Attracting Attention: Nearby Sales of Yangpyeong Cultural Facilities Perfect for Art Culture Town

Increased Demand for Spending Leisure Time Near Home Due to COVID-19
‘The Sharp Yangpyeong Riverforet’ Popular Near Public Cultural Facilities Worthy of Being Called an Art Culture Town

In the past, consumers preferred locations based solely on convenience factors such as proximity to subway stations or good school districts, but recently, they have also been considering whether the location offers access to cultural and artistic facilities for leisure time. Having these facilities nearby allows residents to enjoy cultural activities during their free time and is also a great help for the education of young children.

With the implementation of the 52-hour workweek and the increase in consumers' leisure time, apartments adjacent to not only transportation and convenience facilities but also cultural facilities have become popular. According to data released by the Ministry of Culture, Sports and Tourism in the second half of last year, the leisure time of the public increased by about 12 minutes compared to the previous year, and leisure time spent near home also significantly increased. Especially due to the impact of COVID-19, there has been a burden in traveling to cultural facilities far from home, so the popularity of apartments near cultural facilities is expected to rise further.

Last year, apartments near cultural facilities were highly preferred. For example, the ‘Seogwanggyo Park Switzen’ apartment in Jangan-gu, Suwon, attracted great popularity as an apartment enjoying cultural facilities, with nearby Gyeonggi-do Central Education Library, sports center, and urban development projects in the cultural tourism district planned. The subscription results showed 7,771 applications for 226 households (excluding special supply), recording an average competition rate of 34.38 to 1.

Real estate experts say, “As consumers’ leisure time increases, the preference for apartments where cultural and artistic activities can be enjoyed has risen,” adding, “Especially due to the impact of COVID-19, the closer these facilities are to home, the higher the preference is expected to be.”

In Yangpyeong, POSCO E&C announced in April the sale of ‘The Sharp Yangpyeong River Foret,’ located near systematically arranged public cultural facilities known as the Art Culture Town. The Sharp Yangpyeong River Foret consists of six buildings with four basement floors and up to 23 floors above ground, totaling 453 households with exclusive areas of 76㎡ and 84㎡.

Right in front of The Sharp Yangpyeong River Foret complex, there is a concentration of facilities where residents can enjoy both culture and art, including an art museum, cultural center, and sports center. There are also spaces for learning, such as a lifelong learning center and an English experience learning center, catering to both children and adults, making it worthy of being called an Art Culture Town with diverse cultural and educational facilities. Additionally, a library and cultural center is scheduled to open in 2023.

The transportation conditions are also excellent. Yangpyeong Station on the KTX and Gyeongui-Jungang Line is within walking distance, and the surrounding area is well connected with major roads such as National Route 6, Provincial Route 88, and the Jungbu Inland Expressway. Furthermore, construction is underway for the Seoul Metropolitan Area 2nd Ring Expressway sections from Hwado to Yangpyeong (scheduled to open in 2022) and from Yangpyeong to Icheon (scheduled to open in 2026). The Seoul (Songpa) to Yangpyeong highway (preliminary feasibility study in progress) is expected to allow travel to Seoul in about 15 minutes once completed.

Since it is located in a highly scarce non-regulated area of the metropolitan area, the entry barrier is relatively low. Anyone aged 19 or older who has been a member of a subscription savings account for more than 12 months and meets the deposit requirements by area can apply as a first priority, whether they are the head of the household or a household member.

POSCO E&C is operating a sales promotion center in the Hanam area of Gyeonggi Province ahead of the model house opening.