‘70,000 households’ pouring good news? Bad news?… Market reaction to Gwangmyeong Siheung New Town

Gwarim-dong, Siheung-si, Gyeonggi-do. yunhap news

When the government announced that it would supply 70,000 households by designating Gwangmyeong and Siheung, Gyeonggi-do as new public housing sites, the market’s reactions were mixed. On the one hand, there is an expectation that the expansion of the transportation network will act as a strong boost and lead to an increase in house prices, while there are also concerns that excessive supply may lead to a price decline. Since the Gwangmyeong-Siheung area has been a place where the story of development has been overturned several times since 10 years ago, there is also a prudence that persuasion of the residents is the key.

◆Residents greet you, saying’Hojae’… Temporary property lockdown

The Ministry of Land, Infrastructure and Transport announced on the 24th that it will create a new city 4.3 times larger than Yeouido in Gwangmyeong and Siheung. The total supply reaches 70,000 households, and plans to proceed with advance subscription in 2023 and start selling in 2025. It plans to establish a railroad-oriented transportation system, and plans to connect Lines 1, 2 and 7, the Shinansan Line and GTX-B lines currently under construction, and the 2nd Gyeongin Line, which are undergoing a preliminary feasibility study.

After the announcement, some residents of the area are disgusted. It is expected that the expansion of the transportation network and the creation of large housing complexes will revitalize the region as a whole, and the sale price will increase along with the jeonse price like Pangyo and Hanam. There was also a temporary sale lockdown on news that it would be locked into a land transaction permission zone starting next month. The director of an A-licensed brokerage office near the Haan-dong Post Office intersection said on the 25th, “There are many people who have canceled their sales over the phone since the announcement yesterday (government).

◆ Over 100,000’supply bombs’ in 300,000 cities… No complaints about public initiative

Some voices are concerned about oversupply. In an area where the population is less than 300,000, the existing Gwangmyeong New Town redevelopment 40,000 households, Cheolsan Jugong redevelopment 10,000 households, and the current 70,000 households are at the level of a’quantity bomb’. There is also criticism that the land compensation for the third new city, which was announced in 2018, has not been completed, and that it takes more than 10 years to actually complete the new city, but only deals are tied. Professor Kwon Dae-jung of Myongji University (Department of Real Estate) said, “70,000 households are in a very large quantity, so they have no choice but to affect the southwestern part of the metropolitan area. It will take a considerable amount of time to complete the new city. ”Analyzed.

The area of ​​Guarim-dong, Siheung-si, Gyeonggi-do, which will be the 6th third new city, is seen on the 24th at Gahaksan, Gwangmyeong-si, Gyeonggi-do. Gwangmyeong = Newsis

Residents who wished for private-led development also showed dislike for the designation of public housing districts. ‘Gwangmyeong Siheung Residents’ Association’, the Gwangmyeong Siheung Land Owners’ Association, issued a statement by the government after the government announcement, saying, “A critical policy that shakes the right to live without a single procedure for collecting residents’ opinions. “I am amazed to announce the unilateral announcement.” “The government and local governments should explain the process of designating a new city through residents’ explanations, and present a rational plan to save the stability and reliability of the legal administration. If self-righteous and illegal administration continues, the residents of Gwamyeong Siheung will have no choice but to fight to protect the rule of law.”

◆Homework to be solved for the Guro vehicle base relocation and compensation problems

There is a possibility that the problem of relocation of Guro vehicle base on the 2nd Gyeongin Line could act as a detonator. The second Gyeongin Line, which is considered the core of traffic measures in Gwangmyeong and Siheung, was previously promoted under the condition of the relocation of the Guro vehicle base, but was caught in strong opposition from Gwangmyeong City.

The Ministry of Land, Infrastructure and Transport tried to relocate the Guro vehicle base to Gwangmyeong City from 2005 on the grounds of civil complaints such as noise and dust from the residents of Guro-gu, Seoul, but formed a joint countermeasure committee with Gwangmyeong-si provincial civic groups and demanded that the relocation project be cancelled. When the Guro vehicle base is relocated, the issue is sensitive enough to say that it is a bigger boon for Guro-gu, Seoul, rather than Gwangmyeong-si, where a new city is created. Immediately after the announcement of the designation of the new city, Park Seung-won, mayor of Gwangmyeong also clarified the objection once again, saying, “We absolutely opposed the relocation of the Guro vehicle base and requested a review of the relocation location in terms of mutual growth between regions.”

Park Seung-won, Gwangmyeong Mayor. Provided by Gwangmyeong City

Disputes over land compensation and relocation issues are also a mountain to overcome. The Gwangmyeong and Siheung areas were designated as Bogeumjari housing districts with a scale of 17.4 million m2 and 95,000 households from 2010, but were distorted by residents’ opposition. Eventually, the designation of the district was lifted in 2014, and in 2015, it was redesignated as a special management area to prevent difficult development. In particular, there are many places where small factories and houses are concentrated in this area, and there is a possibility that friction between residents and the government may arise due to moving and compensation issues.

Lee Eun-hyung, a senior researcher at the Korea Institute for Construction Policy, said, “These days, local governments and residents are more inclined to attract industrial complexes than bed towns, and high-tech industrial complexes rather than manufacturing businesses that produce hazardous substances.” It will emerge as a big challenge.”

Yoon Seong-won, the first vice minister of the Ministry of Land, Infrastructure, and Transport and officials from local governments are announcing the’New Public Housing Promotion Plan to Expand the Supply of Housing in Large Urban Areas’ at the Ministry of Land, Infrastructure and Transport of the Government Complex Sejong on the 24th. Sejong = News 1

The Ministry of Land, Infrastructure and Transport said that the designation of new towns in Gwangmyeong and Siheung was at the request of local governments and residents, so there would be no major difficulties. On the 24th, Kim Gyu-cheol, head of the Ministry of Land, Infrastructure, and Tourism Public Housing Promotion Manager said, “The reason why Gwangmyeong and Siheung were selected as new cities was because there were many requests for integrated development from residents.” He said he would make it.

Reporter Na Jin-hee [email protected]

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