3rd in the afternoon, after walking about five minutes from Exit 1 of Myeonghak Station on Seoul Subway Line 1, the fence of the redevelopment construction site for the Sangnok District in Anyang-dong, Manan District, Anyang, Gyeonggi, came into view. Across from the site, aging commercial areas centered on the Seonggyul University college district could be seen. Looking beyond the fence, construction equipment had entered and workers were moving busily.
This is the construction site of Anyang Xi Herition being built by GS Engineering and Construction. The complex appeared to be more than enough to be evaluated as having both station-area access and forest-area access. It took less than a five-minute walk from Myeonghak Station, and Surisan Mountain bordered the back (south) of the construction site.
The complex will be built with five underground floors to a maximum of 29 above-ground floors, 17 buildings, and a total of 1,716 households. Of these, 639 households are scheduled to be offered for general sale this month. True to form for a mega-complex of more than 1,700 households, the construction site was large. Excluding Surisan Mountain, which borders the complex, it took about 10 minutes (based on an adult male in his 30s) to walk around roughly half of it.
The fact that it is a new complex for sale with rare station-area and forest-area access in Anyang is also cited as a strength. In particular, general sales are focused on small to mid-size units with exclusive areas of 49 square meters and 59 square meters, drawing interest from end users. In the real estate market recently, small to mid-size apartments are coming to the fore as practical housing alternatives as demand converges from one- to two-person households, downsizing demand from people in their 50s and 60s seeking to reduce their housing size after their children become independent, and newlyweds and young workers seeking to buy their first home.
An official at Anyang-dong A Licensed Real Estate Agency said, "Some prospective buyers are disappointed that there are few general-sale units of the 84-square-meter size known as the national standard, but recently the 59-square-meter units have been popular, so we are getting quite a few inquiries," adding, "Some people are unhappy that the sales schedule has been delayed, but that seems to reflect the level of anticipation."
With a Myeonghak Station "station-area" location, you can travel to major business districts such as Seoul Station, Yongsan Station, and Gasan Digital Complex Station without transfers. Geomjeong Station and Anyang Station, each one stop from Myeonghak Station, are slated for transportation boosts such as the Great Train eXpress (GTX) Line C and the Wolpan Line.
As a forest-area complex bordering Surisan Mountain to the south of the complex, some buildings will have views. Generally, complexes that abut mountains are often located on slopes, but Anyang Xi Herition does not have steep grades, and inside the complex, differences in elevation will be used to create community spaces and more.
Development catalysts in the Anyang area are also expected to have an impact. The site of the military ammunition facility in Bakdal-dong is slated for Bakdal Smart City, and the former Animal and Plant Quarantine Agency site will be developed into an administrative complex town that will include Manan District Office and Anyang City Hall.
Within walking distance to the south of the complex is Myeonghak Elementary School, and students can walk to schools such as Seongmun Middle School and Seongmun High School. Nearby are also Shinsung Middle School and Shinsung High School, which are highly favored in the area. Although the distance to the Pyeongchon private academy district, one of the representative cram school zones in the Seoul metropolitan area, is somewhat awkward, it is easy to reach by car or bus.
It was unfortunate that the nearby commercial districts were outdated. Most of the shops across from the complex were in buildings five stories or lower, and even those were aging. However, those shops are also slated for redevelopment. The redevelopment around Seonggyul University received approval for a promotion committee for the establishment of a cooperative 5th.
There are concerns that the recent slump in the real estate economy will also affect subscription results. An official at Anyang-dong B Licensed Real Estate Agency said, "It's a sale being held in the area for the first time in a while, and the location is good with station-area, forest-area, and school-area access," adding, "However, the real estate economy is in a slump recently, and the location is not the main area of Anyang, so the heat is not intense. In Manan District, it is one of the few prime locations, so we are hopeful."
The sale price of Anyang Xi Herition has not yet been disclosed. Experts believe the price will not be set unreasonably. Park Ji-min, head of Wol-yong Subscription Research Institute, said, "The location is not the main one in Anyang, but it is a station-area mega-complex with a major construction brand, so it can gain recognition," adding, "Compared with Gwangmyeong and Uiwang in the metropolitan area, where high sale prices have recently been set, the location advantage is slightly lacking, so the sale price is likely to be judged reasonable. If the sale price is set in the mid-$800 million to $900 million range for the 59-square-meter exclusive unit, subscription results would be promising."
He added, "Anyang once saw active sales through redevelopment and reconstruction, then entered a lull, during which complexes that occasionally went on sale posted good results. Demand within the Anyang area has remained steadily robust."