The real estate markets in Wonju and Chuncheon, Gangwon Province, are thriving with expectations for the expansion of the metropolitan express train (GTX).
Wonju, which is set to have a direct route to Gangnam, is showing signs of recovery in buyer sentiment, increased transaction volume, and a decrease in unsold properties, while apartment prices in Chuncheon, where extensions to Yeouido and Seoul Station are planned, are also on the rise.
According to the Korea Real Estate Board (REB) on the 25th, the transaction volume for apartment sales in Wonju from January to April this year reached 2,029, a rise of about 58% compared to the same period last year (1,287). According to data from the Ministry of Land, Infrastructure and Transport, the number of unsold units in Wonju, which peaked at 2,096 households last June, has decreased to 849 households as of April, a drop of about 59%.
Chuncheon is also showing a distinct upward trend in apartment prices recently. According to the Korea Real Estate Board (REB), apartment prices in Chuncheon have increased by 1.28% this year. Notably, it recorded a rise for eight consecutive weeks from the fourth week of April to the third week of June.
Gangwon Province continues to develop a metropolitan transportation network centered around major cities such as Wonju, Chuncheon, and Gangneung, significantly enhancing connectivity with the capital region. Among these, Wonju and Chuncheon, where GTX extension plans are underway, are considered direct beneficiaries.
According to the plan for new GTX lines, Wonju will have the GTX-D line, which connects through Gangnam to Gimpo and Incheon. Additionally, Chuncheon is pushing for the extension of the GTX-B line, which connects Songdo to Yeouido, Seoul Station, Cheongnyangni, and Masok.
In the second half of this year, new apartment launches are expected in Wonju and Chuncheon.
According to Real Estate 114, Woomi Construction plans to launch 'Wonju Station Woomi Lin The Stella' in August in the Namwonju Station area, AC-5 block. It will consist of five buildings, with a maximum height of 43 floors and a total of 927 units. All units will be a single area of 84㎡. This ultra-convenient apartment is situated within walking distance of KTX Wonju Station, and together with the previously launched 'Wonju Station Woomi Lin The Sky' (900 units), it will form a brand town with a total of 1,827 units.
In Wonju, the first supply of the public support private rental promotion district in the Wonju Musil area is also planned. A total of 560 units, consisting of both public sales and public rentals, will be showcased in the A2 block, with 295 units being released for public sale.
In Chuncheon, Dongmun Construction plans to present 'Chuncheon Mancheon-ri Dongmun The East (tentative name)' next month in the Dongmyeon area. The development will encompass a total of 569 units and boasts excellent accessibility to Chuncheon's main living infrastructure.
A representative from the real estate industry noted, "Wonju and Chuncheon are cities that already have KTX stations, and once GTX is operational, accessibility to the capital region will dramatically improve," adding, "As accessibility to Seoul and the surrounding area expands, the real estate markets in Wonju and Chuncheon will continue to thrive."