- Highly Practical Specialized Floor Plans, Advanced Systems, Excellent Landscaping and Community Facilities
- New Apartments Up 0.32% Over One Year, Older Buildings See Price Decline
Despite their high prices, new apartments are gaining popularity again due to their high-quality product composition that enhances quality of life and satisfaction through the latest floor plans, systems, community facilities, and landscaping. Additionally, housing prices have recently shown a more pronounced increase centered on new apartments.
According to data from Real Estate 114, as of the end of March, the average sale price per household for new apartments nationwide that have been occupied for less than five years was 904.68 million KRW. Considering that the average sale prices per household for apartments occupied for 6 to 10 years and over 10 years were 795.86 million KRW and 633.26 million KRW respectively, new apartments are about 100 to 300 million KRW more expensive.
The price increase rate is also higher. According to Real Estate 114 data, over the past year, the price of new apartments nationwide under five years old rose by 0.31%, whereas apartments aged 6 to 10 years and over 10 years recorded declines of -0.53% and -1.55% respectively, showing a contrasting trend. In other words, the older the apartment, the greater the price drop. Notably, new apartments have been steadily rising since June last year amid unstable market conditions.
The reason why buyers prefer new apartments despite the high price burden can be attributed to the difference in "quality of life." Older apartments often have outdated floor plans that are no longer in fashion, and as they age, repair needs increase, leading to higher maintenance costs. Even if interior repairs are made, systemic issues or external problems such as parking, community facilities, and landscaping cannot be resolved. Above all, older complexes often lack sufficient parking spaces, forcing residents to endure double or triple parking, which causes significant parking stress during late returns home.
However, new apartments offer wide service areas and specialized floor plans equipped with various storage spaces such as pantries, entrance closets, dressing rooms, and alpha rooms. They also feature smart home systems that allow residents to broadly control and monitor lighting, gas, heating, security, and elevator calls with just a smartphone. In addition, they provide diverse community facilities including fitness centers, reading rooms, kids cafes, and golf practice ranges comparable to those of professional facilities, along with ample parking spaces.
Meanwhile, GS Construction plans to launch sales of ‘Icheon Xi The Rev’ in the Songjeong-dong area of Icheon-si, Gyeonggi-do, in April. This complex consists of seven buildings ranging from four basement floors to a maximum of 25 floors above ground, with a total of 635 households and exclusive areas ranging from 84 to 185 square meters.
The community facility, Club Xi-an, includes a golf practice range equipped with GDR, fitness center, GX room, sauna with baths, and cafeteria, enhancing convenience for residents. Additionally, two guest houses are available for use as accommodations for visitors or party venues, and childcare and educational facilities such as a daycare center, a small library (Kyobo Bookstore curation), and reading rooms are also provided.
The complex is designed as a car-free zone on the ground through 100% underground parking, offering ample parking space of about 1.6 cars per household. Over 55% of the parking spaces are expanded type (2.6 x 5.2 meters), allowing for convenient parking. Furthermore, the entire complex features a pilotis design without first floors to protect the privacy of lower-floor households, and individual storage rooms are provided for each household to easily store seasonal items or bulky daily necessities.
Icheon Xi The Rev also applies innovative floor plans. All units feature slab-type cross-ventilation designs preferred by actual users, and some units have corner slab-type designs with three-sided openings, offering excellent natural lighting and spacious usable areas.
Currently, a sales promotion center is operating in the Jeungpo-dong area of Icheon-si, Gyeonggi-do (near E-Mart Icheon branch), and the model house is scheduled to open in April in the Jeungil-dong area of Icheon-si, Gyeonggi-do.
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