When looking at apartment complexes famous as local landmarks or market-leading complexes, many maximize their locational advantages.
Examples include apartments located south of the Han River in Seoul applying north-facing designs to maximize waterfront views, or designing sky lounges to leverage the benefits of high floors and provide residents with more scenic views. These efforts aim to make the most of locational advantages, and such complexes tend to have higher preference among buyers.
In particular, waterfront views are highly valued due to the limited availability of such locations. According to a study published in June this year in the Journal of Real Estate Studies by the Korea Real Estate Society titled “Analysis of the Impact of Han River Views on Apartment Prices,” the actual transaction price increases by 0.5% for every 1 percentage point increase in Han River view rate.
When categorized into five levels based on the degree of Han River visibility from the living room?Level 1 (no view), Level 2 (limited view), Level 3 (partial view), Level 4 (considerable view), and Level 5 (full view)?the transaction price per square meter for Level 5 units was 13.4% higher than that of Level 1 units. Considering that Acro River Park recently traded at around 4.3 billion KRW (based on 84㎡), houses with good Han River views can have a price difference of up to approximately 570 million KRW compared to those without.
The 49-story Ansan Grand City Xi overcame locational disadvantages to become a representative apartment complex in Ansan, largely due to its east-facing layout offering views of Siwha Lake and the design of a sky lounge. In fact, the exclusive 84㎡ type was traded at 790 million KRW in October this year, forming a very high price range within Ansan city.
Additionally, Royal Park City Prugio near Wanggil Station in Seo-gu, Incheon, scheduled for sale this year, plans to leverage its proximity to the Ara Waterway by offering yacht tour services to residents, attracting significant attention with this unprecedented resident service.
Recently, “Harrington Mare,” built by redeveloping the Nam-gu Uam 1 district in Busan, has been gaining attention for its design that maximizes locational advantages.
Harrington Mare actively utilizes its bayfront location with Namdong and southwest-facing complex design and the North Port located in front of the complex, introducing Busan’s first triple sky bridges connecting the front-facing buildings. Taking advantage of the sky bridges, specialized community facilities such as sky party rooms, sky lounges, and sky guest rooms will be created on the upper floors.
Not only does it feature three sky bridges typically seen only in premium complexes, but Harrington Mare also boasts top-tier landscaping and community facilities. Specialized landscaping designs incorporating nature, such as various themed gardens and distinctive themed roads, will be applied. The complex plans to establish differentiated large-scale amenities including indoor and outdoor swimming pools and saunas, allowing residents to enjoy superior living conditions.
Harrington Mare consists of 17 buildings ranging from 5 basement floors to a maximum of 36 floors above ground, with a total of 2,205 households ranging from 37 to 84㎡ in exclusive area. Among these, 1,382 units sized 59 to 84㎡ will be available for general sale. The complex also secures pleasant natural views, offering various scenic options depending on the location of each household.
Furthermore, the complex is adjacent to the North Port redevelopment area and is equipped with diverse and abundant infrastructure including transportation, convenience facilities, and school districts. Notably, the Nam-gu area has recently gained momentum and heightened expectations due to the enthusiasm for hosting the 2030 World Expo. The North Port area is being developed as an international exchange hub for tourism, leisure, culture, and business functions. Regardless of the Expo hosting outcome, the facilities being developed are expected to be used as permanent facilities in the future, thus enhancing the area’s future value.
The Harrington Mare model house is planned to open in November.
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