70,000 new cities in Gwangmyeong-Siheung
Neighborhood Concerns-Expectations Cross
As the government has additionally designated the Gwangmyeong and Siheung districts in Gyeonggi Province as the third new city following the 2nd and 4th supply measures, the reactions of residents in nearby areas are mixed. Residents in the old city center of Gwangmyeong, where there are many rebuilt apartments, are worried about a drop in house prices, while residents of Siheung, which had been delayed for more than 10 years, welcomed the development. Residents in Geumcheon and Guro-gu, Seoul, close to Gwangmyeong and Siheung districts, expressed their expectation that they will become the central axis of the southwestern area of Seoul in the outskirts of Seoul.
○ Siheung, which was sluggish in development, “Welcome”, Gwangmyeong old city center is “concerned”
Local residents who will be designated as new urban housing sites generally welcomed the government announcement. In a situation where development has been sluggish for more than 10 years, the expectation of land compensation has increased due to the development of a new city. The Gwangmyeong and Siheung districts were designated as Bogeumjari housing districts in 2010, but the designation of the districts was lifted in 2015 due to difficulties in the project due to the opposition of residents such as the old downtown of Gwangmyeong. “There are many people who own factories or commercial lands rather than houses,” said a nearby L certified representative. “As real estate prices have risen since last year, the amount of land compensation is expected to be large.” On the other hand, some residents of the old downtown of Gwangmyeong regarded the announcement of the new town as a bad news. With a total of 25,000 units in Gwangmyeong New Town redevelopment project in full swing, there are concerns that house prices may fall if 70,000 new cities are added. Right now, 3,300 units will be supplied in Gwangmyeong District 2 in May this year. An official from Gwangmyeong’s old downtown C official said, “New Town, which is about to be sold, is a plate where you have to worry about unsold sales.” Residents of the old city center have a lot of demand for charters to meet the requirements for living in the new city to participate in the subscription, but they are also worried that the purchase demand will decrease.
○ Guro·Geumcheon-gu, Seoul “Seonam Area Development Signal”
View larger-Residents of Guro and Geumcheon-gu, Seoul, who are in contact with Gwangmyeong City, are welcoming the announcement of the new city as a’signal of development in the southwestern area of Seoul’. It is hoped that when a significant number of new city residents commute to Seoul, Guro and Geumcheon-gu will escape from the image of’the outskirts of Seoul’ and become a’central axis of southwestern Seoul’. In fact, the bid price of 84m² of exclusive area for’Guro Jugong 1st’ in Guro-dong, Guro-gu, which was in the mid-to-late half of 900 million won, rose to 1 billion won right after the announcement. However, concerns about transportation infrastructure were still great. Currently, the road connecting Gwangmyeong and Seoul is experiencing severe congestion even on weekdays. In the short term, regional responses are mixed, but in the long term, positive evaluation prevails. It is expected that the residential environment will improve, and if the project to build Gwangmyeong and Siheung Techno Valley is accelerated, companies can also be attracted. Starting with the announcement of new housing sites on the 24th, the government announces candidates for public redevelopment in March and additional new housing sites in April. In May, it plans to hold a public offering for public direct implementation maintenance projects to determine the first candidate site in July.
On the other hand, even if a house that has a sale contract or a building permit on the day of the announcement of the 2-4 supply plan is included in the public-led development area, it is possible to receive a priority supply right (movement right) for a new apartment rather than cash settlement. On the 24th, Democratic Party lawmaker Jin Seong-joon and others proposed amendments to the Urban Improvement Act and the Special Public Housing Act. Originally, it was not intended to give residence rights to houses that were traded on or after the 4th of this month in the city center, but because there could be a’goodwill victim’, the point of cash settlement was delayed by one day.
Reporter Jeong Soon-gu [email protected]Go to reporter page>
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