Ocean-view Luxury Residences Trend Sweeps Coastal Cities Busan, Sokcho, and Yeosu

The center of luxury residences in Korea is shifting from 'Han River view' to 'ocean view.'

Until now, the most prestigious luxury residences in Korea were mostly located in Seoul, especially along the Han River. These complexes, boasting ultra-high-rise, stunning exteriors and top-tier designs with secured Han River views, have captivated wealthy investors.

However, this trend is recently changing. With the active supply of luxury residences in coastal cities such as Busan, Sokcho, and Yeosu, interest among buyers is steadily increasing. This resembles the formation of luxury residence lines along coastlines, like in Sydney, Australia, and Miami, USA.

These coastal cities are gaining high popularity due to their expansive ocean views and pleasant living environments, which cannot be experienced along the Han River, as well as the availability of various leisure activities. Especially with the expansion of metropolitan transportation networks significantly improving accessibility from the Seoul metropolitan area, demand for ocean-view hotel vacations is also rising sharply, driving property values upward.

Proving this, luxury residences in coastal cities have been exceptionally popular from the pre-sale stage. For example, the luxury residence 'Belive Paragraph Haeundae,' launched in June last year in Haeundae, Busan, recorded an average competition rate of 38.87 to 1, with a peak of 266.83 to 1.

Accordingly, the industry regards residences supplied in coastal cities as a new core investment destination in the income-generating real estate market. Particularly, due to the prolonged COVID-19 pandemic making overseas travel practically difficult, and the prevailing outlook that even after the pandemic ends, overseas travel will face various restrictions and increased costs compared to the past, the future value of residence hotels in domestic coastal cities is considered even brighter.

Among these, a luxury residence hotel recently supplied in Sokcho City, Gangwon Province?one of the hottest places among Korea’s coastal cities?has attracted attention. The protagonist is 'Cassia Sokcho,' introduced by the global hotel & resort chain Banyan Tree Group in Sokcho City, Gangwon Province.

Above all, the power that draws attention to 'Cassia Sokcho' lies undoubtedly in its 'brand.' 'Cassia,' part of the globally renowned Banyan Tree Group, is a premium residence hotel brand with a modern and unique concept designed for consumers seeking stylish villas, and it is highly favored in famous overseas tourist destinations such as Bintan, Indonesia, and Phuket, Thailand.

Notably, 'Cassia Sokcho' is the first 'Cassia' brand hotel introduced domestically, planned to fully reflect the high-class image unique to the Banyan Tree Group through excellent site selection, outstanding interior and exterior design, various ancillary facilities, and differentiated services to captivate domestic consumers at a glance.

First, it is optimally located to enjoy Sokcho’s beautiful natural scenery. 'Cassia Sokcho' is situated in a rare spot where every hotel room offers an ocean view. Among the many hotels in coastal cities, places where the ocean view is unobstructed from the front are scarce, making this location truly precious.

The fact that it is built to maximize the value of this prime location also draws attention. 'Cassia Sokcho' will be developed with a total floor area of 120,560㎡, a height of 99 meters, 2 basement floors to 26 above-ground floors, and a total of 717 rooms. Designed as a large-scale high-rise compared to surrounding buildings, it will clearly stand out from the exterior.

Moreover, all rooms are suites optimized for enjoying ocean views, with a meticulous spatial arrangement where the bed, bathtub, balcony, and ocean align in a straight line to give the feeling of embracing the sea from inside the room. True to the name 'suite room,' every room features a hinoki-concept bathtub and balcony, allowing guests to spend leisurely time in a private environment.

Guests can enjoy various activities all day long without leaving the hotel. An outdoor infinity pool with a sandy beach, indoor pool, and kids’ pool are provided for diverse water play. Additionally, a rooftop space at the top, which can be enjoyed at famous overseas hotels, will be available, making it a hot spot in Sokcho where guests can enjoy the East Sea’s different colors by day and night.

As the owner of Sokcho’s top hot spot and an investor, there are many benefits to enjoy. Cassia Sokcho operates under ownership, allowing contract holders to use the facility for 30 days a year (7 days during peak season, 7 days on weekends and holidays, and 16 weekdays) through advance reservation at their preferred times. For the remaining 335 days, the Banyan Tree Group manages operations on consignment, enabling stable income generation without the hassle of direct management.

Additionally, membership benefits of Banyan Tree Group’s The Sanctuary Club are provided, offering discounts when booking Banyan Tree, Angsana, Cassia, Laguna hotels, resorts, and golf courses overseas, as well as discounts on various ancillary facility fees.

Meanwhile, 'Cassia Sokcho' operates a VIP lounge in Gangnam-gu, Seoul, with customer visits conducted by advance reservation only.