In Pyeongtaek, some newly constructed apartments near Gijje Station are setting record prices, while concerns arise in the Gajaje District and Brain City, where pre-sale rights are trading below their original prices. With over 5,700 units scheduled for completion in early 2027 across four major complexes, the demand from actual residents is becoming a key factor in the recovery of Pyeongtaek's housing prices.
On October 26, the atmosphere around Gijje Station was filled with optimism regarding rising apartment prices. A real estate agent near the Gijje Station The Sharp Central City noted, "Since the regulatory issues in Dongtan emerged, the buying sentiment has changed. Higher-priced complexes in this area are responding, with prices for 84-square-meter units rising from the 800 million won range to over 900 million won."
In contrast, the mood shifted as we approached the Gajaje District. Workers were busy at the 'Gijje Station Semiconductor Valley Ssangyong The Platinum' and 'Gijje Station Semiconductor Valley Harrington Place,' which are set to welcome residents in January and February 2027. Although thousands of new apartments are taking shape, local real estate offices expressed concerns about the large influx of new residents.
A real estate agent in the Gajaje District stated, "The rental prices for 84-square-meter units in the upcoming Ssangyong The Platinum and Harrington Place are around 250 million to 260 million won. Compared to the rental prices in the Godeok area, which are around 350 million won, the price difference is significant."
According to local real estate sources, rental prices for similar-sized units near Gijje Station range from the high 300 million won to low 400 million won, which is over 100 million won higher than in the Gajaje District. While differences in transportation access and living infrastructure play a role, the need for new landlords to secure tenants in line with their move-in dates also impacts the market.
In Brain City, supply concerns are also emerging. Local real estate offices report that some pre-sale rights are trading at a negative premium of around 70 million to 80 million won. As investment units, initially purchased with expectations of price appreciation, come to market ahead of occupancy, there are predictions of increased supply pressures in both sales and rental markets.
The four major complexes set to welcome residents in early 2027 in the Gajaje District and Brain City will total 5,711 units. In the Gajaje District, 1,340 units of Ssangyong The Platinum and 1,209 units of Harrington Place are expected to be completed. In Brain City, 'Daekwang Rozeviang Grand Centum' with 1,182 units and 'Jungheung S-Class' with 1,980 units are also nearing completion.
Among these, 4,315 units are 84 square meters, accounting for 75.6% of the total. If a large number of similar-sized new apartments are supplied in a short period, it could lead to price competition among landlords. If rental demand shifts to these more affordable new apartments, it may also impact rental prices in existing complexes.
However, there are also views that lower prices could attract external demand. A real estate agent in the Gajaje District mentioned, "The rental prices are low enough to attract tenants from nearby areas. There are quite a few people selling their homes in Dongtan and moving down here."
Seojin Hyung, a professor at Kwangwoon University’s Department of Real Estate Law, stated, "Even if a large number of new units are supplied in Pyeongtaek, some complexes near stations may maintain their prices. However, given the overall increase in supply in the region, there will be limits to overall price increases. It will be difficult for the demand related to Samsung Electronics' Pyeongtaek campus to absorb all the new units, leading to potential declines in rental prices in outer areas and stable sales prices."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.