- 3BAY and 4BAY Specialized Designs Highlighting Brand Value
- Financial Benefits Including 5% Deposit and Interest-Free Interim Payments Provided
Amid a somewhat sluggish real estate market, a clear preference is emerging for branded residential complexes introduced by major construction companies. This is thanks to the learning effect of consumers who have experienced brand premiums in the market.
As uncertainty in the housing market grows recently, the popularity of branded residential complexes is expected to increase further. They offer excellent product quality, enabling a more comfortable living environment, and are resilient against downward market pressures, making them attractive not only for actual residence but also as investment options.
An industry expert stated, “Although risks such as interest rate hikes are adding pressure to the market, branded residential complexes that are recognizable by name still show strong performance,” adding, “They often emerge as regional landmarks due to excellent locations and specialized internal designs, and their market prices tend to rise more noticeably compared to general complexes.”
For example, the sale price of the 59.93㎡ unit at ‘Baekryeonsan SK View I-Park’ located in Eungam-dong, Eunpyeong-gu, Seoul, remained around 600 million KRW in August 2019, surpassed 800 million KRW in June 2020, and showed a clear upward trend by reaching 970 million KRW in May this year. Similarly, the 123.67㎡ unit at ‘DMC Xi 1st Complex’ in Susaek-dong was sold for 1.2 billion KRW in January 2021 and rose to 1.5 billion KRW by May this year, gaining a premium of 300 million KRW in less than a year.
GS Construction’s ‘Xi’ is a widely recognized and acclaimed apartment brand. It consistently achieves good results at every project site and steadily solidifies its position as the top brand. In fact, in the ‘2022 Best Apartment Brand’ survey conducted last month by Real Estate R114 in collaboration with Korea Research, ‘Xi’ swept four out of six categories?△brand awareness △recognition △preference △investment value?earning the title of ‘the most preferred apartment brand by consumers this year.’
Consequently, there is growing interest in GS Construction’s newly launched complexes, notably ‘Eunpyeong Xi The Star’ in Sinsa-dong, Eunpyeong-gu, Seoul. This residential complex consists of two buildings with four basement floors and up to 25 floors above ground, totaling 312 households. The units are composed of highly preferred small to medium sizes: △49㎡ with 262 units (including rental units) and △84㎡ with 50 units.
As a GS Construction project, ‘Eunpyeong Xi The Star’ raises expectations in terms of design and infrastructure. It is equipped with convenient living facilities in a prime location and plans to create a high-quality complex with dynamic and diverse facade designs.
Specialized designs have been carefully developed to comfortably accommodate households ranging from single-person to four-person families. Every unit includes a dressing room, and residents can choose built-in wardrobes free of charge according to their preferences, allowing for more efficient use of space. The Xi Smart Home system operates intelligently along residents’ daily routines from waking up to going to bed. Convenience systems such as wider parking spaces (2.6m width compared to standard parking) and an unmanned parcel delivery system are also provided.
The 49㎡ units feature a 3BAY layout, which was difficult to enjoy in previous units of the same size. They also offer compact space configurations including two bathrooms and an island kitchen. The 84㎡ units incorporate a highly illuminated 4BAY design, a two-sided open living room, and a U-shaped kitchen to enhance both residential comfort and convenience.
With benefits such as interest-free intermediate payments and no paid options, the financial burden on buyers is expected to be reduced. Premium appliances including the next-generation ventilation air purification system Sysclean, Objet refrigerator, dishwasher, microwave oven, and hybrid cooktop are provided as standard, and European porcelain flooring is available as a free option. Additionally, buyers do not need to bear interest on intermediate payment loans, which is expected to mitigate the impact of recently rising loan interest rates.
Moreover, financial support is offered to reduce buyer burdens in this high-interest-rate era. When purchasing a small-sized unit, paying a 5% deposit allows the remaining 5% deposit to be interest-free loaned, and interest-free benefits are provided for intermediate payment loans on all units. This reduces the initial capital burden, making it easier for single-person households, newlyweds, and young adults starting their careers to afford.
Regarding infrastructure, Eungam Station and Saejeol Station on Subway Line 6 are within walking distance, and there is high anticipation for expanded transportation networks with plans for the Western Line (Saejeol Station~Yeouido~Seoul National University Entrance) and Goyang-Eunpyeong Line (Saejeol Station~Changneung New Town~Goyang City Hall). The metropolitan area express railway (GTX) Line A, scheduled to open in 2024, will also be conveniently accessible.
Within approximately 1 km of the complex are E-Mart Eunpyeong Branch and Hanaro Mart, providing excellent living convenience. Prestigious private schools such as Sangsin Elementary, Deoksan Middle, Soongsil High, Shinjing Science and Technology High, as well as Chungam Middle and Chungam High, are located nearby. An education-specialized street is planned to be developed at Sinsa Samgeori according to the Seoul Metropolitan Government’s special ordinance, which is expected to further improve educational conditions.
Meanwhile, ‘Eunpyeong Xi The Star’ is currently conducting first-come, first-served unit designation contracts, and resale is possible for some units. A model house is open, and detailed information can be found on the official website.
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