- Gunsan Gyeongnam Honorsville The Ocean, a large complex of 873 apartment units with exclusive areas of 84~105㎡ attracts demand
- Amid expectations of large complex premium, Gunsan Gyeongnam Honorsville The Ocean achieves highest competition rate of 130:1 and successful subscription within ranking
Amid ongoing mixed trends in the real estate market, large-scale apartment complexes continue to show strong performance in the sales market.
In fact, the ‘Hillstate Geomdan Wolcounty’ in Bullo-dong, Seo-gu, Incheon, which was launched in April, stood out as a large-scale branded apartment complex with 1,535 units, recording a high average subscription competition rate of 80.12 to 1. Similarly, the ‘Daejeon Doma Byeondong Hoban Summit Grand Central’ in Seo-gu, Daejeon, launched in February, also showed a strong competition rate of 16.09 to 1 for its large-scale complex of 1,558 units.
This is analyzed to be because branded large-scale apartment complexes not only have well-equipped auxiliary facilities and landscaping but also experience a rapid influx of population upon move-in, leading to swift infrastructure improvements.
In particular, large-scale apartment complexes secure a solid demand base in the sales market, making them relatively less affected by fluctuations in the real estate market. Therefore, regardless of market conditions, they have abundant transaction volumes and higher price appreciation, generating considerable expectations for future value.
Another advantage is the relatively lower common maintenance fees. Due to economies of scale, the more units there are, the lower the common maintenance fee burden per household becomes.
Based on these various advantages, large-scale apartment complexes often become landmarks within their regions in the future. Construction companies also put great effort into creating large-scale apartment complexes by applying differentiated specialized designs unique to their brands and diverse community facilities, thereby maximizing rarity and symbolic value.
An industry insider said, “Even in a situation where the enthusiasm in the sales market has somewhat cooled due to the impact of inflation, complexes supplied as branded large-scale developments are showing decent sales results,” adding, “Especially since the brand value combined with the advantages of large-scale complexes creates significant expectations for becoming landmarks within the region, demand from buyers continues.”
Meanwhile, SM Kyungnam Enterprise is attracting attention as it is currently selling Gunsan Kyungnam Honorsville The Ocean in Jochon-dong, Gunsan-si, Jeollabuk-do. The complex consists of 11 buildings, ranging from 5 basement floors to 29 above-ground floors, with 873 units of apartments sized between 84 and 105 square meters.
According to the Korea Real Estate Agency’s ‘Subscription Home,’ Gunsan Kyungnam Honorsville The Ocean successfully closed all types during the second-round subscription held on the 24th of last month (Wednesday), achieving a full subscription within the ranking.
In particular, the 105㎡ type drew attention by closing the first-round subscription on the 23rd of last month (Tuesday) with an overwhelming competition rate of 130 to 1 (including relevant and other categories). This is the highest competition rate among complexes launched in Gunsan since 2021, and based on this subscription result, it is expected that the subscription enthusiasm in the Gunsan sales market will become even hotter.
This is analyzed as a result of the combined interest in SM Kyungnam Enterprise’s brand value and large-scale apartment complexes.
First, since the complex is constructed by SM Kyungnam Enterprise, which has extensive know-how, it boasts excellent product competitiveness rarely seen in other complexes. The layout focuses on the 84㎡ floor plan, which is highly preferred by actual users, with mostly south-facing units to maximize sunlight and daylight. Most units are designed with a 4Bay structure, offering excellent views and space utilization. Inside, ample storage spaces such as pantries and dressing rooms are also provided separately.
Additionally, various auxiliary facilities such as daycare centers, small libraries, top-class resort-style fitness centers, indoor golf practice ranges, and guest houses are planned within the complex.
Moreover, the complex is designed as a park-type community with no cars on the ground, allowing residents to enjoy a safe living environment.
It also boasts excellent living infrastructure. Jochon-ro (Richway), where the complex is located, is an emerging residential area extending from The Ocean City to the administrative town and is a representative affluent neighborhood in Gunsan, Jeollabuk-do.
The complex is conveniently close to large shopping facilities such as Lotte Mall Gunsan, the largest shopping mall in Jeollabuk-do, and E-Mart, as well as amenities like Lotte Cinema, the administrative welfare center, and Gunsan City Hall. Additionally, Jeonbuk National University Hospital, with a total floor area of 66,613㎡, is scheduled to open in 2027. The adjacent The Ocean City and administrative town, developed through a 596,163㎡ large-scale complex construction project, will provide convenient access to a key location within the region.
The complex also embraces abundant natural surroundings. Residents can easily visit green spaces such as the Geum River, Gunsan front sea, Gunsan Lake, and Wolmyeong Sports Complex, allowing them to enjoy a healing lifestyle within the city.
It also offers a one-stop school zone with easy walking access to Gyeongpo Elementary School, Gunsan-dong Elementary School, and Gunsan Jeil Middle and High Schools.
Meanwhile, Gunsan Kyungnam Honorsville The Ocean is located in Gunsan-si, Jeollabuk-do, which is a non-regulated area, allowing resale of pre-sale rights. This is expected to attract interest not only from actual users but also from investors, raising expectations for the final premium despite the mixed trends in the real estate market.
It is reported that more than 10,000 visitors came to the gallery, which opened on the 11th of last month (Thursday), within five days. Many visitors have continued to visit since then, and the gallery is currently operating successfully. The gallery is open for visits without prior reservation.
Gunsan Kyungnam Honorsville The Ocean will conduct official contracts for four days from September 13th (Tuesday) to 16th (Friday).
Meanwhile, the ‘Gunsan Kyungnam Honorsville The Ocean’ gallery is currently in operation.
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