Commercial Vacancy Rate Plummets... 'Jecheon Xi The Sky' Complex Shops Scheduled for Bidding on the 27th

- In addition to fixed demand from residents, plans to add tax office, public office (planned), and multi-family housing
- Street-type structure with high visibility... high exclusive rate of 85% for small to medium-sized units

The bidding for the commercial spaces within the ‘Jecheon Xi The Sky’ complex is scheduled to take place on Saturday, August 27. A project briefing session will also be held on Friday, August 26. The commercial spaces have secured a solid fixed demand, and the Jecheon Mini Complex Town is emerging as a new regional hub, enhancing its investment value. Additionally, with the normalization of daily life under the With-Corona policy, the commercial market is experiencing a favorable wind, further heating up the sales enthusiasm.

The commercial spaces within Jecheon Xi The Sky are located in D1 Block of Jecheon Mini Complex Town in Jecheon-si, Chungbuk (Sinwol-dong), consisting of a total of 15 units combining 11 units in Zone 1 (exclusive area 9?21㎡) and 4 units in Zone 2 (exclusive area 6?9㎡).

[Jecheon Xi The Sky Complex Commercial Area Bird's-eye View]

These commercial spaces have secured a fixed demand from 713 households residing in Jecheon Xi The Sky, and the Jecheon Mini Complex Town plans to include multiple infrastructures such as public offices (planned), tax office, schools (planned), and residential facilities, which will further increase the hinterland demand.

Moreover, the complex is adjacent to a neighborhood park, ensuring a continuous flow of foot traffic. Notably, these facilities are densely clustered in a ‘ㄷ’ shape centered around Jecheon Xi The Sky, making it a highly accessible and fluid “jar-shaped” commercial district.

In addition, the 1st and 2nd General Industrial Complexes and the Bio Valley are located nearby, and the 3rd General Industrial Complex is also under development, raising expectations for hinterland demand and further enhancing the future value of Jecheon Mini Complex Town.

The commercial spaces are arranged in a street-type layout along the main entrance road, offering excellent visibility. Furthermore, the surrounding land, including a planned office complex located opposite, can be connected with traffic signals, boasting outstanding accessibility. The commercial units are composed of small to medium-sized types preferred by investors, which also reduces the purchasing burden.

The exclusive use ratio of the commercial spaces is also high at about 85%. The exclusive use ratio refers to the actual usable area excluding common spaces from the total sold area. Because the actual store space is spacious, buyers can enjoy the effect of purchasing at a relatively lower price.

Recently, the vacancy rate of commercial spaces has been declining, creating a positive market atmosphere. According to the Korea Real Estate Board, the nationwide vacancy rate for small-scale commercial spaces in the second quarter of this year was 6.6%, down 0.2 percentage points from the previous quarter. In Jecheon, areas such as Jecheon Station (2.5%) and Jecheon Central (2.2%) are recording natural vacancy rates, indicating a hot market atmosphere. Commercial property prices are also rising. According to Real Estate R114, the average nationwide commercial property price in the first half of this year (January to June) reached 20.62 million KRW per 3.3㎡, the highest since related statistics began. This is attributed to reduced vacancy risks following the easing of social distancing and a balloon effect due to transaction regulations on apartments and other properties.

A sales official stated, “As a branded commercial facility located in the Mini Complex Town, which will become the new center of Jecheon, it offers high cost-effectiveness and stable 24-hour demand, making it an optimal space for various businesses from convenience facilities to food and beverage.” He added, “Above all, the fact that the commercial spaces are priced in the 10 million KRW range and come with exceptional contract conditions makes it a low-burden investment option and a place that can present a new direction for investors.” He also said, “We are planning to disclose the pros and cons of the Jecheon Xi complex commercial spaces, the bidding method, and the reserve price at the project briefing session, so we ask for active participation.”

The bidding for the commercial spaces within Jecheon Xi The Sky complex will be held at the model house on Saturday, August 27.