Amid the recent nationwide surge in sale prices, the average apartment sale price in Busan has also surpassed 20 million KRW per 3.3㎡. As a result, this year’s Busan sale market is expected to focus on complexes offering reasonable sale prices.
According to the ‘December 2023 Private Apartment Sale Price Trends’ recently announced by the Housing and Urban Guarantee Corporation (HUG), the average sale price per square meter in Busan in December was 6.27 million KRW. Converted to a price per 3.3㎡, this amounts to 20.691 million KRW, marking a 6.3% increase compared to the same period last year (5.896 million KRW/㎡, 19.4568 million KRW). Experts generally analyze that sale prices will continue to rise this year as well.
In fact, recently supplied complexes have been drawing attention daily due to their high sale prices. The A complex, sold in Suan-dong, Dongnae-gu in December last year, had an average sale price of about 24.96 million KRW per 3.3㎡ (source: Real Estate R114), with the popular 84㎡ unit exceeding 900 million KRW at the highest price.
The B complex, sold in November in Uam-dong, Nam-gu, had the 84㎡ unit priced in the high 700 million KRW range at the highest price, and the terrace type even exceeded 850 million KRW. Compared to a complex supplied nearby just eight months earlier, where the highest price for the 84㎡ unit was in the high 500 million KRW range, this represents a rapid increase of about 200 million KRW in a short period.
Most actual buyers view the rapidly rising sale prices as burdensome. However, industry experts analyze that due to increases in construction and financial costs, sale prices will continue to rise steeply this year as well.
Meanwhile, in Geumjeong-gu, Busan, ‘The Sharp Geumjeong Wever City’ is about to be supplied. This complex is a large-scale development being sold in Geumjeong-gu for the first time in a while and is the first ‘The Sharp’ brand complex by POSCO E&C in Geumjeong-gu, attracting much attention even before its sale.
In particular, it is located in Bugok-dong, Geumjeong-gu, a traditional prime residential area of Busan, enjoying prestigious school districts, Line 1 subway, and Jungang-daero infrastructure, making it an excellent complex both for actual residence and investment.
The Sharp Geumjeong Wever City is located about 450 meters in a straight line from Jangjeon Station on Line 1, making it easily accessible within a 10-minute walk. From Jangjeon Station, it takes about 18 minutes (10 stops) to Seomyeon Station and about 11 minutes (5 stops) to Nopo Station, where the Busan Central Bus Terminal is located.
Additionally, whether by car or public transportation, residents can enter the Gyeongbu Expressway via the nearby Guseo IC, and quickly travel anywhere inside or outside Busan through Jungang-daero, Yunsan Tunnel, and Sanseong Tunnel, which run through Busan.
The educational environment, which attracts the attention of parents, is also excellent. Bugok Elementary School is within walking distance, ensuring a safe commuting environment for young children, and prestigious school districts such as Geumyang Middle School, Dongnae Girls’ Middle School, Dongnae Girls’ High School, Busan National University High School, and Busan Arts High School are located nearby.
The Sharp Geumjeong Wever City is also well situated for enjoying cultural activities such as shopping. It is close to Geumjeong-gu Office, Geumsaem Library, Hanaro Mart, E-Mart, and NC Department Store, and only about 1 km from the bustling area in front of Busan National University. Furthermore, residents can enjoy rest, leisure, and exercise through the Yunsan Ecological Forest and hiking trails located right outside the complex.
The Sharp Geumjeong Wever City will be developed in Bugok-dong, Geumjeong-gu, Busan Metropolitan City, with a total of 994 households ranging from 59 to 84㎡ across three basement floors to 29 above-ground floors. Of these, 686 units are for association members, and 308 units are planned for general sale.
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