HDC Hyundai Development Company, Hyundai Construction, and POSCO Construction (developer: Asia Trust, trustee: DCRE) are set to hold the first-priority subscription for ‘City OCELE Phase 3,’ supplied in Michuhol-gu, Incheon, on the 23rd (Tuesday), drawing heightened interest. The project is highly anticipated due to its excellent location within Michuhol-gu, practical floor plans, and competitively priced units.
City OCELE Phase 3 is the first complex to be sold within City OCELE, which is being developed as a mini new town-scale project in Michuhol-gu. It boasts a superior location within City OCELE, being an ultra-station area within walking distance of Hakik Station (planned) on the Suin-Bundang Line.
Notably, a large-scale commercial facility and a movie theater will be included within the complex. Residents can enjoy convenience and cultural facilities without leaving the premises. Additionally, a central commercial zone is planned within City OCELE, and the Incheon Museum Park (planned) is adjacent, promising even more convenient living in the future.
A representative from real estate agency D nearby said, “Since City OCELE itself is being formed as a mini new town, residents can conveniently enjoy the infrastructure within it, making it a comfortable place to live after moving in. With planned apartment supply and surrounding redevelopment projects underway, it seems suitable for investment, likely resulting in high subscription competition rates.”
Although it is a mixed residential complex, the slab-type floor plans have received favorable reviews. The apartments are primarily south-facing (southeast, southwest) and designed around a 4-Bay slab-type layout to enhance natural lighting and ventilation. Inside, features such as dressing rooms, powder rooms, pantries (in some types), and alpha rooms (in some types) are provided, along with various selectable options to maximize space utilization. Additionally, underground storage units are provided for each household, making it easy to store seasonal items.
The officetels are similarly well-designed. Anticipating fierce competition for apartment subscriptions, many buyers are turning their attention to officetels. City OCELE Phase 3 officetels offer exclusive areas of 84㎡ and 66㎡, ideal as alternative products to apartments. The 84㎡ units feature three bedrooms, two bathrooms, kitchen/dining, and living rooms with a 4-Bay design to enhance lighting.
They also include dressing rooms, powder rooms, kitchen pantries, and master bedroom balconies to increase storage space. Residents can opt for premium dressing rooms (optional) that expand the dressing and powder rooms according to their lifestyle. The two children’s bedrooms can be combined into one through a flexible design (optional). The 66㎡ units consist of two bedrooms, one bathroom, living room, and kitchen/dining area in a 3-Bay layout, with kitchen pantries, master bedroom dressing rooms, and balconies to enhance storage functionality.
Mr. Kwon (35), who visited the model house, said, “My points are low, and I don’t have children, so I gave up on winning an apartment subscription. I’m interested in officetels. The floor plans are so well-designed that they feel like 20-pyeong apartments, and the price range is reasonable, so I’m planning to apply.”
The competitively priced units have also attracted buyers. The average apartment price for City OCELE Phase 3’s 84㎡ units is around 580 million KRW, which is lower than the recent actual transaction prices of nearby ‘Incheon SK Skyview’ (moved in June 2016) at 678 million KRW for 84㎡ units, and ‘Hillstate Hakik’ (scheduled for June 2021) at 638.8 million KRW for pre-sale rights.
Mr. Koo (40), residing in Yeonsu-gu, Incheon, said, “With rent prices rising too much, I decided it’s better to buy a house. I had been eyeing the first phase of City OCELE, and the prices are more reasonable than I expected, which I like. The surrounding infrastructure is well-developed, and with many development plans nearby, it seems like a place that satisfies both actual residence and investment.”
Subscriptions for City OCELE Phase 3 will be held simultaneously for apartments and officetels. Apartment subscriptions start with special supply on March 22 (Monday), followed by first-priority local subscription on the 23rd (Tuesday), first-priority other subscription on the 24th (Wednesday), and second-priority subscription on the 25th (Thursday). Winners will be announced on the 31st (Wednesday), and official contracts will be signed over nine days from April 12 (Monday) to April 20 (Tuesday).
Officetel subscriptions will be accepted for one day on the 23rd (Tuesday), with winners announced on the 31st (Wednesday), and official contracts signed over two days from April 1 (Thursday) to April 2 (Friday). Subscriptions are conducted through the Korea Real Estate Board’s subscription website, and simultaneous applications for apartments and officetels are possible.
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