2nd new city market prices.”
As the pre-sale price increases the closer it is to Gangnam, consumers are expected to choose more carefully. According to the market price of new apartments within 5 years of moving in around the 3rd new city, Hanam was the highest at 32.48 million won per pyeong. Goyang (27.41 million won) and Namyangju (2653 million won) were also relatively higher than Ansan (22.48 million won), Bucheon (20.87 million won) and Incheon Gyeyang (18.28 million won). Gwacheon and Gwangmyeong Siheung are excluded from the pre-orders in the second half of the year. An official from Real Estate 114 said, “Although the sale price ceiling system is applied, the sale price can be relatively high depending on the conditions for reflecting the market price in the vicinity.” He said, “You should carefully check the cost-effectiveness according to your assets and income level and make a subscription in advance.”
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