After the basic plan for the Metropolitan Express Railway (GTX) Line A was announced, apartment prices near Dongtan Station and Guseong Station rose more than 20% compared with complexes around stations that play similar roles. Commercial land prices near GTX-A also jumped by more than 60% at most, indicating that the GTX plan announcement had a major impact on pushing up real estate prices near stations.
According to the Korea Research Institute for Human Settlements (KRIHS)'s recently published analysis titled "Impact of the opening of GTX-A (Suseo–Dongtan) in the Seoul metropolitan area" on the 4th, the announcement of the GTX-A construction plan was found to have raised apartment prices in areas around GTX stations by an average of about 18%.
The Korea Research Institute for Human Settlements (KRIHS) compared apartment prices within a 1,000-meter radius centered on GTX stations and in other areas over the three years before and after 2017, when the Ministry of Land, Infrastructure and Transport (MOLIT) announced the basic plan for GTX-A (2016–2018). The results used actual transaction prices from the publicly available real estate transaction price system and complex-level information from the spatial convergence big data platform.
By region, apartment prices around Dongtan Station in Hwaseong, Gyeonggi, rose about 29.2% compared with those near Byeongjeom Station, which plays a similar role in the vicinity.
Complexes near Guseong Station in Yongin, Gyeonggi, saw prices rise about 26.9% compared with the comparison group of Singal, Giheung, and Sanggal stations. Seoul's Suseo Station rose about 11.9% compared with Yongsan Station, and Seongnam Station in Seongnam, Gyeonggi, rose about 3.8% compared with Sunae, Jeongja, Migeum, and Ori stations.
Commercial land prices around GTX-A also rose sharply. Looking at land price growth compared with each comparison group, Dongtan Station was highest at 62.5%. Guseong Station followed with a strong increase of 41.4%. In contrast, Seongnam Station fell 2.5%. Suseo Station was excluded from the analysis due to an insufficient number of transactions during the study period.
The Korea Research Institute for Human Settlements (KRIHS) analyzed that GTX-A will significantly improve accessibility between Seoul and southern Gyeonggi, accelerating the shift to public transit and reducing travel time by about 20%–60%.
The GTX-A line is a metropolitan high-speed rail of about 82 kilometers connecting Unjeong in Paju, Gyeonggi, to Dongtan in Hwaseong, with 11 stations. On Mar. 30 last year, the Suseo–Dongtan section opened first, and on Jun. 29, Guseong Station also began service.
On Dec. 28 last year, the Unjeong Jungang–Seoul Station section opened, and next year the Seoul Station–Suseo section is scheduled for consolidation. Samseong Station is under construction with the goal of opening in 2028.
A Korea Research Institute for Human Settlements (KRIHS) official said, "If sufficient sites for essential GTX-related facilities such as station-area development, park-and-ride lots, and entrances are not secured in the process of establishing GTX development plans, it will lead to higher real estate prices around stations," adding, "From the planning stage, sites for GTX facilities should be secured preemptively, and local governments should also establish development plans for areas linked to GTX to reduce the impact on real estate prices around GTX areas."