Work-Life Balance Achieved... Near-Work Small Apartments 'Suwon Central I-Park Xi'

Work-Life Balance Lifestyle Becomes Common... Increasing Demand for Proximity to Work
Active Transactions of Small Apartments in Proximity Areas... Larger Price Increases in Occupied Complexes
Focus on 'Suwon Central I-Park Xi' Near Gwanggyo Techno Valley and Samsung Electronics Suwon Plant

As the five-day workweek becomes established and the 52-hour workweek is introduced, the pursuit of work-life balance has become widespread, leading to increased attention on small apartments located close to workplaces. These apartments not only reduce commuting time but also tend to be more affordable, attracting interest not only from actual residents but also from investors seeking rental income.

In fact, small apartment transactions are more active in areas where proximity to workplaces is possible. According to real transaction data from the Ministry of Land, Infrastructure and Transport, Yeongdeungpo-gu, home to Yeouido?one of Seoul’s three major business districts?recorded 961 sales transactions of small apartments under 60㎡ in the first half of 2020 (January to June). In contrast, Gangbuk-gu, which is somewhat distant from business districts, saw only 638 transactions.

Similarly, in Bundang-gu, Seongnam-si, Gyeonggi-do, where proximity to workplaces is realized due to the presence of Pangyo Techno Valley, 2,055 sales transactions of apartments under 60㎡ were recorded during the first half of 2020. On the other hand, small apartments in the nearby Sujeong-gu and Jungwon-gu recorded only 214 and 354 transactions respectively during the same period, showing about a tenfold difference compared to Bundang-gu, a workplace-proximate area.

Meanwhile, ‘Suwon Central I-Park Xi,’ introduced by HDC Hyundai Development Company and GS Construction through the Paldal 10 District Housing Redevelopment Project (around 847-3 Ingye-dong, Paldal-gu, Suwon-si, Gyeonggi-do), is attracting attention as it begins recruiting residents for remaining small apartment units. The complex will hold a non-priority subscription on Monday, August 24, for 49 units of 39㎡ exclusive area.

Regarding subscription eligibility, anyone aged 19 or older residing in Suwon-si or the metropolitan area (Seoul, Gyeonggi, Incheon) can apply regardless of whether they have a subscription savings account, own a home, or their status as head of household or household member. Each person is limited to one application, and multiple applications will be invalidated. Additionally, since the resident recruitment announcement approval was obtained before Suwon-si was designated as a speculative overheated district under the June 17 real estate measures, up to 50% of the interim payment loan is available.

This complex is expected to benefit from workplace-proximate demand. Gwanggyo Techno Valley, home to many companies, is about a 15-minute drive away, and Samsung Electronics’ Suwon plant is located approximately 20 minutes away. Moreover, using Maegyo Station on the Bundang Line nearby allows direct access to the Gangnam area without transfers, providing good accessibility to the Gangnam business district.

Additionally, from Maegyo Station on the Bundang Line, Suwon Station?where transfers to Line 1 and KTX Gyeongbu Line are possible?is just one stop away. The road network including Gyeongsu-daero and Maesan-ro facilitates easy travel throughout Suwon and the entire metropolitan area.

Convenience facilities are abundant. Near the complex are Suwon Yeongdong Market, Megabox (Suwon Nammun branch), CGV (Dong Suwon branch), and Homeplus (Dong Suwon branch). Within about a 10-minute drive are various shopping and cultural facilities such as Lotte Mall (Suwon branch) and AK Plaza (Suwon branch). Also nearby are public offices including Catholic University St. Vincent’s Hospital, Gyeonggi Provincial Government, Suwon City Hall, and Paldal-gu Office.

The residential environment is pleasant. Suwoncheon Stream flows beside the complex, offering opportunities for light exercise and walking. Within walking distance are several neighborhood parks such as Suwon Youth Culture Park, Bandal Park, and Drama Park. The approximately 510,000㎡ Paldal Park, which includes facilities like badminton courts, basketball courts, and walking trails connected to Suwon Hwaseong Fortress, is also easily accessible.

Educational conditions are well established. The complex will include a public daycare center (planned), and Ingye Elementary School’s attached kindergarten and Ingye Elementary School itself are all within walking distance. Additionally, the Suwon City Central Library is also accessible on foot.

Various systems are also introduced. Through the wall pad installed in each unit, residents can control lighting, gas shutoff, heating adjustment, standby power cutoff, parking location confirmation, and elevator calls. When a resident is absent and called, video is automatically recorded on the wall pad. Furthermore, remote control is possible via a smartphone application.

Meanwhile, Suwon Central I-Park Xi consists of 30 buildings ranging from four basement floors to 25 above-ground floors, with a total of 3,432 units ranging from 39 to 103㎡ exclusive area. The expected move-in date is July 2023.