-High Proportion of Aging Apartments Creates Ample Waiting Demand for New Apartments... Increased Interest in Actual Demand and Investment
The Munsuro Grand Park District Housing Cooperative opened the model house for ‘Munsuro Grand Park Eilin’s Garden’ in Sinjeong-dong, Nam-gu, Ulsan on September 18, kicking off full-scale sales. Located in Nam-gu, a preferred area in Ulsan, it boasts infrastructure such as transportation, school districts, and commercial facilities, and is expected to attract high interest from buyers with the popular ‘Eilin’s Garden’ brand favored in Ulsan.
Constructed by IS Dongseo, ‘Munsuro Grand Park Eilin’s Garden’ consists of 5 buildings ranging from 2 basement floors to 25 above-ground floors, with a total of 384 units sized between 59 and 84㎡. Among these, 99 units are available for general sale. The number of units by exclusive area for general sale is ▲59㎡: 43 units ▲75㎡: 25 units ▲84㎡: 31 units.
Sinjeong-dong, Nam-gu, where ‘Munsuro Grand Park Eilin’s Garden’ is located, is an urban area equipped with residential infrastructure, harmonizing transportation, commerce, administration, and culture. It is already recognized locally as a desirable place to live due to its excellent location.
From the complex, it takes about 10 minutes by car to reach Ulsan Express Bus Terminal, Ulsan Intercity Bus Terminal, and Taehwagang Station on the Donghae Nambu Line. The wide-area transportation network via bus terminals and train stations facilitates easy travel to Seoul, Busan, Gyeongju, and other cities.
Additionally, Ulsan IC and Munsu IC are nearby, providing convenient access to other regions. Using Munsuro, Bongwol-ro, and Suam-ro, residents can easily reach Ulsan Station on the Gyeongbu Line, which offers KTX and SRT services, as well as access to downtown and suburban areas. Right in front of the complex is the Gongyeoptap Rotary, a transportation hub serving as a transfer point for city and intercity buses, making public transportation convenient.
Commercial facilities are also close by. Lotte Mart (Ulsan branch) and Nonghyup Hanaro Club (Ok-dong branch) are within a 15-minute walk, and large shopping malls and supermarkets such as Lotte Department Store (Ulsan branch) and Hyundai Department Store (Ulsan branch) are reachable within 10 minutes by car.
The concentration of administrative institutions is also notable. The Ulsan Nam-gu Police Station, Ulsan Metropolitan City Hall, Sinjeong-dong Administrative Welfare Center, Ulsan Metropolitan Social Welfare Center, Ulsan District Court, and Sinjeong-dong Post Office are all located near the complex, enhancing convenience in daily life.
Moreover, cultural and medical facilities are nearby. Ulsan Museum, Ulsan Children’s Museum, Lotte Dream Park, and Munsu World Cup Stadium are adjacent to the complex, offering opportunities for hobbies and leisure. Central Hospital is located within a 10-minute walk, providing convenient access to medical services.
The area where ‘Munsuro Grand Park Eilin’s Garden’ is located is famous in Ulsan for its excellent school districts. It is home to prestigious school zones and the Ok-dong academy district, known as Ulsan’s Daechi-dong, attracting significant interest from the 30-40 age group with children. Within a 1km radius of ‘Munsuro Grand Park Eilin’s Garden’ are 11 schools, including Ok-dong Elementary School, Hakseong Middle School, Ulsan Girls’ Middle School, Sinjeong High School, and Ulsan Girls’ High School.
Abundant green spaces are also available. Ulsan Grand Park, boasting a total area of 3.71 million㎡, is within a 10-minute walk from the complex. Ulsan Grand Park offers a natural ecological experience with walking trails, a nature learning center, ponds, seasonal flower gardens, a Metasequoia path, a zoo, cultural performance halls, a circular outdoor theater, multipurpose sports fields, a fitness center, water play areas, a kids’ theme park, and a park golf course, providing diverse leisure activities.
Additionally, Taehwagang River, Taehwagang National Garden, Taehwagang Riverside Canola Flower Field, Namsan Neighborhood Park, Seonam Lake Park, and Ulsan Citizens’ Park are nearby, allowing residents of ‘Munsuro Grand Park Eilin’s Garden’ to enjoy a pleasant living environment.
Located in an area with a high proportion of aging apartments, the scarcity value of new apartments is high. According to Real Estate 114, as of August, Nam-gu had the highest rate of aging apartments in Ulsan at 81.9%. Out of a total of 80,279 households, 65,757 households have been occupied for more than 10 years. This exceeds Ulsan’s overall aging apartment rate of 74.6%. Given the high proportion of aging apartments in the area, many local residents waiting to upgrade to new apartments are expected to flock to ‘Munsuro Grand Park Eilin’s Garden.’
As an Eilin’s Garden brand apartment constructed by IS Dongseo, the product design is also excellent. ‘Munsuro Grand Park Eilin’s Garden’ consists entirely of practical small to medium-sized units, with specialized designs applied to enhance product value.
The complex landscaping uses pine tree plantings to provide a pleasant environment, and features a living garden, central plaza children’s playground, resident exercise facilities, and parks within the complex, presenting a nature-friendly residential environment with abundant greenery. Additionally, facilities such as a fitness center, residents’ meeting room, club room, reading room, daycare center, and senior citizens’ center are available for convenient use.
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A sales official stated, “As a new apartment located in a completed prime location, it is expected to attract high interest from both actual buyers and investors. Being in a non-regulated area, the entry barrier for subscription is low, so it is expected to be very popular. With perfect infrastructure in transportation, commerce, and schools, and the brand power of IS Dongseo, it will establish itself as a new central residential complex in Nam-gu,” adding.
The model house for ‘Munsuro Grand Park Eilin’s Garden’ is located in Daldong, Nam-gu, Ulsan Metropolitan City.
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