- Unsold Inventory Reduced by More Than Half Compared to Early Last Year, Increasing Number of Nearly Sold-Out Complexes
- Growing Interest in 'Cheonan Station Gyeongnam Honorsville Urban Heights' Scheduled for February Sale
The real estate market in Cheonan is reviving. Unsold units are decreasing, and transaction volumes are increasing. Accordingly, it is expected that demand for new apartments launched in the new year will be high.
According to the Ministry of Land, Infrastructure and Transport, the number of unsold units in Cheonan was 3,916 in January 2023 but gradually decreased to 1,400 units in November, a reduction of more than half. Sales transaction volumes are also recovering. According to the Korea Real Estate Board, only 580 units were traded in January last year, but the volume increased by about 36.5% to 789 units in September and 794 units in October.
Additionally, according to Real Estate R114, monthly housing prices, which had been continuously falling, stabilized in September and showed an increase of 0.06% in October and 0.03% in November.
As a result, a favorable wind is blowing in the Cheonan pre-sale market as well. At the end of 2022, when the market had sharply cooled, complexes such as Cheonan Lotte Castle The Dujeong and Hillstate Cheonan Station Skyum, which went on sale, have contract rates soaring to over 90% due to consecutive positive factors such as improvements in the Sinbu-dong living area, redevelopment around Cheonan Station, and the promotion of GTX-C line extension to Cheonan Station, bringing them close to full sales. Within the region, complexes with good locations and future value are leading the decrease in unsold units.
Experts agree that since the supply volume in Cheonan is not large and there is a strong thirst for new apartments, and with prices expected to rise again this year, buyers looking to purchase their own homes are moving quickly.
In fact, due to rising labor and raw material costs, pre-sale prices are expected to continue increasing. Furthermore, factors such as stricter standards for noise between floors and mandatory zero-energy requirements are expected to further increase construction costs.
Meanwhile, at the beginning of this year, apartment pre-sales that new residential facility buyers have been waiting for are scheduled in Cheonan. SM Group is developing 'Cheonan Station Gyeongnam Honorsville Urban Heights' in a location with excellent living infrastructure, including transportation, convenience facilities, and neighborhood amenities, providing outstanding residential conditions. This complex will be located in Seongjeong-dong, Cheonan-si, Chungnam, consisting of 293 units across underground 1 floor to 22 floors, with △ 84㎡ 250 units and △ 128㎡ 43 units.
Cheonan Station Gyeongnam Honorsville Urban Heights boasts excellent product features. It is designed to provide unobstructed views without interference between buildings, and the layout connects the surrounding nature with the complex, creating a high-end residential facility that embraces both landscaping within the complex and the surrounding natural environment. It also offers a high-quality community along with breakfast (delivery) and concierge services, allowing residents to enjoy a luxurious daily life.
In addition, this complex will feature a curtain wall look, typically offered only in premium specialized complexes, applying a luxurious exterior. It will maximize views and space utilization, introducing a specialized design for medium-to-large apartments with a wide effective living area.
The project site offers excellent metropolitan accessibility through Cheonan Station on Line 1 and KTX·SRT Cheonan-Asan Station, and easy nationwide travel via the Gyeongbu Expressway and Cheonan Bus Terminal, facilitating movement within the metropolitan area and across the country.
Moreover, transportation conditions are expected to improve further with the scheduled opening of the Dangjin-Cheonan Expressway in 2025 and the promotion of the GTX-C line extension to Cheonan Station.
Furthermore, the complex belongs to excellent school districts including Cheonan Seongjeong Elementary, Cheonan Gyegwang Middle, Cheonan Seo Middle, Cheonan Bongseo Middle, Cheonan Ssangyong Middle, Cheonan Buldang Middle, Cheonan Wolbong Middle, Cheonan Bulmu Middle, Bokja Girls' High School, Bukil High School, and Bukil Girls' High School. It is also adjacent to Cheonan Soccer Center, Seongjeong Park, Cheonan Sports Complex, and Cheonan Citizen Sports Park, allowing residents to enjoy an eco-friendly premium environment.
The Cheonan Station Gyeongnam Honorsville Urban Heights model house is currently operating a pre-promotion center at the Cheonan Station Dong-A Icten sales facility ahead of its official opening.
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