- ‘Gangnam of Ulsan’ Sinjeong-dong, Successive Apartment Supply Announced
- Hanshin Engineering to Launch ‘Ulsan Grand Park Hanshin The Hue’ Sale
The real estate market in Sinjeong-dong, Nam-gu, Ulsan is stirring.
Nam-gu, Ulsan is regarded as the prime affluent area, often referred to as the "Gangnam of the region," where Ulsan's core infrastructure is concentrated. Various administrative institutions, including Ulsan City Hall, are clustered here, and infrastructure for residential, business, commercial, and cultural purposes is already well established. However, despite the high residential preference, new apartment supply has been scarce, causing significant supply shortages for buyers. In fact, among the total 4,731 apartment units supplied in Ulsan last year, only one complex in Nam-gu was supplied, totaling just 191 units, which is only 4.04% of the total supply.
However, with apartment supply projects, including urban renewal projects, being announced one after another recently, expectations within the region are rising. Some optimistic forecasts suggest that with the formation of a large-scale residential town and the resulting population influx, this area will establish itself as a representative residential hub of Ulsan.
According to industry sources, the total number of apartment units awaiting supply in Nam-gu, Ulsan is estimated at 25 complexes with a total of 13,208 units. Of these, more than half, 8,428 units, are concentrated in Sinjeong-dong. The most anticipated project is the B-07 and B-08 district housing redevelopment in Sinjeong-dong. This mammoth-scale redevelopment project will include about 3,400 units across two complexes and is expected to have a positive impact on the overall local real estate market.
A local real estate expert said, "If the currently pending apartment supply proceeds smoothly, it will be an opportunity to solidify Sinjeong-dong, Nam-gu’s reputation as an affluent area," adding, "The living conditions in the area will improve dramatically, and the value increase due to the influx of residential demand can be expected, so buyers’ interest is higher than ever."
As Sinjeong-dong is set to transform into a new residential town, apartment supply is also beginning.
Hanshin Engineering & Construction plans to launch sales of ‘Ulsan Grand Park Hanshin The Hue’ in Sinjeong-dong, Nam-gu, Ulsan, later this month. The complex will consist of three buildings ranging from three basement floors to 31 floors above ground, comprising 302 apartment units with exclusive areas of 62 to 84㎡, 27 officetel units of 84㎡, and neighborhood living facilities. It is characterized by offering only small to medium-sized units, which are highly preferred by buyers.
‘Ulsan Grand Park Hanshin The Hue’ boasts an excellent location value. Notably, it is near prestigious school districts. Nearby schools include Cheongsol Elementary, Wolpyeong Elementary, and Hakseong High School, and residents can also benefit from the dense concentration of academies in Ok-dong. With the 30-40 age group with school-age children emerging as major real estate buyers, this complex is evaluated as meeting the needs of this demand segment.
The area is well connected by a comprehensive and rapid transportation network. The Industrial Tower Rotary, a key traffic hub in Ulsan, is adjacent, providing easy access to major roads such as Suam-ro, Samsan-ro, and Munsu-ro, as well as convenient highway access via Munsu IC and Ulsan IC. Accessibility to Taehwagang Station on the Donghae Line metropolitan railway, KTX Ulsan Station, Ulsan Express Bus Terminal, Ulsan Intercity Bus Terminal, and Ulsan Airport is excellent. Additionally, the Ulsan Urban Railway Tram Line 1, connecting Taehwagang Station and Sinbok Rotary, is planned, which will further improve transportation conditions.
Proximity to workplaces is another strength. It is easy to commute to various companies concentrated in Nam-gu, Ulsan, as well as to Hyundai Motor Company and Hyundai Heavy Industries. Furthermore, the Ulsan Technopolis Industrial Complex and Yongyeon Industrial Complex are nearby, making commuting conditions favorable.
One-stop living is also possible. Shopping facilities such as Hyundai Department Store, Lotte Department Store, and Ulsan Up Square are close by, along with large marts like Lotte Mart and Homeplus. The Samsan-dong area, one of the largest commercial districts in the region, is also easily accessible. In addition, cultural infrastructure including CGV, Lotte Cinema, and Ulsan Culture & Arts Center, as well as medical facilities like Ulsan Central Hospital and Ulsan Hospital, are well established. Moreover, Ulsan Grand Park, Seonam Lake Park, and Taehwagang are nearby, providing a pleasant residential environment.
Additional infrastructure expansion is also expected. A large-scale residential town with more than 3,400 units, including the B-07 and B-08 district housing redevelopment projects, is planned near the complex. Residential demand influx and the resulting neighborhood facilities and commercial districts are expected to develop rapidly, significantly improving living conditions.
A sales official said, "As Sinjeong-dong emerges as Ulsan’s new residential center, inquiries from local buyers about ‘Ulsan Grand Park Hanshin The Hue’ are continuing," adding, "Since it is located in a prime area where all key infrastructure can be utilized, it is expected to gain great popularity."
‘Ulsan Grand Park Hanshin The Hue’ will have a model house available for viewing.
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