- Apartment Prices Rise Around Cheongju Express Bus Terminal Complex Development
- ‘Hillstate Cheongju Central’ Offering Differentiated Community and Concierge Services Scheduled for Sale
The Cheongju Express Bus Terminal complex development project, which has garnered high expectations from many Cheongju citizens, has officially begun construction. This project, which received building permits and implementation plan approval from Cheongju City in September last year, is currently undergoing site demolition work.
In particular, the Cheongju Express Bus Terminal complex development project, expected to transform into a representative complex cultural complex of the region, will be reborn as a mixed-use facility with 7 basement floors and 49 above-ground floors, totaling a gross floor area of 166,149㎡, while maintaining the existing terminal functions and including cultural assembly facilities, retail facilities, and accommodation facilities. Additionally, a high-end residential accommodation facility called ‘Hillstate Cheongju Central’ will be supplied, offering 160 units with exclusive areas ranging from 165 to 187㎡, featuring differentiated community spaces and hotel-style concierge services. Furthermore, a residential-commercial complex including multi-family housing and neighborhood living facilities is also planned on this site.
A real estate industry official in Gagyeong-dong stated, “Many residents are showing interest in the Cheongju Express Bus Terminal complex development project, and apartment prices in the area are rising due to development expectations,” adding, “Given the scale of the project, prices are expected to rise further as the completion date approaches.”
In fact, apartment prices in Gagyeong-dong, Cheongju City, have shown a steep upward trend since the Cheongju Express Bus Terminal complex development project was concretized in September 2020. According to data from Real Estate 114 Labs, the average price per 3.3㎡ of apartments in Gagyeong-dong rose from 8.7 million KRW in September 2020 to 9.86 million KRW in March 2021, an increase of 13.3% in just six months.
The price increase trend is also high for individual complexes. The ‘Garosu Village Seongwang Roswell’ apartment, located near the express bus terminal site, saw the price of an 84.99㎡ unit rise from 330 million KRW in August 2020 to 403 million KRW in April 2021, showing a price increase of 70 million KRW in less than a year.
The prices of large-sized complexes expected to benefit are even higher. For example, ‘Shinyoung J-Well City Phase 1’ located in Bokdae-dong, Heungdeok-gu, saw a 152.65㎡ unit trade for 920 million KRW in June last year and 1.39 billion KRW (27th floor) in June this year, an increase of 470 million KRW in one year. Also, the ‘Cheongju Gagyeong I-Park Phase 3’ in Gagyeong-dong, Heungdeok-gu, had a 105.64㎡ pre-sale right traded for 817.49 million KRW (15th floor) in April this year, up 241.06 million KRW from 576.43 million KRW (18th floor) in April last year.
As a result, much attention is focused on the residential accommodation facility complex, which is the first to be supplied in the Cheongju Express Bus Terminal complex development project.
‘Hillstate Cheongju Central,’ a residential accommodation facility supplied by Hyundai Engineering in Heungdeok-gu, Cheongju City, Chungcheongbuk-do, is expected to offer the convenience of shopping and cultural facilities within the complex, as well as a premium due to the complex development.
Moreover, Gagyeong-dong, where the complex is located, is a new town with well-established infrastructure, making it convenient to live in. It is also relatively free from regulations, making subscription and loan conditions less stringent, attracting much interest from actual users and investors.
In particular, the complex applies a hotel-style lobby to add luxury, and introduces community facilities and hotel-style services that attract attention. On the top floor, the 49th floor, community facilities such as a sky lounge, party banquet room, outdoor spa & sauna, fitness center, and GX room are established, allowing residents to enjoy leisure activities with an open view. Additionally, hotel-style concierge services such as breakfast service, clean care service, butler service, and car care service are provided.
The interior space is designed with open balconies to allow residents to fully enjoy unobstructed views and sunlight rights from inside, and a clean system including air shower gates and entrance air shower systems is installed to enable a comfortable indoor living environment. Furthermore, private elevator halls for a high-end lifestyle, ample parking space with 2.4 spaces per unit, and wide parking lots measuring 2.5 to 2.6 meters are provided.
The sales promotion center for ‘Hillstate Cheongju Central’ will be located in Cheongju City, Chungcheongbuk-do, and will operate on a 100% reservation basis.
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