Apartments in 'double station-area' developments in rail-scarce regions jump by 100 million won

[The Financial News] In regional real estate markets, so-called “double station-area” complexes, which offer access to two or more rail lines, are gaining strength on the back of their scarcity.
According to industry sources on the 13th, complexes served by multiple lines not only shorten travel times to major hubs, but also attract commercial and convenience facilities that quickly cluster around stations, boosting their residential appeal. As a result, they are seen as having strong downside price resilience even during market fluctuations.
According to the Ministry of Land, Infrastructure and Transport’s actual transaction price system, an 84-square-meter unit at Geoje Central Xi in Yeonje-gu, Busan, sold for 860 million won on the 3rd, up 100 million won from 760 million won in January this year. The complex is located near Gyodae Station, where Busan Metro Line 1 connects with the Donghae Line.
Complexes set to become double station-area properties as rail lines are expanded are also seeing sharp price increases. An 84-square-meter unit at Mudeungsan I-Park in Dong-gu, Gwangju, sold for 700 million won last July, up 85 million won from 615 million won last February. Namgwangju Station on Gwangju Metro Line 1, near the complex, is set to become a transfer station where it will intersect with Gwangju Metro Line 2, whose first phase is targeted to open in December 2028, allowing the complex to benefit substantially from the transport improvements.
An industry official forecast, “In regional areas, where rail infrastructure is relatively limited compared with the Seoul metropolitan area, transfer stations have considerable scarcity value and symbolic significance. Going forward, the connectivity of the transport network will be a decisive factor in determining a complex’s value and appeal.”
Against this backdrop, new developments in regional areas offering substantial rail-related benefits and a double station-area premium are set to launch in October, drawing buyers’ attention.
IPARK Hyundai Development Company plans to launch sales of I-Park Mudeungsan Sky Fore in October in Hak-dong, Dong-gu, Gwangju Metropolitan City. The mammoth-scale branded complex will comprise 19 buildings, with three basement levels and up to 29 aboveground floors, and a total of 2,299 homes. Of these, 1,387 units with exclusive floor areas of 59–135 square meters will be offered for general sale. The complex is located within the station area of Namgwangju Station on Gwangju Metro Line 1 and will benefit from access to two lines when Gwangju Metro Line 2 opens.
BS Hanyang will launch sales in October of Yeonsan Station Sujain Centrio, in Yeonsan-dong, Yeonje-gu, Busan. The development comprises 335 units with exclusive floor areas of 59–84 square meters. It occupies a prime location within walking distance of both Yeonsan Station, served by Busan Metro Lines 1 and 3, and Gyodae Station, served by Line 1 and the Donghae Line.
Doosan Construction is selling Doosan We've Triniview Gumyeong Station in Gupo-dong, Buk-gu, Busan. Of the 839 homes, 288 are being offered for general sale. Gumyeong Station on Busan Metro Line 2 is nearby, as is Gupo Station, which provides access to Line 3 and the Gyeongbu Line (KTX), giving the development excellent public transport links.

[email protected] Jeon Min-gyeong Reporter