As new towns with nearby railway stations drive up local property prices, interest in the "future transit-oriented development" blocks is increasing. In these new towns, even with shared amenities like schools, parks, and commercial facilities, residential areas within walking distance to actual railway stations are limited. Consequently, demand for properties near planned railway stations is rising even before their opening.
According to Real Estate R114, the price per 3.3 square meters for "Geumdan New Town Woomeelin The Signature" near Ara Station on Incheon Urban Railway Line 1 reached 23.41 million won in the first half of this year, 89.2% higher than the average of 12.37 million won in Geumdan New Town. Major transit-oriented developments in new towns are forming prices above the average for their respective areas.
Similarly, the price per 3.3 square meters for "Gwanggyo Nature & Hills State" near Gwanggyo Central Station was 52.78 million won, 25.8% higher than the Gwanggyo New Town average of 41.96 million won. The "Alpharium Complex 1" near Pangyo Station also saw a price of 63.45 million won per 3.3 square meters, exceeding the Pangyo New Town average of 55.29 million won by 14.8%.
Demand for properties near stations has also been confirmed in the subscription market. This year, "Hoban Summit Pungmu II," supplied in the Gimpo Pungmu Station area, received 3,072 applications for 533 units in the first round of subscriptions, resulting in an average competition ratio of 5.76 to 1. Following this, "Hoban Summit Pungmu III" attracted 2,443 applications for 266 units, achieving an average of 9.2 to 1.
Meanwhile, new supply in future transit-oriented developments continues in the metropolitan area and public housing sites. Namkwang Construction plans to launch "Bucheon Daejang House Story Descent" in Block A-2 of the Bucheon Daejang public housing district in October. This public offering apartment, supplied by a consortium of LH and Namkwang Construction, will consist of 548 units.
The development will be located near Daejang Station on the Daejang Hongdae Line, which aims to connect Bucheon Daejang to Hongdae Station in Seoul's Gangseo and Yangcheon districts, covering 20.1 kilometers with 12 stations, with a target opening in 2031. Additional transport networks, including GTX-D and S-BRT, are also planned.
Hanwha Construction plans to offer "Hanwha Forena Gije Station" in Pyeongtaek's Segyo-dong in October, consisting of 1,098 units, allowing residents to enjoy the Gije Station living area. Posco E&C will launch "The Shop Cheonan Lacone" in the Buseong 2 urban development area in Cheonan, while Lotte Construction will offer "Gyeonggi Gwangju Station Lotte Castle Signature Complex 2" in Sangnyeong-dong, Gwangju, also in October.
As the premium for transit-oriented developments is reflected in prices and subscription results even before the railway network opens, factors such as distance to planned stations, transfer capabilities, and the development of surrounding commercial and business areas are expected to be key considerations in the new town sales market.
* This article has been translated by AI.
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