- No supply of first-tier brand apartments in Nonsan-si, Chungnam since December 2016
- Daegyo-dong area where the complex is built, a large-scale residential town with over 2,200 households and excellent living infrastructure
New apartments being sold in small and medium-sized provincial cities, where apartment supply has been scarce, are gaining popularity. In particular, Nonsan City in Chungnam Province has not seen any supply of first-tier brand apartments since December 2016, but a major construction company is preparing to launch apartment sales after six years.
Unlike large cities including Seoul, regions with an absolute shortage of supply have a high proportion of aging apartments, resulting in a large waiting demand for new apartments. Also, because demand exceeds supply, these apartments often become landmark complexes leading the local real estate market at the time of move-in.
According to the Korea Real Estate Board’s subscription website, the ‘Changwon Lotte Castle Centum Gold’ supplied in Masan, Changwon, Gyeongnam Province, last July, successfully closed with an average competition rate of 70.6 to 1 in the first priority subscription. This complex was the first apartment built in Masanhwoe-gu in about four years and was completed with high interest from buyers.
Meanwhile, new apartment supply is expected to decrease further for the time being, and sale prices are projected to rise significantly. In fact, the construction industry widely agrees that domestic and international raw material prices such as rebar and cement have surged sharply, and with interest rate hikes, the prices buyers must bear will increase further. Therefore, for those hoping to own a home, actively participating in subscriptions could be a good strategy.
Meanwhile, HDC Hyundai Development Company will launch ‘Nonsan I-Park’ in Daegyo-dong, Nonsan City, Chungcheongnam-do, in September. This is the first new supply in Nonsan City in over six years and the first ‘I-Park’ brand apartment introduced in the area, so high interest from buyers is expected.
‘Nonsan I-Park’ is located in Daegyo-dong, the original downtown area of Nonsan City, within a densely populated residential complex, allowing residents to use various already established living infrastructures immediately upon moving in. Additionally, a large-scale residential town with a total of 2,202 households, including this complex, is planned to be formed nearby, promising to become a ‘new residential area.’
The surrounding area is also rich in shopping and convenience facilities. Within walking distance are Hwaji Central Market and the central commercial district, allowing convenient access to shopping, hospitals, financial institutions, and various other amenities. Within a 1 km radius of the complex are public facilities such as Nolmae Kindergarten, Dongseong Elementary School, and Banwol Elementary School, with Nonsan Middle School, Saint Paul Girls’ Middle and High School, and Nonsan Technical High School also nearby.
Additionally, Nonsancheon Riverside Park is located near the complex, providing ample space for walking and leisure activities. Other neighborhood parks such as Nonsan Bridge Children’s Park and Park No. 2 are also close by, contributing to a pleasant residential environment.
A five-minute walk leads to KTX Nonsan Station and city bus stops, and nearby are the Nonsan Intercity Bus Terminal and Express Bus Terminal, making public transportation convenient. Furthermore, the complex has excellent access to the Nonsan-Cheonan Expressway, Seononsan IC, and National Routes 4 and 23, providing a wide-area transportation network for easy travel to other regions.
According to the announcement of the ‘4th National Railroad Network Construction Plan’ last June, KTX Nonsan Station will benefit from two newly selected railway projects: the Chungcheong Regional Metropolitan Railroad Phase 3 project (Gang-gyeong to Gyeryong) and the general railroad high-speed project (Honam Line Gasuwon to Nonsan). This will further improve wide-area accessibility to cities like Daejeon and Cheongju Airport. On the 24th, the general railroad high-speed project passed the preliminary feasibility study, accelerating the project’s progress.
‘Nonsan I-Park’ is planned to be built with 7 buildings ranging from 2 basement floors to 24 above-ground floors, totaling 453 households with exclusive areas ranging from 84 to 158 square meters. Detailed unit types include ▲84㎡A 151 units ▲84㎡B 146 units ▲84㎡C 82 units ▲106㎡ 71 units ▲152㎡ penthouse 2 units ▲158㎡ penthouse 1 unit, featuring rare medium-to-large units and Nonsan’s first terrace-type penthouses.
All units are primarily south-facing to maximize natural light and ventilation, offering popular 4Bay slab-type layouts, two-sided open tower-type layouts, and Nonsan’s first terrace-type penthouses, broadening choices for buyers. Additionally, differentiated designs with ample storage spaces such as dressing rooms, pantries, and multipurpose rooms (excluding some units) will maximize space utilization.
The first priority subscription eligibility requires applicants to be household heads aged 19 or older residing in Nonsan City, Chungcheongnam-do, Daejeon Metropolitan City, or Sejong Special Self-Governing City (with priority given to Nonsan residents), who are either homeless or own only one house, and whose entire household members have not won any other housing subscription in the past five years. Applicants must have held a subscription savings account for at least 24 months and meet deposit requirements by region and area.
‘Nonsan I-Park’ will have a model house available for viewing.
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