- 'Jungangnam' Seongnam Old Downtown Apartment Prices Hit Record Highs Consecutively
- First Round of Union Member Recruitment Closed... Second Round of Union Members Being Recruited on a First-Come, First-Served Basis
As new apartment prices in the Seoul metropolitan area continue to hit record highs, the old downtown area of Seongnam is gaining attention. The residential neighborhoods, previously dominated by old houses, are being transformed into high-rise apartments one after another, attracting not only actual homebuyers but also investors.
According to real transaction data from the Ministry of Land, Infrastructure and Transport, newly built complexes in Seongnam are joining the 1 billion KRW club one after another. The pre-sale right for an 84㎡ unit at 'Sinheung Station Haneulchae Landers One' in Jungwon-gu, Seongnam, was traded at 1.25 billion KRW in December last year, setting a new record. The 74㎡ unit at 'e-Pyeonhansesang Geumbit Grand Maison' also traded at 1.07057 billion KRW, surpassing the previous high price.
Seongnam’s old downtown area is popular because it is close to Seoul and has well-established transportation infrastructure. Additionally, the Seongnam 2030 Urban Master Plan is being promoted, leading to active redevelopment and reconstruction. Seongnam city has newly designated 10 reconstruction complexes in the 2030 master plan, and including Mido (Dandae-dong) from the 2020 master plan, a total of 11 complexes are undergoing reconstruction.
A real estate industry official said, "While Bundang has aged since its first move-in in 1991, Seongnam’s old downtown is a 'hot' area with maintenance projects underway in 25 zones. It is adjacent to Seoul’s Songpa-gu and Wirye, and with easy access to Gangnam via Line 8, Bundang Line, and Shinbundang Line, it is expected to continue its upward trend."
Meanwhile, the Taepyeong District Housing Association Promotion Committee is recruiting members for ‘Taepyeong Hills One’ in the Taepyeong-dong area of Seongnam. The first round of member recruitment has ended, and the second round is currently being accepted on a first-come, first-served basis.
Taepyeong Hills One is planned to be located in Seongnam, adjacent to Wirye. It is also close to large-scale branded complexes such as Sanseong Station Forestia (4,998 households) and Sanseong Station Xi Purujio (4,774 households).
The complex offers easy access to Taepyeong Station, Sinheung Station, Seongnam-daero, the Bundang-Suseo Expressway, and the Seoul Ring Expressway, allowing residents to enjoy the Gangnam and Songpa living zones. It also boasts abundant living infrastructure including convenience facilities in Wirye New Town, E-Mart, Seongnam Medical Center, Sujeong District Office, and welfare centers.
Taepyeong Hills One does not require a subscription savings account for housing, and the membership recruitment price is lower compared to nearby market prices, reducing the financial burden. Membership qualifications are not strict and include: ▲ as of the date of the association establishment approval application, one year prior ▲ household head residing in Seoul, Gyeonggi, or Incheon for more than six months ▲ either a non-homeowner or owner of one unit with a floor area of 85㎡ or less.
The site is located in Seongnam, Gyeonggi Province, and the housing information center is in Yongin, Gyeonggi Province. Due to strengthened COVID-19 safety measures, visits to the housing information center are possible only by prior reservation.
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