Recently, the apartment within Jungbu Park, promoted as Jeju's first private park special project, has completed price negotiations, and the negotiated price is reported to be set at a reasonable level, sparking interest among Jeju residents and regional investors.
According to industry sources, the apartment "Jeju Jungbu Park Jeil Punggyeongchae Central Park," built through the Jungbu Park private park special project, reached a dramatic agreement with Jeju City to set the price below last year's average private apartment sale price in Jeju, which was 25.74 million KRW per 3.3㎡.
In particular, since Jeju has one of the highest sale prices nationwide, demand is expected to accelerate following this news. According to the Housing and Urban Guarantee Corporation, as of December last year, Jeju's average sale price was the second highest in the country after Seoul (34.94 million KRW), and it was 48% more expensive compared to the national average (17.36 million KRW).
Among industry experts, it is widely expected that the nationwide upward trend in sale prices will continue this year, making the price lower than last year's average a significant merit.
A representative from real estate agency A located in Jeju City stated, "Among residents, this complex is evaluated to have superiority in location, product, scale, and rarity compared to previously supplied complexes," adding, "Therefore, although a high sale price was anticipated, inquiries have been coming in promptly as a reasonable price level was announced."
The Jeju Jungbu Park Jeil Punggyeongchae Central Park will be constructed in Geonip-dong, Jeju City, consisting of 12 buildings from 4 basement floors to 15 above-ground floors, with a total of 728 households ranging from 66 to 124㎡ in exclusive area. Since this complex is built through a private park special project, the residential environment is expected to be pleasant. The accompanying Jungbu Park is a large-scale park of approximately 170,000㎡, about 24 times the size of a soccer field, allowing residents to use the vast park as if it were their own front yard.
Notably, Jeil Construction Co., Ltd. was honored with the grand prize in the "Complex Landscaping" category at the 2023 second half Hankyung Residential Culture Awards, recognizing their excellence in landscaping. Therefore, this complex, built alongside a large park, is expected to showcase various excellent landscaping facilities.
The fact that it is a large complex exceeding 700 households, which is rare in Jeju, also draws attention. Due to development regulations characteristic of Jeju City, complexes exceeding 700 households account for only 1.3% of the total supply. Specifically, narrowing down to Old Jeju, this is the first apartment complex with over 500 households supplied in about 14 years, attracting significant interest from local residents due to its rarity.
Moreover, Jeju Jungbu Park Jeil Punggyeongchae Central Park plans to enhance product completeness befitting the reputation as Jeju's first Jeil Punggyeongchae brand complex. Regarding parking spaces, which are particularly scarce in Jeju, a total of 1,331 spaces have been secured, making it the first and largest scale in the Jeju area. Except for parking for neighborhood living facilities, all parking spaces will be underground, creating a car-free park-style apartment on the surface.
In line with the large complex scale, various large community facilities such as fitness centers, saunas, and golf practice ranges will be provided, and residents can also conveniently use various cultural spaces within Jungbu Park.
Additionally, the complex boasts excellent urban accessibility with major roads such as Donggwang-ro, Yeonsam-ro, and Beonyeong-ro nearby, and convenient access to Jeju International Airport and Jeju Port International Passenger Terminal. The proximity to facilities such as Hanaro Mart Jeju Branch (ranked first in nationwide store sales as of 2018), Udang Library, National Jeju Museum, and various educational, commercial, and administrative facilities in the Old Jeju area promises high residential convenience.
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