Detached House Lots Also for Sale
130 to 200 Million Won per Pyeong
Gyeongbuk Development Corporation, which is promoting the ‘Gyeongbuk Provincial Government New Town Phase 2 Construction Project,’ announced on the 31st that it will sell 9 parcels of neighborhood living facility land, where commercial buildings can be constructed, at 3 million KRW per pyeong.
All of this land is partially completed land, available for use starting in 2024, and ownership transfer will be possible in the second half of 2024.
The neighborhood living facility land being sold by Gyeongbuk Development Corporation is located in Andong City, consisting of 9 parcels. It is adjacent to single-family residential land and to the east lies Hominji Waterfront Park, which spans 100,000 pyeong.
Hominji Waterfront Park, utilizing its beautiful natural scenery, is planned to include mixed-use residential complexes, Hanok-style hotels, and the Hahoe Scientist Village. It is gaining attention as a landmark area that will serve not only as a resting space for residents but also as a stay-type tourism function linked with the nearby Hahoe Village.
The supply area per parcel of the neighborhood living facility land being sold this time ranges from 430㎡ to 477㎡ (130 pyeong to 144 pyeong), with an expected price of about 3 million KRW per pyeong. Successful bidders will be selected through Onbid bidding. The application and deposit payment period is from 10:00 AM on August 7 to 4:00 PM on August 14, and the bid opening and winner announcement are scheduled for August 16.
Gyeongbuk Development Corporation will also sell 31 parcels of store-attached single-family residential land in Yecheon County on August 3. This land is located within a single-family residential area where sales have already been completed, and more than 2,000 apartment units are planned to be built across the street.
It is adjacent to Family Park, which includes a water playground and camping site. The supply area per parcel ranges from 234㎡ to 306㎡ (70 pyeong to 92 pyeong), with an expected price of about 2 million KRW per pyeong. Successful bidders will be selected through Onbid bidding. The application and deposit payment period is from 10:00 AM on August 14 to 4:00 PM on August 21, and the bid opening and winner announcement are scheduled for August 23.
Gyeongbuk Development Corporation plans to sell 106 parcels of single-family residential land in early September. The supply area per parcel will be 237㎡ to 340㎡ (71 pyeong to 103 pyeong), with a price of about 1.3 million KRW per pyeong. The land will be supplied by lottery to actual buyers who wish to build houses. By breaking away from the standardized existing residential spaces and creating a differentiated high-quality single-family housing complex early, the Lake Village and Hominji area are expected to become new landmarks of the Gyeongbuk Provincial Government New Town.
The Gyeongbuk Provincial Government New Town is planned as a self-sufficient city for 100,000 residents, with the Phase 2 construction project covering about 1.8 million pyeong currently about 60% complete. Considering the characteristics of the new town, where the average age is 33 and 80% of the population is under 40, Phase 2 focuses on creating an education-friendly city for raising children, and is preparing to open Family Park, a 40,000-pyeong facility including a water playground and camping site, to enable cultural and leisure activities within the city.
With the development of the Andong National Industrial Complex, designation of a high-tech industrial complex within the Gyeongbuk Provincial Government New Town, and expansion of infrastructure, population inflow into the new town is expected to gradually increase. The supply of various types of land within Phase 2 of the new town is also expected to continue for the time being.
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