As the Gwangmyeong Siheung District, Gyeonggi Province, was selected as the sixth third new city in the metropolitan area on the 24th, concerns about the oversupply of housing in the Gwangmyeong City area are growing. In the area of Gwangmyeong-dong, Gwangmyeong-si, maintenance projects such as redevelopment and reconstruction of 40,000 households are in progress. Reporter Kim Beom-jun [email protected]
“Since the announcement of the 3rd new city addition, residents are inquiries about’Isn’t it necessary to sell my house?’” (Kim Jong-cheol, CEO of Gwangmyeong New Town, 10 billion official)
Brokers in Gwangmyeong New Town and reconstruction complex near Gwangmyeong Siheung District, Gyeonggi-do, were busy answering phone calls asking about price trends and future sales times on the 25th. This is because the government announced a plan to develop the Gwangmyeong Siheung District with a capacity of 70,000 households on the 24th, and was hit with a’supply bomb’ that is twice the volume of the existing maintenance project. When the Gwangmyeong Siheung District, the existing Gwangmyeong New Town Districts 1-16, and the volume of the reconstruction complex are combined, a total of 110,000 households will be supplied by 2028. Residents in the Gwangmyeong New Town area are selling their apartments for fear of a decline in the price of apartment occupants. Landlords in the Gwangmyeong Siheung District are also at odds. If you are included in the new city, you will only receive compensation, but if you are outside, you can expect large-scale development benefits.
○’Supply Bomb’ accumulates for sale and prices fall
According to a brokerage agency in Gwangmyeong City on that day, the market price is also falling slightly as inquiries about selling pre-sale rights near Gwangmyeong New Town continue. The exclusive area of 84m2 above the pre-sale area of Gwangmyeong New Town is 600 million to 700 million won, and 59m2 for exclusive use is 450 to 500 million won. An official from Gwangmyeong New Town B official said, “After the announcement of the 3rd new town, the amount is showing signs of decline.” Real estate experts predict that the general real estate tax rate for multi-homed people will rise and sudden sales will be poured out before June when the heavy tax rate for transfer tax rises.
There is a high possibility that a’quantity shock’ will become a reality when entering a new city in Gwangmyeong, where maintenance projects are more active than Seoul. Gwangmyeong New Town Districts 1~16, Cheolsan Jugong Complex 4 and 7, 8·9 and 10·11 complexes are at the end of the maintenance project. Among the reconstruction, Cheolsan Jugong Complex 4 (798 units) started moving in this month, and Cheolsan Jugong Complex 7 (1313 units) is scheduled to be completed in March next year. In addition to Gwangmyeong Siheung District, Gwangmyeong New Town 11 business sites and 4 reconstruction (30,000 households), Gwangmyeong Riverside 2 Public Housing District (4920 households), Gwangmyeong Siheung R&D (R&D) residential complex (4800 households) are waiting in line. This is the reason for the voice of the voice of the voice that “isn’t it the price of the house in Seoul, but the price of the house in Gwangmyeong?”
The government plans to proceed with this subscription from 2025 after making a pre-subscription in 2023 in Siheung District, Gwangmyeong. In the industry, the first move-in is expected to take place from 2028, considering that it usually takes 2-3 years to move in after subscription. However, there are also observations that the total price of the Gwangmyeong area may increase ahead of the pre-subscription and main subscription. In large-scale housing development districts, you must live for at least two years to qualify for the first priority in the region. A K-authorized official in Cheolsan-dong said, “There is a high possibility that the rental price will rise sharply due to the amount of waiting for subscriptions and relocation to the third new city.”
○One after another of land doors around the residential district
Inquiries about land purchase were made around areas designated as the 3rd new towns, such as Goerim-dong and Noonsa-dong, Gwangmyeong-si. Noonsa-dong C official said, “The land around the residential district can benefit from the development of a new city, so there are many investors looking for the land.” With the prospect that this area will be designated as the third new city, the land price per 3.3 square meters has jumped 400,000 to 500,000 won in the next few months. Until recently, the land price per 3.3m2 was traded in the range of 2.5 million to 3 million won.
Inquiries from land owners continued to ask,’Is my land included in the housing district?’ This is because the land price varies greatly depending on whether or not the housing district is included. Areas adjacent to residential districts can expect large-scale development benefits. A K-authorized official in Goorim-dong said, “The land in the residential district is likely to be liquidated in cash, so we are unable to recommend transactions.”
The fact that the residents of Gwangmyeong oppose the designation of the new housing district is expected to be a variable. The reason why Gwangmyeong was excluded from the 3rd new town is because the local people’s backlash was stronger than expected.
When the Gwangmyeong and Siheung landlords’ meetings were included in the 3rd new town, they said, “I am amazed that the new housing site was announced unilaterally without collecting residents’ opinions. Pointed out.
Reporter Bae Jeong-cheol [email protected]