The average sale price of dwellings in Gwacheon, Gyeonggi Province, has risen to 58 million won per 3.3 square meters, surpassing Yongsan-gu, one of the key areas in Seoul. Some major apartment complexes in key areas of Gwacheon, including Gwacheon Station and Government Gwacheon Office Station, are being sold for nearly 70 million won per 3.3 square meters. Experts expect that due to the establishment of the Gyeonggi Urban Express Railway (GTX) Line C and the completion of the Knowledge Information Town, house prices in the Gwacheon area will continue to remain at a high level.
According to Zigbang on the 22nd, the house price in Gwacheon as of December stood at 58.95 million won per 3.3 square meters. This is a 20.9% (10.21 million won) increase from the 48.74 million won recorded a year ago. This is over 1 million won higher than Yongsan-gu, considered a key area among Seoul's autonomous districts, where the average price is 57.43 million won per 3.3 square meters. It is 12 to 20 million won higher than Bundang in Seongnam (38.11 million won per 3.3 square meters) and Pangyo (46.27 million won per 3.3 square meters).
The values of complexes near Gwacheon Station and Government Gwacheon Office Station, considered key areas in Gwacheon, are particularly high. On December 26 last year, a 59 square meter unit of Central Park Gwacheon was sold for 1.65 billion won, which is equivalent to 68.75 million won per 3.3 square meters. On the 20th of the same month, a unit of the same size in Wonmun-dong called Gwacheon Weverfield was sold for 1.7 billion won (65.38 million won per 3.3 square meters). These complexes are adjacent to Gwacheon Station and Government Gwacheon Office Station. The Raemian Gwacheon Central Suite in Byeolyang-dong and the Raemian Shure in Wonmun-dong are also trading around 14 billion won, with prices of about 60 million won per 3.3 square meters.
There is a significant gap compared to Yangji Village, Bundang-gu, Seongnam, where Geumho stands at 56.13 million won per 3.3 square meters and Yangji Village Complex 2 Cheonggu at 47.29 million won per 3.3 square meters. These complexes are among the first designated for reconstruction in the first new town, but they still fall short of the average sale price in Gwacheon.
Experts believe that the lack of harmful facilities and good access to Gangnam contribute to the rise in house prices in Gwacheon. They also expect that the potential for high house prices will be maintained due to the Knowledge Information Town and the consolidation with GTX Line C. The Knowledge Information Town is an urban development project covering 1,353,090 square meters (about 410,000 pyeong) in Galhyun-dong and Munwon-dong, with a project cost of 1.684 trillion won, which completed its first phase in June last year and is scheduled for its second phase this June. The GTX Line C, aiming to open in 2028, will connect to Yangjae after Gwacheon, with the next station being Samsung.
Professor Park Hapsu, an adjunct professor at the Konkuk University Graduate School of Real Estate, noted, "The area is highly regarded for its residential environment due to its good access to Gangnam, adjacency to Seocho-gu, and the almost complete absence of harmful facilities such as bars, leading to a favorable educational environment. Specifically, complexes near Gwacheon Station and Government Gwacheon Office Station are in key locations." He added, "With the improvement in access to Gangnam after GTX Line C, it will also have an impact on future house prices."
Ham Young-jin, head of the real estate research lab at Woori Bank, said, "Expectations for major development projects in Gwacheon, such as the Knowledge Information Town, are also affecting the rise in house prices."