The 'high-end brand' trend, regarded as a luxury in the housing sector, is blowing strongly.
The value of 'luxury' originating from the consumer goods market is spreading to the real estate market. High-end brand apartments, typically limited to restricted locations such as the three Gangnam districts in Seoul or along the Han River, possess both rarity and symbolism due to their limited supply. Accordingly, they are highly preferred among high-income consumers seeking differentiated lifestyles.
The reason why it has become difficult to even present a business card in recent reconstruction project bids in Gangnam or along the Han River without a high-end brand can also be understood in this context. This is evidence that the value of high-end brands is directly linked to asset value.
Meanwhile, for the first time in Busan, Daewoo E&C’s top-tier residential brand ‘Prugio Summit’ is being applied to ‘The Beach Prugio Summit,’ which is scheduled for occupancy this December.
The ‘Prugio Summit’ brand has been applied mainly in Seoul’s Gangnam area, including ‘Seocho Prugio Summit’ and ‘Yongsan Prugio Summit’ which moved in in 2017, as well as ‘Daechi Prugio Summit.’ It has established itself as a representative high-end brand by applying ‘Summit’ to Hannam 2 District, a redevelopment zone in the traditional affluent neighborhood of Hannam New Town.
‘The Beach Prugio Summit’ will be developed in Nam-gu, Busan Metropolitan City, consisting of 8 apartment buildings ranging from 3 basement floors to a maximum of 43 floors above ground, with exclusive areas of 59 to 114㎡, totaling 1,384 households. The complex will be developed as a differentiated luxury complex with landscaping features such as a modern resort (rock garden, tea house, water space), exterior wall specializations like curtain walls and fa?ades, and community facilities.
In particular, the signature sky lounge of ‘Prugio Summit’ will be located on the top floor of Building 101, offering panoramic views of Gwangandaegyo Bridge and the sea. Additionally, various community facilities such as a sauna, library caf?, kids caf?, guest house, fitness club, Pilates, GX room, golf club, study room, senior club, and daycare center will be included.
All units will be provided with balcony extensions, system air conditioning, triple-sliding automatic doors, and security/safety insect screens free of charge. Inside, premium finishes common to all units include a large art wall in the living room, premium hardwood flooring, engineered stone (kitchen walls/countertops), Italian tiles, German hardware, IoT home network systems, mechanical ventilation systems, and full-floor sprinkler systems. The living room ceiling will feature a coffered ceiling 12cm higher than the standard ceiling height (2.3m), with indirect lighting installed on all four sides of the ceiling to maximize openness and a luxurious atmosphere.
‘The Beach Prugio Summit’ is located at the center of a large emerging residential belt on the southern end of Gwangandaegyo Bridge, including Gwangalli Samik Beach Town, Namcheon Xi, W Apartments, and LG Metro City, offering abundant living convenience facilities and raising expectations for the formation of a new affluent neighborhood.
Moreover, it boasts a double station area location, allowing access to both Namcheon Station and Kyungsung University·Pukyong National University Station on Busan Subway Line 2. It also offers convenient access to major downtown areas of Busan via Hwangnyeong-daero, Gwangalli Beach Road, and Gwangandaegyo Bridge.
‘The Beach Prugio Summit’ attracted high interest from buyers, recording a maximum competition rate of 9:1 and an average of 7:1 in the non-priority subscription held on the 20th.
As a post-sale complex starting occupancy this December, it allows for quick exercise of property rights and alleviates concerns about occupancy delays. For general buyers, occupancy is scheduled to proceed until the end of April 2024, and resale is permitted from March 26, 2024.
The model house for ‘The Beach Prugio Summit’ is located in Haeundae-gu, Busan Metropolitan City.
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