Affordable Homeownership... 'Jangwijai Radiant' Attracts Attention with Various Floor Plans

From Exclusive 49㎡ Small Units to 97㎡ Medium-Large Units with Various Layouts... Increasing Interest from Actual Buyers

[Jangwi Xi Radiant Bird's-eye View]

As real estate transactions decrease, the proportion of small apartment sales is rising. This is analyzed as a shift toward small apartments, which have relatively lower financial burdens due to the base interest rate hikes.

According to data from the Korea Real Estate Board, among the total 243,514 apartment sales nationwide from the 1st to 3rd quarter of this year, transactions of apartments with exclusive areas of 60㎡ or less accounted for 128,947 cases, representing 52.95% of the total. This is higher than the 47.11% share of small apartment transactions during the same period last year. Especially in Seoul, the proportion was even higher. During the same period this year, 12,722 apartment sales were recorded in Seoul, with 6,925 transactions of apartments 60㎡ or smaller, accounting for 54.43%.

The increase in 1-2 person households also played a role. According to data from the Ministry of the Interior and Safety, as of last October, out of the total 23,697,051 households nationwide, 15,446,401 were 1-2 person households, representing 65.18% of the total. This is a significant increase compared to the 60.32% share of 1-2 person households in October 2019, three years ago.

Real estate experts said, “As the base interest rate continues to rise, there is a trend of concentrating on small apartments where it is possible to own a home with a relatively smaller amount of money,” adding, “Especially in apartments offered by large construction companies, innovative designs are applied so that even small units can be lived in comfortably, which increases their preference.”

Meanwhile, GS Construction announced the sale of ‘Jangwi Xi Radiant’ in the Jangwi-dong area of Seongbuk-gu, Seoul. Jangwi Xi Radiant is another large-scale single-brand ‘Xi’ apartment complex following ‘Banpo Xi,’ which has 3,410 households located in Seocho-gu, Seoul, and is expected to emerge as a landmark representing northern Seoul.

Jangwi Xi Radiant attracts more attention as it includes small units preferred by 1-2 person households with low financial burden, as well as a variety of floor plans up to medium-large units with exclusive areas of 97㎡. Residents can move to larger units within the complex if their family size increases after living in a small unit.

The location is also excellent. It is within walking distance of 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 allow easy travel to various parts of the metropolitan area, and the underground construction project of Dongbu Expressway, scheduled to start next year, is underway. The GTX-C line and Dongbuk Line are also planned nearby.

Surrounding schools include Jangwi Elementary, Namdaemun Middle, Seokgwan Middle, and Seokgwan High School, with many universities such as Hankuk University of Foreign Studies and Korea National University of Arts nearby. 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.

In addition, there are many nearby parks including Buk Seoul Dream Forest, which spans about 680,000㎡, Dream Forest Art Center, Uicheon Riverside Street Park, and Odong Neighborhood Park. The Jungnangcheon Stream flows east of the complex, allowing residents to enjoy hobbies and leisure activities using the connected walking trails.

The model house of Jangwi Xi Radiant will be open for viewing after the opening day.