Leading the local market prices with high residential convenience and offering the potential for premiums exceeding 100 million KRW, mall-adjacent complexes are gaining popularity. Among them, the flagship complex in Incheon Songdo 11 District, ‘Songdo Xi Punggyeongchae Grenoble,’ which allows residents to conveniently enjoy Homeplus, Triple Street, Hyundai Premium Outlet, and more from the moment of move-in, is attracting attention.
According to a recent survey conducted by research firm Meta Survey, 26.1% of respondents ranked ‘surrounding infrastructure’ as the most important factor when choosing an apartment to live in. This indicates that many homebuyers prefer locations near large shopping facilities that can be conveniently accessed without traveling far.
This preference naturally translates into housing prices. Located in Namyangju, Gyeonggi Province, ‘Dasan e-Pyeonhansesang Xi’ is a mall-adjacent complex with easy access to Hyundai Premium Outlet (Space One), E-Mart, and Lotte Outlet (Guri branch), making it highly favored in the area. According to KB Real Estate data, the average price per 3.3㎡ in this complex is 25.54 million KRW, about 75% higher than the Namyangju average of 14.61 million KRW.
‘Pyeongchon Raemian Prugio,’ supplied in Dongan-gu, Anyang, is also a regional landmark offering access to various shopping facilities. Although not located in Pyeongchon-dong itself, residents can use large shopping centers such as Pyeongchon E-Mart, Homeplus, and Lotte Department Store, resulting in prices comparable to those in Pyeongchon-dong. According to the Ministry of Land, Infrastructure and Transport’s actual transaction data, an 84㎡ unit in this complex was sold for 1.11 billion KRW on the 18th, forming a price similar to the 1.175 billion KRW transaction of an 84㎡ unit in ‘Pyeongchon The Sharp Central City,’ considered the top apartment in Anyang, on the 1st of the same month.
Industry experts say, “If the infrastructure around a home is insufficient, residents must travel long distances by public transport or car to access large shopping facilities, increasing the preference for mall-adjacent complexes with high convenience. Especially in new residential towns like new cities, early-stage infrastructure development is lacking, causing so-called ‘new city syndrome’ inconveniences. Therefore, whether residents can immediately access large shopping facilities after moving in is very important.”
As a result, interest in ‘Songdo Xi Punggyeongchae Grenoble’ in Incheon, which offers immediate access to various large shopping facilities upon move-in, is surging. The officetel units sold out within a week of contract opening, and apartments are currently being offered on a first-come, first-served basis for some remaining units.
Developed by GS Construction and Jeil Construction Co., Ltd., ‘Songdo Xi Punggyeongchae Grenoble’ in Songdo, Incheon, is a project integrating five complexes, making it the largest in Songdo 11 District. It consists of 23 buildings (21 apartment buildings and 2 officetel buildings) ranging from 2 basement floors to a maximum of 47 floors above ground, totaling 3,270 households: 2,728 apartments with exclusive areas of 84 to 208㎡ and 542 officetel units with exclusive areas of 39㎡.
The complex allows residents to conveniently use large shopping facilities such as Hyundai Premium Outlet (Songdo branch) and Triple Street immediately after moving in. The nearby Songdo Severance Hospital, with 800 beds, which began construction in December 2022, is within walking distance. It is close to Yonsei University International Campus, Incheon Global Campus (State University of New York, George Mason University, Ghent University, University of Utah), and the Inha University Open Innovation Campus (Inha University Songdo Campus) is adjacent to the site.
Access is easy via Incheon New Port Road and Songdo Bio Road, connecting to the 2nd Gyeongin Expressway, 3rd Gyeongin Expressway, and Yeongdong Expressway through Aam Road. Last month on the 7th, the groundbreaking ceremony for the Metropolitan Area Express Railway Line B (GTX-B) was held, putting the project on track and enhancing the future value of the complex.
The future value is also outstanding. To the south of the complex, Samsung Biologics has started constructing its 2nd Bio Campus, investing a total of 7.5 trillion KRW to build four factories, and Lotte Biologics is also planned to be established. To the north, the Yonsei Science Park (Yonsei University International Campus Phase 2) is under active development.
Meanwhile, the apartments in ‘Songdo Xi Punggyeongchae Grenoble’ are priced in the 800 million KRW range for the 84㎡ units, which is cheaper than surrounding market prices. The down payment is split into two installments of 10%, with the first installment being 5%, reducing the initial financial burden. The resale restriction period is six months, and all unit types offer free balcony expansion benefits.
The model house for ‘Songdo Xi Punggyeongchae Grenoble’ is located in Songdo-dong, Yeonsu-gu, Incheon.
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