While the real estate market has temporarily contracted due to various issues, coastal cities embracing the sea are showing resilience. The regional rarity of locations with sea views combined with the growth potential of the marine leisure industry continues to sustain steady popularity.
In particular, coastal cities attract affluent residents due to their unique proximity to the sea and beaches. As wealthy individuals move in, luxury residential complexes are being supplied one after another, followed by expansions in transportation, cultural, and leisure infrastructure, transforming these areas into affluent neighborhoods.
The most representative example is the coastal city of Busan. Along the coastline stretching from Haeundae through Gwangalli, Suyeong River, Osiria, to Ilgwang New Town, high-end residential complexes are being established, forming a new residential belt.
High residential preference is reflected in strong prices. According to the Ministry of Land, Infrastructure and Transport’s real transaction price disclosure system, a 180㎡ unit in W Apartment located in Yongho-dong, Nam-gu, Busan, was sold for 3.65 billion KRW in January, setting the highest price this year.
The popularity of coastal city apartments is also evident in the sales market. In October last year, ‘Gangneung Jaileune D'Ocean’ in Gangneung City, a coastal apartment with sea views, attracted attention by recording a competition rate of up to 71.5 to 1, closing first priority applications for all unit types.
A real estate expert said, “Coastal cities embracing the sea maintain price stability even during market downturns due to their locational uniqueness and rarity. Especially with recent lifestyle changes increasing residential preference for coastal cities, the popularity of new apartments supplied in these areas is expected to rise further.”
Meanwhile, new sales are scheduled in the Ilgwang-eup area of Gijang-gun, Busan, which includes Ilgwang New Town.
Yurim E&C plans to launch ‘Ilgwang Norway Forest Ocean Foret,’ a landmark large complex consisting of 11 buildings with 1,294 units ranging from 84 to 112㎡ in exclusive area, from three basement floors to a maximum of 29 floors, in the Icheon-ri area of Ilgwang-eup, Gijang-gun, Busan, at the end of March.
Adjacent to Ilgwang Beach, the complex offers 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 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 from elementary to high school.
‘Ilgwang Norway Forest Ocean Foret’ boasts excellent transportation connectivity. It is located in the station area of Ilgwang Station on the Donghae Line, offering convenient transit. Using this line, commuting to Osiria Station, Centum Station, and Haeundae Station is easy, providing excellent commuting conditions.
Nearby, the extension of Busan Metro Line 4, the Gijang Line, is also underway, promising a future double station area advantage. For car users, access to the Donghae Expressway and Busan Outer Ring Expressway via Gijang IC is convenient, facilitating wide-area travel across Busan, Gyeongnam, and Ulsan.
The living infrastructure is also excellent. The complex is within walking distance of Ilgwang Station on the Donghae Line, and with the Busan Metro Line 4 extension in progress, residents can expect a double station area premium in the future. It is also close to the central commercial district of Ilgwang New Town, and convenient access to Gijang County Office, Gijang Police Station, Mega Mart, Bayside GC, and Asiad CC. Notably, the Osiria Tourism Complex, which clusters cultural, leisure, and tourism infrastructure such as IKEA, Lotte Outlet, and Lotte World Adventure, is reachable within about 10 minutes by car.
Another distinctive feature is that this is the first resort-style high-end apartment introduced in Ilgwang New Town.
Yurim E&C plans to design ‘Ilgwang Norway Forest Ocean Foret’ as a large complex with a resort atmosphere harmonizing with the beautiful natural surroundings, creating approximately 10,000 pyeong of landscaping area and about 1,300 pyeong of community facilities to offer residents a vacation-like daily life.
In particular, 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. Additionally, a large pond (artificial lake) reflecting the blue sky and six themed forests filled with exotic trees will be created to evoke a resort-like atmosphere.
The community facility unique to Yurim Norway Forest, the ‘Nordic House,’ is also highly anticipated. The Nordic House is divided into lounge, family, sports, and study zones. The lounge zone includes a large atrium with a four-season green greenhouse concept, a Nordic-style caf? lounge & tea house, and a multi-club. The family zone features a Forest Kids Caf? (large kids caf?), guest house, sauna, and coin laundry. The sports zone includes a fitness club, GX room, and golf lounge. The study zone will house a book caf?, open reading room, kids library, and study rooms.
The model house for ‘Ilgwang Norway Forest Ocean Foret’ is currently being constructed near Millak Station in Suyeong-dong, Suyeong-gu, Busan.
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