835 Generation Super Proximity Large Complex Andong Yongsang Pungnim Iwon Riverpark, Supplied After 3 Years

Andong Real Estate Market Shows Remarkable Upward Trend

The real estate market in Andong, which had no new apartment supply for the past three years, was in a cooling period. However, recently, as the non-regulated areas have enjoyed a balloon effect, new supply has begun.

Amid this, apartments with safety-specialized designs such as seismic design are currently being sold in Andong, Gyeongbuk. This is the 'Andong Yongsang Poonglim I-One River Park,' which Poonglim Industry (Chairman Ji Seung-dong) is scheduled to construct on what is virtually the last prime site in Andong.

This apartment complex is known as a so-called "school-front" complex as it embraces Yongsang Elementary School, which was recently selected as a Green Smart Future School and is being newly built with a support fund of 23 billion KRW. Not only the elementary school but also a public daycare center within the complex, Yongsang Elementary School-affiliated kindergarten, Gilju Middle School?the only coeducational middle school in Andong?and the prestigious Andong High School create a one-pass educational environment, drawing attention as Andong's prestigious education district.

Additionally, it is being built as a park-type large complex with a total of 835 households, attracting interest as the first apartment in Andong to undergo wind tunnel testing and featuring near-perfect seismic design for intensity 7 earthquakes. Recently, the 84A type was sold out, and the 61A and 74A types are also nearing completion.

A contract holder of the 84-type said, "There haven't been new apartments in Andong recently. Since it's a new supply after a long time, I visited the model house and liked the layout, so I signed a contract. The prices of previous apartments have all risen, so I think the market price will also increase by the time of move-in."

Also, a local real estate agent said, "I've been in real estate in Andong for 20 years, and every time, people say the sale prices are expensive. But after a while, they all go up, and since the educational environment is good, River Park is attracting a lot of interest."

Moreover, Poonglim I-One River Park is adjacent to the Banbyeoncheon Riverside Park, located upstream of the Nakdong River, providing a pleasant residential environment. Above all, since it is adjacent to the riverside park, some units offer views of Banbyeoncheon. Furthermore, it will be developed as a themed park-type complex with the region's first 100% underground parking lot design, free of cars on the ground level.

The educational conditions are also excellent. The area where this complex is located is Andong's top prestigious school district. Right next to the complex is Yongsang Elementary School, recently designated as a Green Smart Future School, along with a public daycare center, Yongsang Elementary School-affiliated kindergarten, Gilju Middle School, and Andong High School, forming the only apartment complex with a one-pass educational environment. Additionally, prestigious academies will be invited to the commercial area within the complex. Moreover, a large duplex community center within the complex will be equipped with residents-only convenience facilities such as a Moms Lounge, fitness center, GX room, indoor golf practice range, library, and residents' meeting room.

As an apartment introduced in a non-regulated area, it is free from various restrictions. Andong Yongsang Poonglim I-One River Park allows unlimited resale of pre-sale rights and loans up to 70% of the house price. The sales promotion center is located in Andong City. To prevent COVID-19, strict quarantine rules such as visitor limits and social distancing are being observed.