SM Gyeongnam Enterprise Supplies Brand Follow-up Complex 'Jangheung Station Gyeongnam Honorsville Bukhansan View'

- Successful local brands continue additional supply
- Following ‘Songchu Bukhansan Gyeongnam Honorsville’, ‘Jangheung Station Gyeongnam Honorsville Bukhansan View’ for sale

Recently, apartments launching follow-up sales such as the 2nd phase after the 1st phase in the same area are gaining attention and thriving due to halo effects and brand town premiums.

The follow-up complexes additionally offered tend to have high reliability as they have already been verified by demanders in terms of location, transportation, and living infrastructure during the 1st phase sales, often forming a strong demand base. Especially when the 1st phase sells well and forms a premium, the follow-up naturally benefits from the halo effect, and there is also an expectation of capital gains through the premium formed in the existing sales complex.

Moreover, when a large-scale brand town is created through follow-up sales, it is highly likely to establish itself as a landmark apartment leading the local market price due to its high recognition and frequent transactions within the region, attracting interest not only from actual users but also from investors.

For these reasons, complexes undergoing follow-up sales in the same area generally show high subscription competition rates. For example, in January this year, ‘Jeil Punggyeongchae Geomdan Phase 3’ in Geomdan New Town, Seo-gu, Incheon, conducted through private pre-subscription, attracted attention as a follow-up complex to ‘Jeil Punggyeongchae Geomdan Phase 1,’ which successfully completed sales last December with the highest number of subscription applications in Geomdan New Town, closing the first-priority subscription with an average competition rate of 81.88 to 1. Following that, ‘Jeil Punggyeongchae Geomdan Phase 2’ also recorded an average competition rate of 30.31 to 1 in the first priority.

[Jangheung Station Gyeongnam Honorsville Bukhansan View Perspective, Photo by SM Group]

Meanwhile, follow-up sales are continuing in Jangheung-myeon, Yangju-si, Gyeonggi-do, drawing the attention of demanders. The protagonist is ‘Jangheung Station Gyeongnam Honorsville Buksan Hanview,’ supplied by SM Gyeongnam Enterprise, a construction division affiliate of SM Group, marking the second brand apartment following the 1st phase ‘Songchu Bukhansan Gyeongnam Honorsville’ in Jangheung-myeon. The complex is located in the Ilyeong District area of Jangheung-myeon, Yangju-si, Gyeonggi-do, consisting of 14 buildings from basement 2 floors to a maximum of 20 floors above ground, totaling 741 households (B4·B5 blocks) as a large complex. All units are offered in a single exclusive area of 84㎡, preferred by actual users.

‘Songchu Bukhansan Gyeongnam Honorsville,’ which was sold in 2020 and is scheduled for move-in this October, has attracted attention as a complex that enjoys the pristine natural environment embracing Bukhansan Mountain along with convenient access to transportation and living facilities. Despite the impact of COVID-19, it recorded a complete sell-out within two months of sales, and currently, a premium of up to 100 million KRW has formed on the sales rights. Since the same brand in the same area successfully completed sales, Jangheung Station Gyeongnam Honorsville Buksan Hanview is also gathering high interest from demanders.

Jangheung Station Gyeongnam Honorsville Buksan Hanview is currently operating a model house, and the official contracts for B4 block will be conducted over four days from the 18th (Monday) to the 21st (Thursday).