Residential Comfort Drives House Price Increase... High Demand for Complexes Near Lakes and Parks Soars
When choosing a house, factors such as location, transportation, and complex size are important, but the view also has a significant impact. Complexes with unobstructed views consistently maintain high preference even within the same complex, allowing them to defend their prices well even during housing market downturns.
According to the Ministry of Land, Infrastructure and Transport's real transaction price disclosure system, an 84㎡ unit at ‘Acro River Heim’ in Heukseok-dong, Dongjak-gu, Seoul, was traded for 2.6 billion KRW (17th floor) in March. This unit, which offers a view of the Han River, set a new record price for the complex. It surpassed the recent transaction prices of 2.35 to 2.45 billion KRW for an 84㎡ unit at ‘Risence’ in Jamsil-dong, Songpa-gu, drawing attention.
In Banpo-dong, Seocho-gu, where ‘Acro River Park’ is located along the Han River, prices vary greatly depending on whether an 84㎡ unit has a Han River view. Royal floor units with a Han River view are currently listed for over 5 billion KRW, while units without the view inside the complex are priced around 3.8 to 4 billion KRW.
Views of parks other than the Han River are also popular. An 100㎡ unit at ‘Eco City The Sharp Phase 2’ located near Sebyeong Park in Eco City, Jeonju-si, Jeollabuk-do, reminiscent of New York’s Central Park, was traded for 700 million KRW in March. This is 22.5 million KRW higher than the 677.5 million KRW price two months earlier in January.
On the other hand, in Complex A located north of Eco City without a park view, an 84㎡ unit was traded for 528 million KRW in April, down 17 million KRW from the 545 million KRW transaction of the same floor a month earlier.
A local real estate agent said, “Since views cannot be artificially created, they have high scarcity value,” adding, “Even within the same housing district, there is about a 100 million KRW price difference depending on whether there is a park view. Naturally, complexes within walking distance to parks are more preferred.”
Meanwhile, POSCO E&C is drawing attention by launching ‘Eco City The Sharp Phase 4’ in the Eco City area of Jeonju, Jeollabuk-do, right in front of Sebyeong Park, which embraces Sebyeong Lake. The complex is expected to be advantageous for securing views (for some units) due to its wide spacing between buildings. It is also close to Baekseok Reservoir, promising a pleasant residential environment.
‘Eco City The Sharp Phase 4’ will consist of 5 buildings ranging from 2 basement floors to a maximum of 30 floors above ground, with units sized from 84 to 161㎡, totaling 576 households. As it is located in the eco-friendly residential complex ecological city ‘Eco City,’ which harmonizes housing, transportation, education, and nature, residents can expect abundant living infrastructure.
‘Eco City The Sharp Phase 4’ is close to KTX Jeonju Station and has excellent transportation networks including the Saemangeum-Pohang Expressway and Honam Expressway. Using Dongbu-daero and Gwahak-ro makes commuting to nearby industrial complexes convenient.
The educational environment is also excellent. Hwajeong Elementary and Jeolla Middle School are within walking distance, allowing safe commuting for young children. Additionally, many schools such as Jayeon Elementary, Hwajeong Middle, and the planned Jeolla High School are nearby. Furthermore, amenities like E-Mart, CGV, the central commercial district, and the Eco City Complex Community Center (scheduled for 2024) are adjacent, enabling convenient living.
‘Eco City The Sharp Phase 4’ will complete the The Sharp brand town with a total of 2,646 households together with the previously successfully supplied Eco City The Sharp Phases 1 to 3. As the last complex in Eco City subject to the price ceiling system, reasonable prices are expected, and units with Sebyeong Park views are anticipated to see price increases after move-in.
‘Eco City The Sharp Phase 4’ will not operate a separate model house but will be managed as a cyber model house.
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