- Rising Housing Prices Reduce Unsold Units, Boost Subscription... Increased Expectations Due to Deregulation and Development Prospects
- Posco Construction to Launch 939 Units of 'The Sharp Tangjeong Station Centro' in Asan City Area in February, Drawing Attention
The real estate market in Asan City, Chungnam Province, continues its upward trend. In fact, Asan has seen steady house price increases over the past year, along with a significant reduction in unsold units. Recently, it has gained attention as one of the few remaining non-regulated areas, with new housing complexes consistently enjoying strong sales, drawing considerable interest.
According to the weekly transaction price index fluctuation rate from the Korea Real Estate Board, Asan has maintained a weekly price index increase for 37 consecutive weeks since the fourth week of April last year. Particularly last month, with the neighboring city of Cheonan designated as a regulated area, Asan benefited from a spillover effect, resulting in a larger price increase.
Specifically, after the designation of regulated areas, Asan’s transaction price index fluctuation rates were 0.54% (3rd week of December), 0.39% (4th week of December), 0.20% (1st week of January), and 0.32% (2nd week of January). These figures surpass Cheonan’s rates during the same periods, which were 0.39%, 0.31%, 0.21%, and 0.22%, respectively.
At the same time, unsold housing units have steadily decreased. According to data from the Ministry of Land, Infrastructure and Transport’s Statistics Nuri, as of the end of November last year, Asan had 220 unsold units, which is more than a 50% reduction compared to 476 units in the same month of 2019.
Moreover, as the market gains momentum, new housing complexes continue to achieve strong sales. For example, in December last year, the ‘Hoban Summit Grand Mark’ in Tangjeong-myeon, Asan, received an overwhelming 66,695 applications (including multiple applications) for 1,414 units (excluding special supply) across five blocks. As a result, the complex closed all unit types in the first priority round with an average competition rate of 47.16 to 1, demonstrating high interest in Asan.
Industry experts attribute Asan’s real estate market growth to its status as a non-regulated area and favorable development prospects. Since 2016, Asan, along with Cheonan, has benefited significantly from spillover effects due to regulations focused on the Seoul metropolitan area. As a key city along the Gyeongbu Line with excellent transportation accessibility, it has attracted attention as a metropolitan-adjacent area.
Additionally, Asan is accelerating urban development with the goal of becoming a self-sufficient city of 500,000 residents, bringing continuous positive developments. Notably, Samsung Electronics plans to invest approximately 13 trillion KRW by 2025, which is expected to accelerate urban growth. This large-scale investment in Samsung Display’s Asan plant is projected to create about 80,000 jobs over the next five years, contributing to population inflow and the city’s development.
Urban development projects such as Asan Tangjeong 2 District (scheduled to start construction in 2023), Baebang Wolcheon District, and Buksoo (Inae) District (planned) are actively progressing. Transportation improvements are also anticipated, including the opening of Tangjeong Station on Line 1 (scheduled for December 2021) and the opening of the Asan-Cheonan section of the Dangjin-Cheonan Expressway (scheduled for 2022). Once these projects are completed, Asan’s residential environment is expected to become significantly more comfortable.
An industry insider said, “Asan’s real estate market is gaining momentum as demand steadily flows in from buyers avoiding the heavily regulated Seoul metropolitan area. Asan is actively pursuing development projects and investment attraction to capitalize on this population inflow, enhancing both regional and future value. Therefore, the upward trend is expected to continue for some time.”
Meanwhile, new apartment supply is scheduled in Asan in February, attracting much attention. POSCO Construction will offer ‘The Sharp Tangjeong Station Centro,’ a complex with 11 buildings up to 28 floors high, totaling 939 units with exclusive areas ranging from 76 to 106 square meters. The units are mainly composed of sizes preferred by consumers, and there are no resale restrictions, allowing immediate resale.
The Sharp Tangjeong Station Centro is especially convenient as it borders the Asan Tangjeong District across the Gokgyo Stream, allowing residents to share the residential infrastructure and living area of Tangjeong District. It is close to KTX·SRT Cheonan-Asan Station, Line 1 Asan Station, and Baebang Station, and is adjacent to Oncheon-daero, providing excellent access to the downtown areas of Cheonan and Asan. The upcoming opening of Tangjeong Station on Line 1 this year will further improve transportation conditions.
The Sharp Tangjeong Station Centro is expected to enhance residential comfort through differentiated innovative design. Notably, the complex will introduce a ‘Clean Air System’ inside each unit. This is a clean ventilation system composed of four-stage filters that remove fine dust particles as small as 0.3 micrometers. Sensors automatically measure and manage indoor air quality, allowing residents to enjoy a healthier and more comfortable indoor life.
Additionally, considering the characteristics of consumers in the Cheonan and Asan areas, where many residents are in their 30s and 40s, the complex will feature customized designs such as ‘view-type kitchen windows,’ ‘styling bathrooms’ resembling hotels, and ‘specialized large-item storage spaces’ for effective storage of bulky items.
The model house for The Sharp Tangjeong Station Centro will be located in Asan and is scheduled to open in February.
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