Capital Region National Average Sale Price Reaches 1 Billion Won Era... Interest in 'Yeongtong Station Xi Praciel'

- Sale prices surged 20% in one year
- Suwon recently exceeded 1 billion won in sale prices

[Yeongtong Station Jai Praciel Perspective]

As apartment sale prices continue to soar without signs of slowing down, the burden on buyers is increasing day by day. Since the sharp rise in sale prices is due to increased construction costs such as raw material prices and labor costs, as well as higher financing costs caused by high interest rates, the upward trend in sale prices is expected to continue this year.

According to the Korea Housing & Urban Guarantee Corporation (HUG)'s 'January 2024 Private Apartment Sale Price Trends,' the average sale price of private apartments in Seoul last month was 37,137,000 KRW per 3.3㎡. Compared to the previous month (35,008,000 KRW), it rose by 6.08%, and compared to the same period last year (30,684,000 KRW), it increased by 21.03%. In the metropolitan area, prices rose 16.3% from 21,496,200 KRW in January last year to 25,014,000 KRW this January.

An official from a construction company said, "With the rise in raw material prices such as cement and ready-mixed concrete, as well as labor costs, an increase in sale prices is inevitable," adding, "Furthermore, with the expansion of mandatory zero-energy building certification and stricter regulations on noise between floors, additional increases in sale prices are anticipated."

Given this situation, apartments with a standard exclusive area of 84㎡, known as 'Gukpyeong' (national standard size), surpassed 1 billion KRW in sale price last year in Yongin and Gwangmyeong, Gyeonggi Province, and recently, complexes exceeding 1 billion KRW for Gukpyeong units have appeared in Suwon as well. The era of 1 billion KRW sale prices for Gukpyeong units in the metropolitan area is becoming firmly established.

However, despite rising prices, customer interest remains high in prime locations. For example, the 'Gwangmyeong Central I-Park' launched last year had a Gukpyeong sale price exceeding 1.2 billion KRW but was sold out. Similarly, an apartment recently launched in Yeongtong-dong, Suwon, boasts excellent infrastructure and school districts, with many aged complexes over 20 years old, attracting buyers looking to upgrade.

Real estate info research team leader Kwon Il said, "Customers now recognize the market trend that sale prices will inevitably continue to rise, and as a result, many are carefully evaluating whether the property offers excellent quality and location that justify the price."

Meanwhile, the GS Construction-built 'Yeongtong Station Xi Praciel,' which has started contracts on a first-come, first-served basis, continues to attract strong customer interest. Its sale price is considered competitive compared to recently launched apartments. Starting from the 700 million KRW range (based on 84㎡), Yeongtong Station Xi Praciel offers not only competitive pricing but also excellent infrastructure within the Yeongtong and Mangpo living zones, and features luxurious designs not seen before, drawing attention from both end-users and investors.

The apartment's excellent location is already proven. Situated in the Yeongtong and Mangpo living zones, it offers comprehensive advantages in transportation, future value, convenience facilities, education, and proximity to workplaces.

First, it is within walking distance to Yeongtong Station on the Suin-Bundang Line, and the GTX-A line, scheduled to open this year, will be conveniently accessible. Additionally, a widely preferred express bus stop is located right in front of the complex. The express bus network is highly favored by local residents, allowing access to Gangnam within an hour and convenient entry into Seoul.

Various convenience facilities are also nearby. The Suwon Yeongtong central commercial district is within walking distance, and Homeplus, Lotte Mart, E-Mart Traders, and Suwon Premium Outlets are close by. Moreover, Seocheon Elementary School is accessible on foot, with Seocheon Middle and High Schools nearby, and the area is adjacent to a cluster of academies, providing excellent educational conditions.

The location also features proximity to workplaces. It is close to Samsung Electronics' headquarters, Suwon Samsung Digital City, and the Samsung Electronics Nanosity Giheung Campus, making commuting convenient. Samsung Digital City is a large-scale industrial complex where Samsung Electronics affiliates and partner companies form an industrial belt.

Additionally, various specialized designs stand out. All units are designed with a south-facing, 4-bay slab-type layout, and three-sided balconies (except for some types) are applied. The three-sided balcony structure allows for a larger indoor area when balconies are extended, attracting buyers' interest. The community center within the complex will include a sky lounge and 'Club Xi-an,' which will feature various community facilities such as a fitness club, golf practice range, and Pilates room.

A sales official said, "Although residential preference is high, new housing supply is scarce, so there is a large waiting demand in the Yeongtong and Mangpo living zones. Also, since the sale price is cheaper compared to nearby new complexes, inquiries are pouring in."

Meanwhile, the move-in for Yeongtong Station Xi Praciel is scheduled for the second half of 2026. The model house is located in Dongcheon-dong, Suji-gu, Yongin City, and a prize event will be held on the 24th (Saturday) and 25th (Sunday), where visitors will be entered into a draw to receive gift certificates.