90% of Pyeongtaek’s New Apartment Supply Concentrated in Godeok and Hwayang... Scarcity of New Homes at PyeongtaekJije Station Grows

[Financial News] New apartment supply in Pyeongtaek over the past three years has been concentrated around Pyeongtaek Godeok International City and Hwayang District. By contrast, the area around PyeongtaekJije Station has seen limited new housing supply, highlighting the scarcity of newly built complexes from major construction brands.
According to Real Estate R114 on the 16th, a total of 25,973 apartment units were scheduled for move-in in Pyeongtaek over the three years from 2024 through this year.
Of this total, 13,537 units were supplied in Godeok-dong, where Pyeongtaek Godeok International City is located, and nearby areas including Jangdang-dong, Jangan-dong and Seojeong-dong. This accounted for 52.1% of the total. In the area encompassing Hyeondeok-myeon, where Hwayang District is located, and neighboring Anjung-eup, 10,005 units were completed during the same period. That represented 38.5% of all apartment move-ins in Pyeongtaek.
Combined move-in supply in the two areas totaled 23,542 units, or 90.6% of the Pyeongtaek total. In other words, more than nine out of every 10 new apartments completed in Pyeongtaek over the past three years were concentrated in the two areas centered on Pyeongtaek Godeok International City and Hwayang District.
The concentration of supply became more pronounced in recent years. The share of Pyeongtaek’s total move-in supply located around Pyeongtaek Godeok International City and Hwayang District rose from 76.8% in 2024 to 92.7% last year, reaching 98.9% this year.
By contrast, relatively few new apartments were completed in the PyeongtaekJije Station area. Jije-dong and Segyo-dong had no new move-in supply during the same period. Even including 812 units in neighboring Dongsak-dong and 741 units in Chilwon-dong, the total was only 1,553 units, or about 6% of Pyeongtaek’s overall move-in supply.
Differences also emerged in the suppliers and brand mix. In Pyeongtaek Godeok International City, public housing move-ins continued, including 1,167 units in Block A-53 and 385 units in Block A-57-2 supplied recently by the Korea Land and Housing Corporation (LH). Private-sale complexes were also supplied mainly by mid-sized construction companies.
Around PyeongtaekJije Station, complexes carrying major construction brands are forming the area’s new residential hub. Representative examples include Jije Station The Sharp Central City in front of the station, as well as PyeongtaekJije Station Xi and Hillstate Jije Station.
With limited new supply, these complexes are leading local prices. An 84-square-meter unit at Jije Station The Sharp Central City, located directly in front of the station, traded for 950 million won this month. An 84-square-meter unit at PyeongtaekJije Station Xi also changed hands for as much as 795 million won in August.
The highest presale price for an 84-square-meter A-type unit at PyeongtaekJije Station Xi was 487.8 million won. Compared with the highest transaction price in August, this represents an increase of 307.2 million won. The price premium is interpreted as having formed around newly built complexes from major brands in the supply-constrained PyeongtaekJije Station area.
As a result, attention is also turning to the new large-scale complex scheduled for supply in the PyeongtaekJije Station area. Hanwha’s construction division plans to offer Hanwha FORENA Jije Station for sale in October in the area around 725 Segyo-dong, Pyeongtaek.
The complex will consist of 12 buildings, ranging from two underground floors to a maximum of 27 above-ground floors, with a total of 1,098 units measuring 84 or 116 square meters. More than 80% of the units will have an exclusive area of 84 square meters, which is highly preferred by buyers. It will be a large-scale complex with more than 1,000 units supplied in the PyeongtaekJije Station area and will feature Hanwha’s residential brand, FORENA.

[email protected] Choi A-young Reporter