- Large-scale housing development project draws demand interest with expected future value
- Focus on Yeonsan Skychae El Centro, a reconstruction of Saeyeonsan Apartment in Yeonsan Station triple station area
The Yeonsan-dong area in Yeonje-gu, Busan Metropolitan City, is steadily increasing in residential preference due to large-scale housing development projects underway in various locations.
Yeonsan-dong, where Busan City Hall is located, is a vast administrative town housing the Busan Regional Police Agency, Busan City Council, Busan Regional Tax Office and Labor Office, and Yeonje District Office. As Busan’s major administrative systems have concentrated around Yeonsan-dong, housing supply has been intensively provided in the area to support the increased residential demand.
Most of the residential areas are located along Busan Subway Lines 1 and 3, including ‘Yeonsan The Sharp’ redeveloped from Yeonsan 2 District (moved in March 2019, 1,071 households), ‘Yeonsan Lotte Castle Gold Foret’ redeveloped from Yeonsan 6 District (moved in July 2020, 1,230 households), and ‘Hillstate Yeonsan 1 and 2 Complex’ redeveloped from Yeonsan 3 District (moved in November 2021, 1,651 households).
The popularity of Yeonsan-dong real estate can also be confirmed by actual transaction prices. According to the Ministry of Land, Infrastructure and Transport’s real transaction price disclosure system, an 84㎡C unit in ‘Yeonsan The Sharp’ was traded for 800 million KRW in May. This is an increase of 80 million KRW from the previous transaction price of 720 million KRW in February.
It is not only the sales market that is strong. The subscription results for recently sold complexes in the Yeonsan-dong area are also good. According to the Korea Real Estate Board’s subscription home, ‘Yeonsan Fore Seohui Star Hills,’ which was sold in February last year, recorded an average subscription competition rate of 81.8 to 1 for 105 general units excluding union members.
A local real estate agent said, “Originally, Yeonsan-dong is a highly preferred old downtown area in Busan with well-established living infrastructure,” adding, “With solid actual demand and well-formed commercial districts and infrastructure, the value of apartments in this area will continue to rise.”
Meanwhile, attention is focused on a complex that has rebuilt the Saeyeonsan Apartment in Yeonsan-dong, Yeonje-gu, Busan Metropolitan City, which is about to be sold.
Kolon Global will sell Yeonsan Haneulchae El Centro in Yeonsan-dong, Yeonje-gu, Busan Metropolitan City, in June. Yeonsan Haneulchae El Centro will be built with four buildings (including one officetel), ranging from four basement floors to 36 above-ground floors, with a total of 458 households. Among them, 196 units are for union members, 172 units for general sale, and 90 officetel units.
The apartments consist mainly of highly preferred small to medium-sized types with exclusive areas of 59㎡, 75㎡, and 84㎡. The number of units by type is △59㎡ 94 units △75㎡ 128 units △84㎡ 146 units. The officetel units will be offered in exclusive areas of 56㎡ and 72㎡.
The Yeonsan-dong area where the complex is located is a triple station area with Yeonsan Station, a transfer station for Busan Subway Lines 1 and 3; Gyodae Station, a transfer station for Line 1 and the Donghae Line; and Geoje Station on Lines 3 and the Donghae Line. In addition, various road transportation networks such as Geoje-daero, Bansong-ro, and Wondong IC are also concentrated here.
Yeonsan Haneulchae El Centro offers convenient access to living infrastructure centered around Yeonsan Station and Gyodae Station. It is equipped with various living infrastructures such as Homeplus (Yeonsan branch and Asiad branch), E-Mart (Yeonje branch), CGV Asiad, Busan Metropolitan City Hall, Busan Medical Center, Dong-Eui University Hospital, and Sajik Sports Complex.
In addition, the school districts are well established with Yeonseo Elementary School, Yeonsan Middle School, and Isabel High School, allowing safe commuting. Furthermore, it is adjacent to Baesan and Hwajisan mountains, Oncheoncheon Riverside Park, Hwaji Park, and Busan Citizens Park, providing a pleasant residential environment.
Besides its locational advantages, Yeonsan Haneulchae El Centro boasts excellent product quality. As a high-rise complex, it applies luxurious integrated glass railing windows.
Moreover, to enhance residents’ security and safety against the recent issue of wall pad hacking, the industry’s highest level of home network security system will be applied for the first time in Haneulchae. The new wall pads with the home network security system will have KISA BASIC+ security certification from the Korea Internet & Security Agency and dual security that blocks unauthorized user access. It also plans to allow residents to use home IoT services with peace of mind.
Additionally, considering consumer interest in inter-floor noise issues, a 60mm inter-floor noise buffer material has been applied to reduce noise. Furthermore, Haneulchae’s unique smart home services such as mobile remote control and voice recognition are expected to captivate consumers.
Furthermore, Yeonsan Haneulchae El Centro is attracting attention as a complex eligible for benefits under Busan City’s childbirth promotion policy, the ‘I-Mom Busan Plan.’ Through the I-Mom Busan Plan, some units in special supply for multi-child families and newlyweds can be purchased at a 5% discount on the balance of the supply price.
A sales official said, “Yeonsan Haneulchae El Centro is located in the ultra-station area of Yeonsan Station, a double station area for Busan Subway Lines 1 and 3, with excellent residential conditions such as elementary schools and Oncheoncheon within walking distance, and it also applies advanced security systems and benefits from the I-Mom Busan Plan, so inquiries about sales are continuing.”
The Yeonsan Haneulchae El Centro model house is scheduled to open in July.
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