Isolated Island Housing Project in Namyangju Priced 200 Million Won Higher Than New City Development

A new housing development is set to launch in Namyangju, Gyeonggi Province, sparking controversy over its pricing strategy. The project, named 'Onam Station Seohee Starhills Yeouijae 1st Complex,' is being marketed as a developer-owned housing project (jiju-taek), a model where residents collectively invest to build housing.

Located in the Onam-eup area, the development is situated on what is described as an isolated island. This location is raising eyebrows, especially considering the project's pricing. Reports indicate that the apartments are being offered at prices approximately 200 million won higher than those in the nearby Jinjeop district, which is a more established new city area.

The development is substantial, with the first phase alone comprising around 1,300 units. When combined with the planned second and third phases, the total number of households will reach approximately 3,400, making it the largest housing complex in the Onam-eup vicinity. The developer's aggressive pricing, despite the location's perceived drawbacks, has become a focal point of discussion.