Rare New Apartments in Chungbuk Jecheon... Jecheon's First Xi 'Jecheon Xi The Sky' Scheduled for Sale in April

No New Supply for 5 Years and Zero Move-Ins for 2 Years Until Next Year... Jecheon’s First Xi Brand Apartment Draws Strong Buyer Interest

According to data from Real Estate 114, there have been zero apartment sales (excluding rentals) in Jecheon City over the past five years (2017?2021). During this period, 40,132 apartments were supplied in the Chungbuk region, with only Jecheon, Boeun-gun, and Goesan-gun having no new apartment supply. Nearby Chungju City supplied 4,430 apartments over the same five years.

As the drought in new apartment supply continues in Jecheon, Chungbuk, the prices of new apartments are steadily rising. The bigger issue is that there are no apartments scheduled for occupancy. Jecheon City has zero units planned for occupancy in 2022 and 2023. Other areas with no current occupancy include Yeongdong-gun, Boeun-gun, Okcheon-gun, and Goesan-gun.

In this context, the prices of new apartments in Jecheon City that are within five years of occupancy are showing a sharp upward trend. According to the Ministry of Land, Infrastructure and Transport’s apartment transaction price data, the 84㎡ unit of ‘Gangjeo Lotte Castle Premier’ in Gangje-dong, which was occupied in August 2017, was traded for 395 million KRW last September, a roughly 79% increase from 220 million KRW two years prior. The 84㎡ unit of ‘Shinwon Achim City The First’ in Cheonnam-dong (occupied in March 2019) also changed hands for 400 million KRW last September. Its price two years ago was 221 million KRW, representing about a 90% increase.

Regarding this, a representative from A Real Estate commented, “With no new apartments being supplied at all, demand is particularly high in the Gangjeo district, where new apartments are concentrated. As various industrial complexes move in and income levels improve, the need for new apartments is high, and expectations for new sales are strong.”

Many buyers are paying close attention to new apartments scheduled for sale. In particular, ‘Jecheon Xi The Sky,’ planned for sale by GS Construction in April at Jecheon Mini Complex Town, is attracting significant interest.

Jecheon Xi The Sky, located in Jecheon Mini Complex Town D1 Block (Sinwol-dong), is planned to be developed with 5 buildings ranging from 4 basement floors to a maximum of 37 floors above ground, totaling 713 units with exclusive areas ranging from 79 to 112㎡. The complex is composed mainly of mid- to large-sized units popular among buyers, with unit counts by exclusive area as follows: △79㎡ 64 units △84㎡A 215 units △84㎡B 106 units △84㎡C 175 units △84㎡D 31 units △101㎡ 61 units △112㎡ 61 units.

The complex is primarily oriented southward, and some units feature an innovative three-sided open floor plan maximizing service area. The ample distance between buildings enhances comfort and residential satisfaction within the complex. A sky lounge is designed within the complex, offering expansive views and a relaxing space. Various resident facilities such as a community care center, Mom’s Station, fitness facilities, and children’s playground are also planned.

To ensure safe living above ground, a 100% underground parking lot design is applied. Parking convenience is excellent with 1.56 parking spaces per household.

A sales official stated, “This is the first sales complex since October 2016’s Jecheon Shinwon Achim City in Cheonnam-dong,” adding, “As Jecheon’s first Xi apartment, buyers’ determination to purchase homes is considerable.” He continued, “Especially, the Xi brand premium is highly anticipated, and inquiries from outsiders such as those from Cheongju, who have experienced the learning effect in the past, account for 20?30% of calls, showing steady interest.”

The presence of various infrastructures nearby further enhances competitiveness. Approximately 100 meters away are planned sites for neighborhood living facilities and distribution business facilities within the mini complex town. A neighborhood park is planned just south of the complex, providing a good environment for leisure activities.

Jecheon 1st and 2nd General Industrial Complexes (Bio Valley) are located within about 2.5 km southwest radius of the complex, fulfilling the conditions for a residence close to workplaces.

Major road networks such as the Jungang Expressway Jecheon IC, Pyeongtaek-Jecheon Expressway, National Route 5, and National Route 38 pass near the complex, allowing convenient travel to other regions. Additionally, local roads like Yongdu-daero and Jecheonbuk-ro provide easy access within Jecheon.

‘Jecheon Xi The Sky’ will have a model house available, and a promotional center will operate until the model house opens.