1 Billion Won Cheaper Compared to Nearby New Apartments... Cheonan 'The Sharp Sinbu Centra' Popularity

- Sale prices soaring to the sky, now is the right time to buy a home
- More than 100 million KRW cheaper than complexes sold at the same time like The Sharp Sinbu Centra

Recently, as construction costs including labor expenses have soared, driving sale prices to unprecedented heights, complexes offering relatively reasonable prices have gained popularity. Especially amid the real estate market downturn, where transactions are mainly focused on quick sales, buyers are increasingly interested in a ‘smart single property’ that is cheaper than market prices yet offers potential future capital gains.

According to the Housing & Urban Guarantee Corporation (HUG)’s survey on private apartment sale prices, as of March, the nationwide apartment sale price per square meter was 5,633,000 KRW, up 4.96% from the previous month (5,366,000 KRW) and 17.24% from the same month last year (4,805,000 KRW).

Basic construction costs have also risen significantly, further worsening the construction industry. According to the Ministry of Land, Infrastructure and Transport, the basic construction cost in March this year was 2,038,000 KRW per m², a 3.1% increase from the previous announcement in September last year (1,976,000 KRW). This is the first time the basic construction cost has exceeded 2 million KRW per m². The rise was largely influenced by increased prices of materials such as ready-mixed concrete and labor costs. Over the past six months, ready-mixed concrete prices rose by 7.2%, and window glass by 17.7%. Labor wages typically increased by 3.1% for general workers, 5.6% for special workers, and 4.1% for concrete workers.

In this context, a complex in Shindujeong District, Cheonan, Chungnam, offering affordable home ownership is attracting attention with a first-come, first-served supply. The protagonist is ‘The Sharp Sinbu Centra,’ built by POSCO E&C in Sinbu-dong, Dongnam-gu, Cheonan-si, Chungcheongnam-do. The complex consists of 9 buildings ranging from 2 basement floors to a maximum of 23 floors above ground, with a total of 592 units ranging from 59 to 150 m² in exclusive area. This complex is priced over 10 million KRW cheaper than the one supplied right next door earlier this year, with the 84 m² type available from the 30 million KRW range, drawing strong interest from both actual buyers and investors.

Currently, first-come, first-served contracts with designated building and unit numbers are underway for unsold units. This contract method does not require a subscription savings account, and anyone aged 19 or older can select their preferred building and unit regardless of residence area or home ownership status. The 59 m² and 150 m² types have been fully sold, while the 84 to 101 m² types offer a fixed first installment of 10 million KRW, reducing the financial burden on buyers. Additionally, immediate resale is possible upon contract, providing excellent liquidity.

‘The Sharp Sinbu Centra’ also boasts excellent living conditions. It is close to Cheonan IC, Cheonan General Bus Terminal, Cheonan Express Bus Terminal, and Dujeong Station on Seoul Metropolitan Subway Line 1, making nationwide travel easier compared to other Cheonan and Asan areas. Large shopping facilities such as Shinsegae Department Store, E-Mart, and Lotte Mart, as well as medical facilities including Dankook University Hospital and Daejeon University Cheonan Oriental Medicine Hospital, are conveniently accessible. The site is directly in front of Bukil High School and Bukil Girls’ High School, prestigious nationwide autonomous private high schools, ensuring excellent educational conditions.

There are also abundant development benefits. The opening of Bukil-ro in Shindujeong District, which had been disconnected, is imminent. The section (Urban Planning Road Jungro 1-142) that had been disconnected is scheduled to be completed and connected by October this year, significantly improving the road traffic network in Shindujeong District. Moreover, Cheonan Station, where the GTX-C line extension to Cheonan is planned, is within a 10-minute drive, which is expected to greatly enhance accessibility to Seoul and bring substantial benefits from regional development.

Benefits from the Future Mobility and Semiconductor National Industrial Complexes are also anticipated. The Future Mobility National Industrial Complex is planned as a high-tech industrial complex centered on national strategic industries such as semiconductors and smart mobility, with anchor companies including Samsung Electronics and SK Hynix emerging. The development of the Future Mobility National Industrial Complex is expected to generate economic ripple effects including direct investment of 7.7 trillion KRW, production inducement effects of 14.2 trillion KRW, and employment inducement effects of 58,000 jobs.

The Dankook University Cheonan Campus, developed as a national leading industry-academia-research innovation cluster, is also nearby. ‘The Sharp Sinbu Centra’ is within a 10-minute walk and a 2-minute drive from the main gate of Dankook University Cheonan Campus, making it a notable residential complex in the area. Dankook University plans to complete the industry-academia-research innovation hub facility by 2027, attracting 124 innovative companies and research institutes, and creating annual sales of 200 billion KRW and cumulative employment of over 1,000 people.

A model house is currently open, and the expected move-in date is June 2025.