17 railways, including GTX-A, will open next year... Nearby house prices also start to rise

Registered 2023.11.19 13:31:10 Modified 2023.11.19 13:41:29

GTX-A route opening account in March next year

Hwaseong Dongtan apartment price exceeds 2 billion won

Attention is drawn to Line 8 extension and Hongseong Songsan Line.

[Seoul = Newsis] Reporter Kwon Chang-hoe = On the morning of the 21st, a test drive event for the Suseo-Dongtan section of the GTX-A railway vehicle was held at the SRT platform at Suseo Station in Gangnam-gu, Seoul. The photo shows the actual operating vehicle of the GTX-A released on this day. 2023.09.21. kch0523@newsis.com

[Seoul = Newsis] Reporter Go Ga-hye = While a large number of new railway lines, such as the Seoul Metropolitan Rapid Transit (GTX)-A, are scheduled to open throughout the country next year, interest is also gathering in the positive effects of the nearby real estate market due to the opening of the railway.

According to Future Rail DB, a railway route information site, on the 19th, there are a total of 17 railway lines scheduled to open nationwide next year. This is the highest number ever since related counting began in 2002.

In particular, the GTX route, which has excited the real estate market from the development planning stage, is scheduled to open in earnest from 2024. President Yoon Seok-yeol, who attended the 'Metropolitan Transportation National Meeting' held at Dongtan Station in Hwaseong, Gyeonggi Province on the 6th, announced that the GTX-A Suseo-Dongtan section will be opened early at the end of March next year.

Accordingly, the GTX-A Suseo-Dongtan section, which has the fastest project progress, is scheduled to open in March next year, and the Paju Unjeong-Seoul Station section is scheduled to open in the second half of next year. In addition, the Seoul Station-Suseo section is expected to open around 2025, and the Samseong Station stop is expected to open after the second half of 2028. GTX has a maximum speed of 180 km, which is more than twice the speed of the subway (80 km per hour), so it is calculated that when opened, it will be able to reach from Dongtan in Hwaseong to Samsung Station in 20 minutes, and from Unjeong in Paju to Samseong Station in 23 minutes.

The industry believes that once GTX-A opens in earnest, it will have a strong impact on the overall nearby real estate market. Typically, real estate in areas near railway lines is affected whenever the route plan is announced, construction begins, or completion.

In particular, prices in some areas, such as Paju Unjeong Town and Hwaseong Dongtan New Town, at both ends of the route, have already risen sharply in recent years with the start of GTX construction. According to the Ministry of Land, Infrastructure and Transport's actual transaction price system, 'Dongtan Station Lotte Castle' in Osan-dong, Hwaseong-si, with an exclusive area of 102 m2, was sold for 2.1 billion won (25th floor) last September, exceeding 2 billion won. The exclusive area of 84㎡ was also traded for 1.62 billion won (48th floor) on the 18th of last month, recording a reported price. In addition, 116㎡ exclusively for ‘Dongtanlin Strauss the Lake’ in Songdong was sold for 2 billion won (22nd floor) on the 5th of last month.

Expectations for the GTX-A route are also growing in the sales market. 'Dongtan Lake Park Nature & e-Pyeonhan World' in Dongtan 2 New City recently received first-priority applications, with 133,042 people flocking to recruit 554 households, excluding special supply, recording an average competition rate of 240.15 to 1. ‘Paju Unjeongdo City Woomirin The Centum’, which went on sale last week, also achieved good results with an average competition rate of 108.78 to 1 in the first-price subscription.

Panoramic view of Dongtan New Town (Photo = Provided by Hwaseong City) *Resale and DB prohibited

In the metropolitan area, interest is also focused on the opening of the subway Line 8 extension (Byeolnae Line) along with GTX-A. The newly opened Line 8 extension connects Amsa Station to Namyangju Byeolnae Station, and is expected to bring improved transportation effects to the Namyangju area and Guri City.

The Hongseong Songsan Line, which connects the West Sea Line to Hongseong, South Chungcheong Province, will also open in the second half of next year. However, since the Songsan-Wonsi section has not yet opened, it is expected to take more time to connect the entire route to the Ilsan-Sosa section, north of Songsan.

In regional areas, routes such as the 32.7km Bujeon Masan Line are scheduled to open. The Bujeon-Masan Line connects Bujeon Station in Busanjin-gu, Busan and Masan Station in Masanhoewon-gu, Changwon-si, reducing the travel distance from Masan Station to Bujeon Station from 1 hour and 20 minutes to 38 minutes.

The government's position is that it will proceed without a hitch with the construction of railway lines such as the B line and C line, following the GTX-A line. Baek Won-guk, Second Vice Minister of Land, Infrastructure and Transport, said, "As President Yoon directly emphasized the rapid promotion of GTX, it is necessary to proceed without a hitch, starting with the start of construction on Line C at the end of the year and the opening of Line A and B next year." He added, "For the first time in March next year. “Following the opening of the Suseo-Dongtan section, the Paju Unjeong-Seoul Station section should also open as planned at the end of next year,” he said.

Experts say that although housing prices in areas benefiting from railway routes, such as GTX, are showing a rebound this year, there is a possibility of prices overheating, so a cautious approach is needed.

Park Won-gap, senior real estate expert at KB Kookmin Bank, said, “These days, apartment prices in the metropolitan area dance along the GTX route, which will bring about a transportation revolution. Dongtan, Suwon Yeongtong-gu, Indeokwon, Uiwang, and Songdo, where apartment prices fell sharply in the metropolitan area last year due to the high interest rate shock from the United States, “They are all GTX-beneficiary areas, and are leading the rebound as market conditions improve this year,” he said. “However, price fluctuations may be greater than in other regions, so we must approach with caution when they show signs of overheating.”

◎ Sympathetic media Newsis gahye_k@newsis.com

Copyright © NEWSIS.COM, unauthorized reproduction and redistribution prohibited

https://newsis.com/view/?id=NISX20231119_0002526794&cID=10401&pID=10400