Where is the new residential area in the metropolitan area? (CG)▶ Click here to enlarge
Among the 2·4 housing supply measures, the market is paying attention to new public housing in the metropolitan area, which the government is working on.
The Ministry of Land, Infrastructure and Transport is planning to create a state-of-the-art city that realizes the Green New Deal, a Korean version of the New Deal, which the government actively promotes, in 15 to 25 new public housing sites nationwide.
The total number of houses supplied as new residential lands across the country is 263,000 households, but 180,000 households in the metropolitan area, which are the 4th new city level, are of interest. This accounts for about 30% of the 616,000 households supplied from the metropolitan area including Seoul and 61% of the 293,000 households supplied to Gyeonggi-do and Incheon.
◇ Housing site selection for the first half of the year… Developed as a luxury high-tech city
The urban maintenance project takes a long time to supply housing due to the involvement of stakeholders. Therefore, it has become important to discover attractive new housing sites in the metropolitan area and how quickly housing can be supplied.
In a recent interview with Yonhap News, Minister of Land, Infrastructure and Transport Byeon Chang-heum said, “The candidates for new housing sites that are comparable to those of the 3rd new town are almost confirmed, and as soon as the local government’s consultation is completed, we plan to disclose the detailed location and volume in two or three times in the first half.” Said.
Deputy Prime Minister Hong Nam-ki also said, “We will complete the announcement of the candidate site quickly from the first quarter to the second quarter while thoroughly preparing details such as the decision of the division,” at a meeting of the relevant ministers for real estate market inspection on the 17th. We expect the procedure to be in full swing.”
The government is planning to distribute housing and business functions in Seoul by building infrastructure and self-sufficiency functions such as transportation networks suitable for local conditions for housing supplied to new housing sites.
The concept of the new residential site is’Green City’. It was decided to realize the Green New Deal, which the government is willing to pursue, through securing sufficient urban green space and building zero energy construction and hydrogen infrastructure. Green mobility infrastructure such as electric vehicles and hydrogen vehicles will also be expanded.
The idea is to create a convenient and livable city by closely establishing a life SOC that provides childcare, childcare, culture, and welfare services. Professor Kwon Dae-jung of the Department of Real Estate at Myongji University said, “If we build mini cities in the metropolitan area where transportation, education, environment, and work are well harmonized, we can alleviate the concentration of population and resources in Seoul.”
◇ Increased interest in location… Land prices in the rumors of the region’excited’
The government decided to “select the new housing site in the metropolitan area, taking into account development conditions such as transportation, centered around Seoul or areas with good accessibility to Seoul.”
If this standard is followed, there is a high possibility that the wide-area transportation network system such as railroads and roads is already established, and it is relatively close to Seoul or adjacent to the third new city. This is because it takes time and enormous costs to maintain core infrastructure such as transportation networks. As the government intends, in order to speed up the supply of housing, there is no choice but to climb into the existing transportation system or infrastructure of a new city.
Therefore, some of the markets are predicting that a mini-satellite city that shares transportation infrastructure in the area around the third new city will be possible. New housing sites may also appear in areas where the GTX (GTX) A (Unjeong-Dongtan), B (Songdo-Seoul Station-Maseok), C (Yangju-Suwon) lines or the Sinansan Line pass.
There is a possibility that candidates will come out in Gochon, Gwangmyeong, and Siheung, which have been named as regulars whenever there is a story about a new city such as Wonheung, Goyang, which was excluded due to the leakage of information in advance after being on the waterfront of the 3rd new city.
In accordance with the residential welfare roadmap, etc., new housing sites can be created by expanding the site even in places where housing site development has already been announced.
Go Jong-wan, director of the Korea Asset Management Research Institute, said, “As new housing sites are not falling from the sky, I think that they will come out of areas that were planned or reviewed in the past.”
Professor Kwon Dae-jung said, “There are many lands in Gyeonggi-do and Incheon where the government can build a mini-city if the government wants to,” he said. “The key is transportation networks such as roads and railroads, which are the most important infrastructures.”
In areas that are named as candidates for new housing sites, land sales are decreasing and prices are rising. A real estate agent in a region that was previously mentioned as a candidate site for a new city said, “The number of people who offered to buy land increased, but the number of sales was reduced and only quotes were running.” Another local real estate agent also said, “Inquiries to purchase are increasing and land prices are rising, but there are not many for sale.”
If the number of new housing sites increases, the government will need to accelerate the selection of candidate sites as land speculation can rise.
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