The layout is really well done.
Applications open in December for blocks A-24 (Newlywed Hope Town) and B-17 (public sale) in the Wangsuk district of Namyangju, Gyeonggi, which has good access to Seoul even within the third new towns by using metropolitan transit such as the Metropolitan Express Railway (GTX)-B. Eleven blocks with about 8,000 dwellings are currently under construction, and groundbreaking for about 10,000 dwellings is scheduled for next year.
On the 27th, we visited the housing exhibition hall for Namyangju Wangsuk A-24 and B-17 blocks of the Korea Land & Housing Corporation (LH) in Byeollae-dong, Namyangju, Gyeonggi. The first floor had visitor consultation booths and a complex model, and the second floor featured sample dwellings for A-24 55 square meters type D and B-17 84 square meters type A. The sample dwellings reflect the latest trends by enlarging the living room and kitchen and expanding storage functions such as pantries and dressing rooms. Options that residents can directly customize and choose were also strengthened.
Blocks A-24 and B-17 are also considered to have good locations in terms of transportation. This is a triple-station area where Wangsuk Station (provisional name, scheduled to open), the intersection of three lines—GTX-B, the Gangdong-Hanam-Namyangju Line (Line 9 extension), and the Gyeongchun Line—can be reached on foot. In fact, near the Site 1 construction zone of the Wangsuk public housing district development project visited that day, we could see the Jinjeop Line, the northeastern extension of Line 4. Nearby are also Line 8 (Byeollae Station), the Metropolitan No. 1 Beltway, and the Sejong–Pocheon Expressway.
Sale prices are set at about 18.8 million won per 3.3 square meters (pyeong). Considering that nearby apartments with an exclusive area of 84 square meters are priced in the 1.1 billion won range, it is reasonable. For A-24 block, the 55 type averages in the mid-460 million won range; for B-17 block, the 74 type averages in the mid-560 million won range and the 84 type is in the mid-640 million won range. Applications open from Dec. 8, with winners to be announced on the 23rd–24th of the same month. Move-in is scheduled for December 2028. The sample dwellings can be viewed from the 28th by those who applied in the advance application.
Park Eun-jung, Vice Administrator at LH's Northern Gyeonggi Regional Headquarters, said, "The Namyangju Wangsuk district drew strong interest from end users without homes, recording a subscription competition rate of up to 71 to 1 at the time of the initial supply," adding, "Given the excellent location and sales prices lower than market levels, we expect the final subscription rate to be higher than in neighboring areas."
According to LH, over the past 10 years, Namyangju has absorbed housing demand from the Seoul area, with a net inflow of about 108,000 people from Seoul. An analysis of the residences of applicants for subscription to seven blocks including Namyangju Wangsuk A1 that LH announced from the start of this year through September found that 26,000, or 41% of the total 63,286 applicants, were Seoul residents.
In particular, subscription applications were concentrated in Seoul's Gangdong, Nowon and Jungnang districts, which have large inflows to Namyangju. The residential areas of subscription applicants were was found to be very similar to the distribution of previous Seoul residences among the population inflow to Namyangju. Kim Jeong-eun, Head of Team at LH's Northern Gyeonggi Regional Headquarters, said, "Through continued supply of dwellings, including the third new towns, we expect to disperse and absorb the dwelling demand of Seoul residents."
What stood out at the construction site visited before the housing exhibition hall that day was systemized safety management. In line with the government's policy to speed up the supply of dwellings in the third new towns, all processes must be carried out simultaneously in the Wangsuk district. With multiple contractors, large equipment and personnel inevitably mixed, LH partitioned traffic flows and times by physically separating the dump haul roads for civil works and the haul roads for building materials. It is also creating an integrated safety and health center, spending 60 billion won, to handle emergency measures for on-site safety accidents and manage workers' health.
In addition, next month, A-3 block (Newlywed Hope Town, 208 households) and B-1 block (public sale, 260 households) in Namyangju Jinjeop 2 district, adjacent to the Wangsuk district, are to be supplied. An industry official said, "Namyangju has drawn interest because it skirted restrictions from the Oct. 15 real estate measures and has relatively strong access to Seoul," adding, "In particular, public-sale volumes have the advantage of using the price-ceiling system and low-interest loan products."