As half of the apartments nationwide have surpassed 20 years since their occupancy, it is expected that there will be a strong movement toward relocating to new complexes. This is because in areas with a high rate of aging apartments, there is still significant demand waiting for new supply, and despite the decline in housing prices, the price gap between new and old apartments is large, making new apartments advantageous for price stability.
According to data from Real Estate R114, as of June 12, out of 10,690,776 apartments nationwide (excluding rental units), about 50.47% (5,955,046 units) are aged complexes that have been occupied for more than 20 years. This means that one in every two households lives in an apartment over 20 years old.
In particular, the aging rate of apartments in the five major provincial metropolitan cities, where new apartment supply has been less compared to the metropolitan area, is even more severe. According to Real Estate R114 data, the proportion of aged apartments (over 20 years) in the five major provincial metropolitan cities is 57.64% (as of June 12), which is 7.17 percentage points higher than the national aging apartment rate of 50.47%.
Among the five major provincial metropolitan cities, Daejeon Metropolitan City recorded the highest aging rate at 62.04%, followed by △Gwangju Metropolitan City (60.57%) △Busan Metropolitan City (57.37%) △Ulsan Metropolitan City (55.71%) △Daegu Metropolitan City (54.43%).
Given this situation, newly supplied complexes in the five major metropolitan cities have attracted great interest, drawing many prospective buyers. For example, ‘Sangmu Central Xi’ in Ssangchon-dong, Seo-gu, Gwangju Metropolitan City, which was supplied in June this year, attracted 8,400 applicants for 704 units (excluding special supply), recording an average competition rate of 11.93 to 1.
Also, ‘Eco Delta City Prugio Rin 27BL’ in Gangdong-dong, Gangseo-gu, Busan Metropolitan City, supplied in February this year, attracted 7,328 applicants for 605 units (excluding special supply), recording an average competition rate of 12.11 to 1.
An industry insider said, “The aging of apartments in the five major provincial metropolitan cities is intensifying, increasing the number of buyers who prefer new apartments with a pleasant living environment. Especially, complexes located in areas with excellent surrounding infrastructure and conditions for proximity to workplaces are receiving even more attention.”
Meanwhile, GS Construction and HDC Hyundai Development Company plan to supply ‘Dunsan Xi I-Park’ in Tanbang-dong, Seo-gu, Daejeon Metropolitan City at the end of June.
Dunsan Xi I-Park (jointly constructed by GS Construction and HDC Hyundai Development Company) will be developed on a scale of 1,974 units across 12 buildings, ranging from basement 2 floors to 42 floors above ground, with exclusive areas of 59 to 145㎡.
The complex is located in the Dunsan New Town living area, considered the center of Daejeon, allowing for convenient residential life. Residents can easily access various convenience facilities such as Galleria Department Store, Lotte Department Store, E-Mart, E-Mart Traders, Save Zone, CGV, and Megabox, making daily life convenient. Various public institutions and financial institutions, including the Government Daejeon Office, City Hall, Education Office, Prosecutor’s Office, and Police Agency, are also easily accessible within the administrative town. Additionally, Eulji University Hospital is nearby, and parks such as Boramae Park and Namsun Park are within the living area, providing good leisure options.
Moreover, schools such as Baegun Elementary School and Goejeong Middle and High Schools are within walking distance, and excellent educational conditions are provided with access to the highly popular Dunsan academy district nationwide.
The convenient transportation environment also raises expectations. The complex is adjacent to National Road No. 32, making access easy, and it is located within walking distance of Tanbang Station on Daejeon Subway Line 1, making it a station-area complex. It also offers easy access to metropolitan railroads such as KTX Seodaejeon Station and Daejeon Station, as well as highways including the Gyeongbu Expressway and the Honam Expressway branch.
Furthermore, the complex is evaluated as having excellent proximity to workplaces, with various public institutions including the Government Daejeon Office and numerous universities nearby. It is also close to Yuseong-gu, designated as a national industrial complex candidate site, and once the national industrial complex development is completed, the residential demand in the area is expected to increase significantly.
The complex will also feature various community facilities for residents’ convenience. These include an indoor swimming pool and kids’ pool usable throughout all four seasons. Additionally, there will be sports facilities such as an indoor golf practice range, fitness club, and table tennis room, as well as educational facilities like a small library and reading room for children. A cafeteria for residents will also be provided.
Outstanding product features are also anticipated. The complex layout mainly faces south (southeast and southwest), enhancing natural lighting, and some unit types feature specialized designs such as dual-sided openings and three-sided openings to maximize openness.
Meanwhile, the move-in for Dunsan Xi I-Park is scheduled for June 2025.
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