The residential center of East Busan is shifting. Development that had been focused on Haeundae-gu and Suyeong-gu is recently moving toward the Ilgwang New Town area.
In the Ilgwang New Town area, various development projects are underway to improve the living conditions of local residents and attract population, including large-scale apartment construction, the development of the Osiria Tourism Complex, and the establishment of a wide-area transportation network.
First, in the Ilgwang Samdeok District, the ‘Ilgwang Norway Forest Ocean Foret,’ the largest apartment complex in Ilgwang New Town with a total of 1,294 households and a resort-style high-end apartment, is about to be launched for sale. In the Korean Glass Site, Dongil Suite plans to build marine cultural tourism facilities, residential lodging facilities, and apartments.
The Osiria Tourism Complex is being developed as a four-season luxury integrated marine leisure city including accommodation, leisure, shopping, and theme park facilities. Currently, Lotte World Adventure Busan, which covers an area equivalent to 22 soccer fields, is located in the Osiria Tourism Complex, along with various shopping and cultural facilities such as the National Busan Science Museum, Lotte Premium Outlet, and IKEA. Additionally, a senior complex called Meditown, an underwater hotel and condo, a mega aquarium, and Aqua World with a water park are also planned, which will further increase the infrastructure available in the Ilgwang New Town area.
One reason Ilgwang New Town is gaining attention as a new residential center is its reasonable prices. According to the Ministry of Land, Infrastructure and Transport’s actual transaction price data, as of February 29 this year, the highest transaction price for an 84㎡ exclusive area in Ilgwang New Town was 640 million KRW. In contrast, the highest transaction price for the same area in Haeundae-gu was 990 million KRW, showing a difference of over 300 million KRW.
As a result, demand is concentrating in the Ilgwang New Town area. Along with significant development benefits, the convenience of enjoying the Haeundae living area and the possibility of affordable housing have led to a large influx of population from Haeundae-gu, Suyeong-gu, and even the Ulsan region. In fact, looking at the top five regions for net migration in Gijang-gun, where Ilgwang New Town is located, last year, the order of in-migration was Busan Haeundae-gu (626 people), Ulsan Ulju-gun (193 people), Busan Geumjeong-gu (136 people), Busan Suyeong-gu (83 people), and Ulsan Nam-gu (66 people).
Meanwhile, development in the Ilgwang Samdeok District, located at the forefront of Ilgwang New Town and highly anticipated by local residents, is progressing rapidly.
Yurim E&C plans to launch sales of ‘Ilgwang Norway Forest Ocean Foret’ in the Ilgwang Samdeok District at the end of March. The complex will be built in Ilgwang-eup, Gijang-gun, Busan, consisting of 11 buildings ranging from three basement floors to 29 above-ground floors, with a total of 1,294 households and exclusive areas ranging from 84 to 112㎡.
Notably, ‘Ilgwang Norway Forest Ocean Foret’ is the first resort-style high-end apartment in Ilgwang New Town, featuring approximately 10,000 pyeong of landscaping area and about 1,300 pyeong of community facilities within the complex, aiming to provide residents with a vacation-like daily life.
The apartment landscaping is designed and constructed by Samsung C&T’s landscaping team. Various specialized spaces will be arranged, including the Caribbean Bay Water Ground and Safari World Play Ground themed after Everland, as well as a sports game club and mini golf club.
The community facility unique to Yurim Norway Forest, called ‘Nordic House,’ also draws attention. Nordic House will include a large atrium with a four-season green greenhouse concept, a caf? lounge and tea house with Nordic sensibility, a multi-club, Forest Kids Caf? (a large kids caf?), a guest house, a fitness club, a golf lounge, and a book caf?.
‘Ilgwang Norway Forest Ocean Foret’ also boasts excellent location conditions. It is a station-area complex near Ilgwang Station on the Donghae Line, providing convenient commuting conditions with easy access to Osiria Station, Centum Station, and Haeundae Station.
The complex is close to the Ilgwang New Town central commercial district, and convenient for using lifestyle facilities such as Gijang County Office, Gijang Police Station, Mega Mart, Bayside GC, and Asiad CC. The Osiria Tourism Complex, which includes IKEA, Lotte Outlet, and Lotte World Adventure, is also within a 10-minute drive.
Moreover, Ilgwang Beach is adjacent, offering sea views, and the surrounding area is rich in greenery with Ilgwang Mountain, Ilgwang Icheon Ecological Park, and Samsung Forest Park, providing a pleasant residential environment. Additionally, Ilgwang Elementary and Ilgwang Middle Schools are within walking distance, and Jang-an High School (scheduled for 2027) is planned to relocate within Ilgwang New Town, establishing a 12-year one-stop school district covering elementary, middle, and high school.
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