Although the Great Train Express (GTX) is cited as a key transportation boon for the Seoul metropolitan dwellings market, the gap between northern and southern Gyeonggi is widening. In major areas of southern Gyeonggi, record-high prices continue as jobs and existing transit networks add to the GTX, while in northern Gyeonggi, despite the opening of the GTX and progress on lines, the recovery to past peaks is slower and the burden of unsold homes is growing.
According to the sales industry on the 28th, IPARK Hyundai Development Company is selling the remaining units on a first-come, first-served basis for Unjeong IPARK Forest, supplied to the Paju Medical Cluster in Seopaedong, Paju, Gyeonggi, under terms such as a 5% down payment and a first down payment of 10 million won.
This complex consists of 25 buildings with 2 basement levels to 29 above-ground floors and 3,250 households, with move-ins scheduled for Dec. 2028. The sale price is in the mid-570 million won range for 74 square meters exclusive, and between the mid-560 million won and mid-660 million won range for 84 square meters exclusive, depending on building and floor. Although it touted GTX-A and the development of a medical industrial complex, it lowered the initial down payment burden to clear remaining units.
Even after the opening of GTX-A, major apartments in Unjeong have not returned to their past peaks. The 84-square-meter exclusive at Unjeong New Town IPARK rose to 970 million won in 2021, but was transacted at 739 million won in March this year. Although the GTX-A section connecting Unjeongjungang Station and Seoul Station opened in Dec. 2024, it is more than 200 million won below the peak.
The area around KINTEX in Goyang is similar. The 84-square-meter exclusive at KINTEX One City Block 2 near GTX-A KINTEX Station transacted at 1.375 billion won in March this year, but transactions in the 1.1–1.2 billion won range followed. It falls well short of the previous peak of 1.655 billion won.
Uijeongbu and Yangju, which the GTX-C passes through, face both delays in the line project and the burden of new dwellings supply. Hills State Hoeryong Station Park View, which went on sale in Uijeongbu last year, drew an average competition rate of 1.79 to 1 for 543 households, and some unit types failed to fill their quotas. In Yangju, about 2,000 unsold dwellings have piled up, and it has been re-designated as an unsold-home management area.
By contrast, record-high transactions continue in key areas of southern Gyeonggi. The 84-square-meter exclusive at Dongtan Station Lotte Castle, connected to GTX-A Dongtan Station, set a new record last month with a transaction at 2.225 billion won. The 84-square-meter exclusive at e-Pyeonhansesang Guseong Station Platform City near GTX-A Guseong Station also rose to 1.58 billion won this year. The 84-square-meter exclusive at Seongbok Station Lotte Castle Gold Town in Suji District, Yongin, connected to the Shinbundang Line Seongbok Station, saw a record-high transaction at 1.805 billion won on the 15th.
Industry officials say the strength in southern Gyeonggi is not solely the effect of the GTX. Dongtan, Yongin, and Yeongtong in Suwon have underlying demand centered on Samsung Electronics and semiconductor industrial complexes, and existing transit networks such as subways and expressways and living infrastructure are relatively well established.
An official in the construction industry said, "The GTX reduces travel time to Seoul, but it does not create jobs and dwellings demand in the area," adding, "In areas with jobs and established transit networks, the GTX effect can grow, but in areas with heavy supply burdens and insufficient self-sufficiency, the effect is inevitably limited."