GS Construction to Open First Priority Subscription for Suwon 'Yeongtong Xi' on the 22nd

Aerial view of Yeongtong Xi.

[Asia Economy Reporter Donghyun Choi] GS Construction announced on the 8th that the first-priority subscription for Yeongtong Xi, located in the Mangpo 5 Residential Development District in Yeongtong-gu, Suwon, will begin on the 22nd.

Yeongtong Xi consists of 7 buildings ranging from 2 basement floors to a maximum of 27 floors above ground, offering a total of 653 units for general sale with exclusive areas of 59 to 75㎡. The composition includes ▲375 units of 59A㎡ ▲172 units of 59B㎡ ▲106 units of 75㎡.

The subscription schedule starts with special supply on the 21st, followed by first priority (local) on the 22nd, first priority (others) on the 23rd, and second priority on the 24th. Applications can be submitted through the Korea Real Estate Agency’s subscription website, with winners announced on May 4th and official contracts taking place from May 15th to 20th at the model house.

The average sale price of Yeongtong Xi is 17.97 million KRW per 3.3㎡. The down payment is a fixed amount of 10 million KRW for the first installment, and the intermediate payments are interest-postponed. Move-in is scheduled for August 2022.

Yeongtong Xi previously introduced its model house through a real-time live broadcast on its YouTube channel. Experts such as design and interior managers were invited to provide sales information about Yeongtong Xi. The live broadcast also allowed real-time interaction with customers to address their questions, fostering mutual communication. On the day of the YouTube live broadcast, the viewership reached about 12,000, and total views have since exceeded 40,000.

Yeongtong Xi is located within a 1km radius of Mangpo Station on the Bundang Line, allowing travel to Suwon Station in 10 minutes and to Pangyo in about 30 minutes. Additionally, the Seoul Gangnam area can be reached within an hour via express bus routes. Nearby are Jamwon Elementary School, Jamwon Middle School, Mangpo Middle School, and Mangpo High School, enabling walking commutes. The complex is adjacent to the fully developed Suwon Yeongtong District and Dongtan New Town, allowing shared use of living facilities. Large marts such as E-Mart Traders (Suwon Sindong Branch), Big Market (Shin Yeongtong Branch), and Homeplus (Yeongtong Branch), as well as convenience facilities around Mangpo Station, are accessible.

According to Real Estate 114, there are a total of 45,147 apartment units in Mangpo-dong and Yeongtong-dong, Yeongtong-gu, of which 36,055 units were occupied before 2010. About 80% of the apartments are over 10 years old, and in Yeongtong-dong, only 351 new apartments have been supplied within the last 5 years. Mangpo-dong, where the complex is located, has had few new apartment supplies since December 2016, so it is expected that many buyers will seek to move into new apartments.

The head of GS Construction’s sales division said, “Mangpo 5 District, where Yeongtong Xi is located, already has various infrastructures in place, so its value is expected to rise further,” adding, “In particular, the excellent educational environment and the revitalization of the Suwon real estate market have attracted significant interest from both local and external buyers.”