As the proportion of elderly people in Korea increases, the trend of ‘hospital proximity’?living conveniently close to hospitals?is emerging. This is why ‘Songdo Jaipunggyeongchae Granoble,’ located within walking distance of the 800-bed Songdo Severance Hospital, is gaining attention.
According to Statistics Korea, the country is expected to enter a super-aged society early next year. Specifically, after entering an aged society in 2017, the population aged 65 and over reached 9.5 million last year, accounting for 18.4% of the total population. It is forecasted to exceed 20% next year, marking the entry into a super-aged society.
As the elderly population increases, the demand for medical facilities such as large hospitals is surging, and in the real estate market, complexes that offer close access to hospitals, known as ‘hospital proximity’ complexes, are emerging as a trend.
In fact, ‘The Classic 500’ located in Gwangjin-gu, Seoul, has established itself as a representative trend complex for the aging society. Especially, with Konkuk University Hospital located right in front of the complex, residents feel secure, resulting in high residential satisfaction. Despite a deposit of 900 million KRW and monthly maintenance fees around 4.8 million KRW, the occupancy rate is 100%. Considering that the average residency period exceeds 10 years, this highlights the strong preference for hospital proximity complexes.
Residents can also expect premium price gains after moving in. ‘Jayeon & Jaipunggyeongchae 1 Complex’ in Yeongtong-gu, Suwon, Gyeonggi Province, is a ‘hospital proximity’ complex within walking distance of Ajou University Hospital and has become a landmark in the area. According to the Ministry of Land, Infrastructure and Transport’s actual transaction data, a 116㎡ unit in this complex was traded for 605 million KRW in June 2013 and changed hands for 1.595 billion KRW in September last year, forming a premium of about 1 billion KRW over 10 years.
A real estate official said, “As the proportion of elderly people increases and more buyers prioritize health after COVID-19, complexes that offer close access to hospitals have become a trend in the real estate market. Not only do these complexes attract buyers who want convenient hospital access, but they also have strong demand from medical professionals such as hospital and pharmacy workers, making them highly liquid and promising significant capital gains.”
Consequently, ‘Songdo Jaipunggyeongchae Granoble,’ which offers walking access to a large general hospital with 800 beds, is emerging as a regional landmark. The officetel units sold out within a week of contract opening, and apartments are currently being sold on a first-come, first-served basis for some remaining units.
Developed by GS Construction and Jeil Construction Co., Ltd., ‘Songdo Jaipunggyeongchae Granoble’ in Songdo, Incheon, is a project integrating five complexes, making it the largest in Songdo’s 11th district. It consists of 23 buildings (21 apartment buildings and 2 officetel buildings) ranging from basement level 2 to a maximum of 47 floors, with a total of 3,270 households: 2,728 apartments with exclusive areas of 84 to 208㎡ and 542 officetel units with exclusive areas of 39㎡.
The complex is within walking distance of the 800-bed Songdo Severance Hospital, which began construction in December 2022. Large shopping facilities such as Homeplus, Hyundai Premium Outlet (Songdo branch), and Triple Street are also conveniently accessible. It is close to Yonsei University International Campus, Incheon Global Campus (including State University of New York, George Mason University, Ghent University, University of Utah), and adjacent to Inha University Open Innovation Campus (Inha University Songdo Campus).
It offers easy access to the 2nd Gyeongin Expressway, 3rd Gyeongin Expressway, and Yeongdong Expressway via Incheon New Port Road and Songdo Bio Road connected to Aam-daero. The project gained attention as the metropolitan area’s GTX-B line (Great Train Express B line) held a groundbreaking ceremony on the 7th of last month, putting the project on track and enhancing the complex’s future value.
The future value is also outstanding. To the south of the complex, Samsung Biologics has started building its 2nd Bio Campus, investing 7.5 trillion KRW to construct four factories, and Lotte Biologics is also planned to be established. To the north, Yonsei Science Park (Yonsei University International Campus Phase 2) is under development.
Meanwhile, the apartments in ‘Songdo Jaipunggyeongchae Granoble’ are priced in the 800 million KRW range for 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. There is a six-month resale restriction, and all unit types offer free balcony expansion benefits.
The model house for ‘Songdo Jaipunggyeongchae Granoble’ is located in Songdo-dong, Yeonsu-gu, Incheon.
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