The mechanism for the fast switching between amorphous, metastable, and crystalline structures in chalcogenide phase-change materials has been a long-standing puzzle. Based on first-principles calculations, we study the atomic and electronic properties of metastable Ge2Sb2Te5 and investigate the atomic disorder to understand the transition between crystalline hexagonal and cubic structures. In addition, we study the topological insulating property embedded in these compounds and its evolution upon structural changes and atomic disorder. We also discuss the role of the surface-like states arising from the topological insulating property in the metal-insulator transition observed in the hexagonal structure.