Newly Built Apartments Nearing Move-In at 2-Year-Old Prices, 'Yongduam Hoban Summit Jeju' in Spotlight

- Jeju Island Average Sale Price per Pyeong Rises by 2.79 Million Won Year-on-Year
- Jeju Island Emerges as a Practical Alternative for Affordable Home Ownership

Amid the era of high inflation and rising sale prices, newly built apartments nearing occupancy are gaining attention. As the sale prices of apartments launched this year continue to rise, they are emerging as a realistic alternative for homeownership.

According to the Housing & Urban Guarantee Corporation (HUG), as of December last year, the average sale price per 3.3㎡ of private apartments nationwide was 17.36 million KRW, an increase of 1.9 million KRW compared to the previous year. The rise in construction costs and raw material prices is analyzed as the main cause.

Regions where the increase in sale prices exceeded the national average include five areas such as Seoul and Jeju. In Jeju, the average sale price per 3.3㎡ in December last year was 25.74 million KRW, about 2.79 million KRW higher than the previous year. This made Jeju the region with the second highest price per pyeong nationwide, following Seoul.

Meanwhile, a newly built apartment in Jeju, scheduled for occupancy in March, is attracting attention.

‘Yongduam Hoban Summit Jeju’ is an apartment harmonized with the surrounding natural environment. The complex is located near Yongduam Beach, allowing residents to enjoy an ocean view from their homes (except some units). It is also adjacent to Yongyeon Valley and Yongdam Park. The Jeju Olle Trail (Course 17) provides access to a coastal walking path, and a walking trail connected to Yongdam Park has also been established.

Its excellent design stands out as well. ‘Yongduam Hoban Summit Jeju’ collaborated with Samsung C&T Resort Division’s landscaping team to present differentiated design and specialized landscaping. The complex features a ‘Kids Active Garden’ where children can play energetically, a central forest play area called ‘Water Play Garden’ for families to enjoy time together, and water features.

‘Yongduam Hoban Summit Jeju’ maximizes natural light and ventilation by arranging all units mainly facing south and applying a 4Bay (partial) layout. Considering the diverse lifestyles of residents, it also offers various storage spaces such as large pantries and dressing rooms (varies by type). The community facilities include a fitness center, GX room, indoor golf practice range, and separate male/female shower rooms. The fitness center also has a healthcare room to support residents’ health management.

The fact that it offers access to Jeju’s central living area is also noteworthy. ‘Yongduam Hoban Summit Jeju’ is close to new urban areas such as Nohyeong-dong and Yeon-dong, where many people reside in Jeju. Therefore, it is evaluated as suitable for enjoying Jeju’s new central living zone. Additionally, various commercial facilities such as E-Mart, Megabox, and Seomun Public Market are nearby, along with public institutions including Jeju City Hall, Jeju Provincial Office, and Jeju Korean Hospital.

The education and transportation environments are excellent as well. ‘Yongduam Hoban Summit Jeju’ is a school district apartment located within walking distance of all school zones including Jeju Seo Elementary and Jeju National University-affiliated middle and high schools. The safe commuting environment is expected to attract strong interest from the 30s and 40s age groups. Along with this, Jeju International Airport, the intercity bus terminal, and the passenger ferry terminal are nearby. Vehicle movement is also convenient via various road networks such as Jungang-ro, Beonyeong-ro, and Seohaean-ro.

Meanwhile, ‘Yongduam Hoban Summit Jeju’ is located in Yongdam 2-dong, Jeju City, Jeju Special Self-Governing Province, consisting of five buildings from two basement floors to ten above-ground floors, with a total of 213 households of 84㎡ and 113㎡ exclusive areas. The project was entrusted to Korea Asset Trust and constructed by Hoban Construction. The model house is located in Yeon-dong, Jeju City, Jeju Special Self-Governing Province.