"Look at the Value of Move-in Timing," Landmark 'Jangwi Xi Radiant'

'Jangwi Xi Radiant,' Representing Over 27,000 Households in the Emerging Residential Town, Expected to Have Future Value

There is a phrase frequently used in the real estate market: "Real estate always goes up anyway." Although there are periods of temporary decline, prices have always rebounded significantly. In particular, landmark apartments often emerge as leading properties representing their regions when the market recovers, setting trends in residential culture and market prices.

A representative example is 'Gyeonghuigung Xi,' located in Jongno-gu, Seoul. When Gyeonghuigung Xi was first offered for sale in 2014, a total of 963 households (excluding special supply) across complexes 2, 3, and 4 attracted 3,575 applicants, showing strong performance in subscription. However, it had to bear the label of unsold units at the contract stage because it was launched during a period of market stagnation.

However, by the first half of 2017, when complexes 2, 3, and 4 of Gyeonghuigung Xi were ready for occupancy, the market had recovered, and the jeonse (long-term lease deposit) prices began to reverse. Gyeonghuigung Xi, which had been an unsold complex, rose to become a landmark leading the local market prices.

According to actual transaction data from the Ministry of Land, Infrastructure and Transport, Gyeonghuigung Xi has never missed being the highest-priced property in Jongno-gu for the 84㎡ exclusive area each year. Specifically, the prices were 1.048 billion KRW (complex 2) in 2017, 1.6 billion KRW (complex 2) in 2018, 1.7 billion KRW (complex 2) in 2019, 1.87 billion KRW (complex 3) in 2020, and 2.218 billion KRW (complex 2) in 2021. This year as well, in April, the 84㎡ unit in complex 3 was traded at 2.3 billion KRW, continuing to set new local price records.

An official from K Real Estate Agency near Gyeonghuigung Xi said, "Gyeonghuigung Xi had unsold units because the market was weak at the time of sale, but as the market recovered at the time of occupancy, it established itself as the leading property in the area," adding, "There is a growing trend of people looking for apartments that will represent their regions when the market recovers in the future."

Meanwhile, attention is turning to 'Jangwi Xi Radiant,' introduced by GS Construction in Jangwi New Town. Although the real estate market is currently in a wait-and-see mode, it is analyzed that this complex will emerge as a regional landmark once the market recovers.

Jangwi Xi Radiant, located in Jangwi-dong, Seongbuk-gu, Seoul, is a large-scale apartment complex consisting of 31 buildings with a maximum of 31 floors above ground and 3 basement levels, totaling 2,840 households. Among these, 1,330 households with exclusive areas ranging from 49 to 97㎡ will be offered for general sale.

Jangwi New Town, where Jangwi Xi Radiant is located, is a large-scale residential complex undergoing redevelopment across 15 zones covering a total area of 1,108,351㎡. Once completed, including the nearby Kwangwoon University station area development project, it is expected to become a new residential town with approximately 27,000 households residing.

The residential environment is also excellent. It is within walking distance to Dolgoti Station on Seoul Subway Line 6, and access to the complex via Hancheon-ro and Bukbu Expressway is convenient. Nearby Dongbu Expressway and Internal Circulation Road provide easy access to various parts of the metropolitan area, and the underground construction project for Dongbu Expressway, scheduled to begin next year, is underway. Additionally, the GTX-C line and Dongbuk Line are planned nearby, which will further improve accessibility to Gangnam.

Surrounding the area are numerous elementary, middle, and high schools such as Jangwi Elementary, Namdaemun Middle, Seokgwan Middle, and Seokgwan High School, as well as universities including Hankuk University of Foreign Studies and Korea National University of Arts. Lifestyle convenience facilities such as E-Mart, E-Mart Traders, Hyundai Department Store, Lotte Department Store, CGV, and Kyung Hee University Hospital are also accessible.

Moreover, there are many nearby parks including Buk Seoul Dream Forest, which spans approximately 680,000㎡, Dream Forest Art Center, Ui Streamside Boulevard Park, and Odong Neighborhood Park. Additionally, the Jungnangcheon Stream flows to the east of the complex, allowing residents to enjoy hobbies and leisure activities using the connected walking trails.

Meanwhile, Jangwi Xi Radiant is scheduled to open its model house soon.