The (tentatively named) Sillim Regional Housing Association announced the opening of the promotional center for the ‘Sillim Paragon The Millian’ apartment complex, located in the heart of Gwanak-gu, a rapidly emerging residential area in Seoul, and has begun recruiting members for the association. Amid soaring housing prices in Seoul, this presents an opportunity to own a home at a reasonable price, attracting significant attention.
Sillim Paragon The Millian will be developed on the site of 1480-1 Sillim-dong, Gwanak-gu, Seoul, with approximately 790 units (planned), consisting exclusively of small to medium-sized units favored by buyers, with exclusive areas of 59㎡ and 84㎡.
Gwanak-gu, where the complex is located, is currently regarded by experts as a promising area with high potential, moving beyond its previous image. Redevelopment projects centered around Sillim and Bongcheon are transforming the area into a new residential district, and various ongoing transportation improvements in Gwanak-gu are underpinning its excellent residential and future value.
It is also noteworthy that Sillim Paragon The Millian is a regional housing association apartment. In the past, regional housing associations faced issues due to unclear pre-notification and verification procedures for member recruitment, leading to project side effects. However, since the 2017 amendment of the Housing Act, institutional safeguards have been established, securing project stability and transparency, significantly reducing adverse effects.
Especially recently, with Seoul apartment prices rising sharply and successive real estate policies making home purchases more difficult, regional housing association apartments are gaining attention as an effective means of ‘owning a home.’ They are cheaper than general apartment sale prices and are not related to subscription savings accounts or ranking.
Additionally, Sillim Paragon The Millian attracts attention by being equipped with various infrastructures highly valued in the housing market. It is located within walking distance of Sindebang Station on Subway Line 2, allowing access to the major business district Guro Digital Complex in just one stop, and Gasan Digital Complex and Gangnam are reachable within about 20 minutes. The nearby Nambu Beltway allows easy vehicle access throughout Seoul, and the close proximity to Siheung IC facilitates convenient travel to suburban areas around Seoul.
Moreover, significant transportation developments near the complex are underway, and upon completion, Sillim Paragon The Millian is expected to become the best-located site in Gwanak-gu in terms of transportation. The most notable project is the planned Nangok Light Rail Line. As part of balanced development between Gangnam and Gangbuk, the 4.1 km Nangok Line will connect Boramae and Nanhyang-dong and link with the planned Sillim Light Rail Line, making travel in the northern part of Seoul much easier once opened. Six stations are planned, including the Nangok Sageori Station (tentative name/planned), which is set to be located right in front of the complex at Nangok Intersection and is currently under review for approval by the Land, Infrastructure and Transport Committee.
The road traffic network will also be expanded. The planned Sillim-Bongcheon Tunnel, connecting the Nambu Beltway and Gangnam Beltway, is expected to disperse traffic congestion in the area significantly and serve as an alternative route to Gangnam.
Excellent school districts are another highlight. Within a 1 km radius, there are 15 schools accessible for commuting, and within 500 meters, there is a one-stop school zone including elementary, middle, and high schools (Miseong Elementary, Nangok Middle, and Sillim High), allowing parents to send their children to school with peace of mind.
The complex is also equipped with abundant living infrastructure. Nearby are Sillim General Market, Lotte Department Store (Gwanak branch), and Lotte Mart (Geumcheon branch), and residents can easily access community centers (Jowon-dong and Sinsa-dong) on foot. Excellent medical facilities such as Gangnam Seongsim Hospital and Boramae Hospital are located near the complex. Additionally, Sillim Neighborhood Park and Doksan Natural Park are adjacent, providing leisure spaces, and Gwanaksan, one of Korea’s top 100 famous mountains, is also nearby.
The complex will be designed with a flat-type layout, primarily south-facing units, and wide distances between buildings, creating a modern apartment complex.
An association official stated, “With redevelopment projects and transportation improvements heating up Gwanak-gu, apartments with such excellent locations will be rare in the future. Sillim Paragon The Millian attracts attention from buyers by offering the regional housing association’s greatest strength?reasonable prices?and providing full options of home appliances worth about 20 million KRW to all households, reducing economic burdens and enhancing convenience.”
Meanwhile, the promotional center for Sillim Paragon The Millian is located at 851-3 Bangbae-dong, Seocho-gu, Seoul (in front of Exit 7 of Naebang Station), where visitors can receive detailed information.
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