Preference for Large and Medium-Sized Apartments in Metropolitan Cities... Interest in 'Sangmu Central Xi'

- Subscription Performance Overwhelming for Units Larger Than 84㎡ Exclusive Area... Premium Formation Also
- Sangmu Central Xi, All Units Medium to Large Size... High-End Design Attracts Attention

[Sammun Central Xi_Perspective]

Recently, there has been intense interest in medium- to large-sized apartments in the five major metropolitan cities. Looking at the complexes launched this year in these cities, units with exclusive areas exceeding 84㎡ have achieved high subscription results. The industry attributes this trend to an increase in people seeking spacious living spaces following the COVID-19 pandemic.

Analyzing the subscription results of complexes launched this year in the five major metropolitan cities, it is clear that medium- to large-sized floor plans have overwhelmingly higher competition rates. According to Real Estate 114 data, from January to October, a total of 35 complexes in the five major metropolitan cities received subscriptions. Among these, 10,787 units with exclusive areas over 84㎡ were offered through general supply, attracting 111,274 first-priority applicants, resulting in a competition rate of 10.32 to 1. In contrast, 3,078 units with exclusive areas of 84㎡ or less were offered through general supply, with only 14,063 first-priority applicants, recording a competition rate of 4.56 to 1.

Even when looking at individual complexes, the subscription competition rate for medium- to large-sized floor plans is significantly higher than that for small- to medium-sized floor plans. In May, Lotte Construction launched ‘Lotte Castle Infiniel’ in Munhyeon-dong, Nam-gu, Busan, consisting of exclusive areas of 36㎡, 59㎡, and 84㎡. The first-priority subscription results showed that the 84㎡ units recorded the highest competition rate in the complex at 16.5 to 1. In contrast, the 36㎡ A and B types recorded 1.8 to 1 and 1 to 1, respectively, while the 59㎡ A and B types showed low competition rates of 0.25 to 1 and 1.2 to 1, respectively.

In April, DL Construction launched ‘e-Pyeonhansesang Bongseon Celestige’ in Bongseon-dong, Nam-gu, Gwangju, where the 85㎡ units recorded the highest competition rate of 17.29 to 1. Meanwhile, the 64㎡ A and B types recorded 1.02 to 1 and 0.54 to 1, respectively.

As demand for medium- to large-sized units is high, premiums on units exceeding 84㎡ are also rising. According to the Ministry of Land, Infrastructure and Transport, an ‘LCT’ unit with an exclusive area of 186㎡ (30th floor) in Jung-dong, Haeundae-gu, Busan, was traded for 4.7 billion KRW in April. The original sale price was 2.165 billion KRW, marking an increase of over 2.5 billion KRW.

Meanwhile, ‘Sangmu Central Xi’ by GS Construction, currently being sold on the former Honam University Ssangchon campus site in Seo-gu, Gwangju, is attracting high interest because all unit types exceed 84㎡ in exclusive area.

‘Sangmu Central Xi’ consists of a total of 903 units ranging from 84 to 247㎡. Breaking down by exclusive area: ▲84㎡ 438 units ▲125㎡ 326 units ▲150㎡ 54 units ▲185㎡ 42 units ▲205㎡ 30 units ▲157~247㎡ T 13 units. Notably, the 157~247㎡ T type is a rare studio terrace house designed as a duplex on the 1st and 2nd floors.

Since it consists solely of medium- to large-sized units, it is expected to be built as a high-end apartment. Community facilities include a premium residents-only movie theater called ‘CGV Salon’ and a sky lounge named ‘Club Cloud.’ Additionally, a small library within the complex will be stocked with curated books through a partnership with Kyobo Book Centre. Furthermore, the fitness center will be equipped with premium exercise equipment from TechnoGym, and three types of guest houses will also be included.

All 903 units will be provided with premium German kitchen furniture as standard. The luxury kitchen brands ‘Sie Matic,’ known worldwide for its reputation, ‘LEICHT,’ a premium kitchen furniture brand established in 1928, and ‘nobilia,’ the number one kitchen furniture brand in the European market, will be applied according to unit type. German global home appliance brand ‘Miele’ appliances and the Italian luxury hood ‘Falmec,’ which gained attention from the movie ‘Parasite,’ will also be installed.

Meanwhile, Sangmu Central Xi is currently conducting first-come, first-served unit selection contracts, and some unit types offer interest-free installment benefits. The housing exhibition hall is located in Mareuk-dong, Seo-gu, Gwangju, and move-in is scheduled for April 2025.