Apartments with abundant development prospects are gaining popularity in the real estate market. This is because many buyers consider future value to be as important as stable residence. Additionally, these apartments are expected to see price increases as development prospects materialize and are resilient during downturns, leading to steady popularity in the future, according to consensus in the real estate industry.
According to a survey conducted by the Korea Research Institute for Human Settlements at the end of last year targeting 2,000 adults aged 19 to 66, the investment value of housing was 30.6%, lower than the residential value (69.4%) but still recorded a high figure. In particular, those in their 20s and 30s recorded 34.1% and 33.22%, respectively, exceeding the average, indicating that the younger generation, who have recently emerged as major players in the real estate market, place more emphasis on future value.
In fact, apartments highly rated for future value performed well in the sales market. In May last year, ‘Shinyoung Jiwel Prugio Technopolis Central’ in Heungdeok-gu, Cheongju-si, Chungbuk, was recognized for its future value through major development visions such as the planned Bukcheongju Station and SK Hynix M15X construction, attracting many buyers with a first-priority average competition rate of 73.75 to 1.
‘Iksan Busong I-Park,’ scheduled for sale this month in Iksan-si, Jeonbuk, is also receiving great attention from buyers due to its high evaluation of future value.
There are many development prospects around ‘Iksan Busong I-Park’ that will enhance living convenience.
First, to the east of the complex, the development of Palbong Neighborhood Park, covering approximately 890,000㎡, is planned, which is expected to significantly improve residential conditions. The park will include various landscaping facilities, recreational facilities, playgrounds, sports facilities, and cultural facilities, allowing residents to enjoy various hobbies and leisure activities close to the complex without having to go far.
Additionally, there is anticipation for the positive impact of the planned entry of ‘Costco.’ According to Iksan City Hall, Iksan City and Costco are currently negotiating the site for the store.
The second phase of the National Food Cluster development, promoted by the government, is also expected to be a boon for ‘Iksan Busong I-Park.’ According to the ‘National Advanced Industrial Belt Creation Plan’ by the Ministry of Land, Infrastructure and Transport and the Ministry of Trade, Industry and Energy, a 2.07 million㎡ area in Wanggung-myeon, Iksan-si, Jeonbuk, has been designated as a candidate site for a national industrial complex to establish an advanced industrial ecosystem. The plan is to designate this area as a key industry for food (food tech), create a food tech technology base integrating ICT (Information Technology) and agricultural food processing, and build an ecosystem linked with 12 food company support R&D facilities under the Ministry of Agriculture, Food and Rural Affairs.
The second phase of the National Food Cluster is currently undergoing a feasibility study and is awaiting a preliminary feasibility study by the Korea Development Institute (KDI). Once this plan is fully underway, ‘Iksan Busong I-Park,’ with excellent accessibility to Wanggung-myeon, is expected to be the biggest beneficiary of the development.
‘Iksan Busong I-Park’ is located in one of the most prestigious residential areas within Iksan-si, earning evaluations for having both residential and future value. The complex is situated in the Yeongdeung living zone, which is highly preferred for residence in Iksan-si, allowing residents to enjoy convenient living infrastructure such as large marts and hospitals. Nearby are Homeplus (Iksan branch), Lotte Mart (Iksan branch), CGV Iksan, Iksan General Hospital, and Iksan Arts Center.
Within walking distance are Gungdong Elementary School and Eoyang Middle School, and Busong Library is also close by. Additionally, the Yeongdeung academy district, which houses various types of academies, is easily accessible, making it an optimal educational environment encompassing both schools and academies within Iksan.
‘Iksan Busong I-Park’ offers convenient access to various transportation infrastructures for travel within and outside the region. Using Muwang-ro and Seonhwa-ro, residents can freely access downtown Iksan, and through KTX·SRT Iksan Station, Iksan Intercity Bus Terminal, and Iksan IC, it is easy to travel to nearby areas and the metropolitan area.
‘Iksan Busong I-Park’ will be supplied in the Busong-dong area of Iksan-si, Jeollabuk-do, consisting of 5 buildings ranging from 2 basement floors to 20 floors above ground, with a total of 511 households and exclusive areas ranging from 84 to 123㎡. The number of households by area is △84㎡A 194 households △84㎡B 119 households △104㎡ 158 households △123㎡ 40 households.
According to HDC Hyundai Development Company, ‘Iksan Busong I-Park’ is the first I-Park brand apartment supplied in Iksan City and plans to offer an apartment with enhanced residential convenience by integrating various specialized designs.
The complex is mainly arranged facing south with slab-type units to maximize lighting and ventilation, and various themed landscaping spaces are created throughout the complex so residents can enjoy walks and leisure activities without going far. It is designed with wide distances between buildings and ample parking spaces. Additionally, the high-end community facilities unique to I-Park are expected to further elevate the pride of residents living in the I-Park brand city.
As an incomparable and irreplaceable brand apartment is being supplied in Iksan-si, it is expected to be an excellent choice for buyers considering home ownership and investors hoping to invest.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
