- Enhanced visibility and accessibility boost foot traffic in street-style commercial complexes, increasing customer satisfaction
- Synergy expected among pre-established infrastructures within the housing district
The popularity of income-generating real estate within large-scale housing development districts, proven by high subscription competition rates, is soaring. When evaluating the value of commercial and office real estate, commonly referred to as income-generating properties, the most important factor is undoubtedly the underlying demand.
In fact, the commercial spaces within the Yeosu Ungcheon Forest Booyoung complex, supplied by Booyoung Construction in the Ungcheon Housing Development District of Yeosu City, Jeollanam-do, which was launched last November, were sold out with an average bid competition rate of 15:1 for the first complex and 6.61:1 for the second complex. In the same month, the ‘Hangang Duclass Goyang Samsong Tracity’ by Hangang Group, launched in the Samsong Housing Development Project District in Goyang, Gyeonggi-do, also gained high popularity by establishing differentiated street-type commercial spaces to enhance foot traffic, securing excellent visibility and accessibility.
Both the ‘Yeosu Ungcheon Forest Complex Commercial Spaces’ and the ‘Hangang Duclass Goyang Samsong Tracity’ are located in housing development districts, securing verified location conditions, as well as underlying demand within and around the complexes, making them popular as stable investment destinations.
Industry experts stated, “Commercial facilities within new towns or large-scale development areas attract demand due to abundant underlying demand and the synergy with established infrastructure.”
Amid the rising popularity of commercial facilities in housing development districts with abundant underlying demand, the ‘Hanam Gamil Hanyang Sujain Neighborhood Living Facilities,’ being sold in the B2BL area (Gamil-dong vicinity) of Gamil District, Hanam City, Gyeonggi-do, is drawing the attention of buyers.
Comprising a total of 35 street-type commercial units, the ‘Hanam Gamil Hanyang Sujain Neighborhood Living Facilities’ is located within the ‘Hanam Gamil Hanyang Sujain’ complex, which recorded a first-priority subscription competition rate of 60.9:1 in May 2020. This commercial facility is a newly launched complex whose location value has been verified by many buyers.
The complex secures residents as fixed underlying demand, and there are approximately 3,000 fixed-demand households within walking distance, including Gamil Geumgang Pentarium Central Park (684 households) and Hanam Gamil Sweet City 3rd Complex (578 households). Moreover, in addition to complexes where move-in is complete, many complexes are scheduled for continuous move-in, ensuring abundant underlying demand.
Additionally, the scarcity of commercial land in Gamil District stands out. The commercial land ratio in Gamil District is about 0.7%, which is low compared to adjacent housing development districts such as Wirye New Town (1.5%) and Hanam Misa District (3.5%), making it a region with high scarcity of commercial facilities. Furthermore, it is close to the commercial land in Gamil District and the ‘Acloud Gamil’ commercial facility (257 units), scheduled for move-in around June 2023, which is expected to create synergy between commercial zones.
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