Perspective view of 'Ssangyong The Platinum Beomeo' located in Beomeo-dong, Suseong-gu, Daegu (Photo by Ssangyong Construction)
[Asia Economy Reporter Moon Jiwon] Despite growing concerns about domestic and international economic downturns, the housing subscription fever in prestigious school districts remains intense. As the government has announced plans to abolish autonomous private high schools, foreign language high schools, and international high schools, houses located near good school districts are expected to maintain high popularity for the time being.
According to industry sources on the 2nd, in Gangnam, Seoul, which is considered a prestigious school district, the jeonse (long-term lease) prices, used as a leading indicator of the sales market, have risen sharply. According to real estate information company Kyungjemanlab, the average jeonse price per 3.3m² for apartments in Gangnam-gu, which was around 27.7 million KRW in June last year, increased by 9.3% over eight months.
The subscription market shows a similar trend. In Songdo, which has established itself as an emerging prestigious school district with Chadwick International School Songdo, POSCO Autonomous Private High School, and Incheon Science and Arts Gifted School, the 'Hillstate Songdo The Sky' project, which received first-priority subscription applications last month, attracted the highest number of applicants in Incheon. It recorded an average competition rate of 72.17 to 1, with a peak of 272.35 to 1.
In the second quarter of this year, scarce supply in prestigious school districts is expected to heat up subscription competition among real demand buyers with children.
This month, Ssangyong Construction will launch 'Ssangyong The Platinum Beomeo' in Beomeo-dong, Suseong-gu, Daegu, a prestigious school district. This complex consists of three buildings ranging from five basement floors to a maximum of 39 floors above ground, with a total of 292 residential units, including 207 apartments and 85 officetels.
Dongcheon Elementary School is within walking distance, and the main academy district of Suseong-gu is also conveniently accessible. Notably, all units are designed with an exclusive area of 84㎡, ideal for family residents. It is located in the immediate vicinity of Beomeo Station on Daegu Metro Line 2, and Dongdaegu KTX Station is within a 2 km radius.
Lotte Construction will offer 'Le L Shinbanpo,' a reconstruction of Sinbanpo 14th Complex in Jamwon-dong, Seocho-gu, Seoul, this month. The supply scale includes three buildings ranging from three basement floors to 22-34 floors above ground, totaling 280 units with exclusive areas ranging from 54 to 100㎡. Of these, 67 units are for general sale. Prestigious schools such as Banwon Elementary, Sinbanpo Middle, and Sehwa High School are nearby.
Next month, Shinyoung Construction will launch 'Ulsan G-City Xi' in the Seobu-dong area of Dong-gu, Ulsan, a prestigious school district. The project consists of two complexes with 18 buildings ranging from five basement floors to a maximum of 37 floors above ground, totaling 2,687 units with exclusive areas from 59 to 107㎡. Elementary, middle, and high schools such as Seobu Elementary, Noksu Elementary, Hyundai Middle, Hyundai Cheongun Middle, Hyundai High, and Hyundai Cheongun High are all within walking distance. Ulsan East Library and academy districts are also nearby.
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