Recent Housing Complexes See Soaring Subscription Competition Rates... Halla's July Launch 'Asan Hallabibaldi Smart Valley' Attracts Great Interest
As the routes of the 수도권광역철도 (GTX) begin to take shape, the real estate market around the railways is receiving significant attention. Improved transportation networks increase real estate values accordingly. This is why proximity to transportation facilities, including railway networks, ranks high among apartment selection criteria.
A representative example is the real estate market around KTX Cheonan-Asan Station, the central hub of the central region. In particular, Cheonan has been so popular that it was designated as a regulated area in December last year. Asan, adjacent to Cheonan and free from regulatory restrictions, has recently become the hottest place in the central region's real estate market.
In fact, real estate prices in the Asan area have been steadily rising. The new apartment sales market is also booming, with apartments consistently closing subscriptions in the first priority.
‘Harrington Place Smart Valley’ by Hyosung Heavy Industries, which went on sale on June 23, attracted 3,701 applicants for 393 units excluding special supply, closing the first priority subscription with an average competition rate of 9.42 to 1. The highest competition rate was 28.25 to 1 for the 84㎡A type, where 2,232 applicants competed for 79 units.
‘Hillstate Mojong Leoluce’ by Hyundai Engineering, launched in April in Asan Mojong 1 District, also closed first priority subscription with an average competition rate of 61.3 to 1 and a highest competition rate of 127.1 to 1, attracting 31,419 applicants for 514 units excluding special supply, achieving 100% early sell-out.
Real estate experts say, “Asan is rapidly emerging as a growth hub in the West Coast economic zone due to Samsung’s announcement of a 13 trillion KRW investment plan for next-generation display business and the government’s support agreement for investment activation and coexistence with small and medium enterprises,” adding, “Its future value is high, attracting strong interest from real estate investors.”
Asan, along with Cheonan, has a high jeonse-to-sale price ratio, allowing gap investment with relatively low burden. Unlike Cheonan, which is designated as a regulated area, Asan is free from such restrictions. It forms a metropolitan commercial area centered on Cheonan-Asan KTX Station and easily accesses Cheonan’s living infrastructure. Thus, it has location conditions that can attract not only Asan residents but also real demand from Cheonan.
Asan is located midway between the Seoul metropolitan area and Daejeon, making it convenient to use high-speed rail, railways, subways, expressways, national roads, and local roads. Commuting is possible not only to Seoul and the metropolitan area but also to industrial complexes in Dangjin, Chungnam, where Hyundai Steel and Dongbu Steel are located, and to Pyeongtaek Port in Gyeonggi Province. The good educational environment also makes it a preferred residential area for workers in nearby industrial complexes.
The population is steadily increasing. The total population of Asan City grew by 7.0% from 311,239 in 2015 to 333,105 in 2020, showing an average annual growth rate of 1.4%. As of the end of April this year, the total population reached 334,951, a 0.55% increase from the end of last year, and this growth trend is expected to continue.
Halla Corporation will launch the apartment ‘Asan Halla Vivaldi Smart Valley’ in July in Asan, the hot place in the central region’s real estate market.
This apartment will be built in the ‘Asan Smart Valley Industrial Complex’ residential complex in Asan City. It consists of 11 buildings ranging from 2 basement floors to 27 floors above ground, with a total of 998 units: 244 units of 54㎡ (exclusive area), 351 units of 65㎡, 151 units of 75㎡, and 252 units of 84㎡.
Among the three residential complexes in the Smart Valley Industrial Complex, it has the best location and the largest scale. Although administratively part of Asan, its living area belongs to Cheonan. It is located along the boundary river with Smile City, a large-scale new residential complex in Cheonan. Therefore, various living convenience facilities, including Costco Cheonan branch, are within walking distance. The Cheonan City Hall, Galleria Department Store, and Cheonan Sports Complex in the Buldang district of Cheonan are only 10 minutes away by car.
The ‘Asan Smart Valley Industrial Complex’ is expected to house manufacturing-related companies such as metal processing, medical, precision, optical, and electrical equipment industries. It is adjacent to industrial complexes like Samsung Display 1 and 2 and close to Asan Tangjeong 2 District and Tangjeong Technovalley. It is a convenient residential area for industrial complex workers expecting proximity to their workplace, securing a rich real demand base.
‘Asan Halla Vivaldi Smart Valley’ consists entirely of popular small to medium-sized units ranging from 54 to 84㎡ exclusive area. All units are mainly south-facing, and a 4-Bay design is applied to maximize natural lighting and ventilation. Parking is located underground, with no cars on the ground, and various specialized landscaping designs are applied to enable a pleasant and safe well-being residence.
Halla Vivaldi’s renowned education-specialized design is applied to the complex. Additionally, floor plans include multi-rooms, dressing rooms, pantries, and studies, allowing more spacious use compared to other complexes with the same area. This reflects the increased demand for indoor space due to more time spent at home for telecommuting and remote classes amid COVID-19.
The residential environment is also pleasant. There are abundant green spaces nearby, including Chaam Neighborhood Park. Samsung Daycare Center is nearby, and an elementary school site is planned, ensuring excellent educational conditions.
‘Asan Halla Vivaldi Smart Valley’ allows subscription regardless of household head or number of houses owned. Residents aged 19 or older living in Asan City or nationwide, with at least six months of subscription to a housing subscription savings account and meeting the deposit requirements for each housing type, can apply as first priority. The model house will be set up in the Asan area of Chungnam in July, and visits are possible through advance reservations on the official website.
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