Popularity of Prestigious School Districts Despite Recession... 'Oncheon Park Haneulchae' Promotion Center Opens

- 'Box Office Guarantee' Prestigious School District Apartment Interest
- Record High Real Transaction Price Reported in Famous School District

Despite the increasing uncertainty and polarization in the real estate market, there continues to be strong interest in apartments located in traditionally popular and well-established “prestigious school districts.”

As parents’ desire to provide excellent educational environments for their young children and send them to prestigious universities grows, apartments in school districts have firmly established themselves as “steady-seller” properties with consistently high demand.

Nationwide, apartments in prestigious school districts tend to have higher prices and strong subscription performance.

In Gwangju Metropolitan City, the Bongseon-dong Korean Adelium Phase 1, a representative academy district, recently recorded a transaction price of 1.43 billion KRW for the 129㎡ exclusive type, making it one of the most expensive apartments in Gwangju. With almost no harmful facilities nearby and the formation of a prestigious school district, apartment purchases have steadily continued. Additionally, in the Chungcheong region, Dunsan District in Seo-gu, Daejeon, represented by the Croba apartment with a 101㎡ exclusive type, saw a price increase trend, with a transaction price of 1.18 billion KRW in March.

In Ulsan, Ok-dong and Sinjeong-dong in Nam-gu are recognized as representative school districts. Ok-dong alone hosts 196 academies, ranking first in the number of academies in Ulsan. Earlier this year, the “Munsuro 2nd I-Park Phase 1” apartment with a 114㎡ exclusive type sold for 1.44 billion KRW, setting a new record high price. Thanks to the prestigious school district premium, the price rose by 160 million KRW compared to the previous record.

In April, the “Daegu Beomeo I-Park,” newly launched in Daegu, attracted significant attention by recording a first-priority subscription competition rate of 15.3 to 1. This was the first double-digit subscription competition rate in Daegu in three years and is attributed to the influence of the school district in Suseong-gu, home to Kyungshin High School and Daeryun High School, which boast high medical school admission rates nationwide.

An industry insider stated, “As the famous saying ‘Maengmo Samcheon Jigyo’ (a mother moves three times to find a good school) suggests, the real estate demand to provide excellent educational environments for children will remain an unbeatable advantage in the future,” adding, “As polarization in the housing market intensifies, the value of real estate in prestigious school districts will further increase.”

In Busan, the Dongnae-gu area, known as the 8th school district, is also attracting attention as new housing supply projects are underway.

Recently, “Oncheon Park Haneulchae” opened a promotional center in the Oncheon-dong area of Dongnae-gu, Busan, and is successfully recruiting union members. The complex consists of 7 buildings ranging from 2 basement floors to 27 above-ground floors, with a total of 590 units sized between 59㎡ and 84㎡ exclusive area.

The project site is located within a 5-minute walk of Yurak Girls’ Middle School, which ranks first in academic achievement in Busan, and is part of the traditional Dongnae school district, which includes Oncheon Elementary School, Yurak Girls’ Middle School, Dongnae Middle School, Busan Donghae Middle School, Dongnae High School, and Pusan National University. The Dongnae Station academy district is also easily accessible within a 3-minute drive.

The apartment’s transportation environment is excellent, with Myeongnyun Station on Busan Subway Line 1 located within a 10-minute walk, making it a transit-oriented area. It also offers easy access to all parts of Busan via Jungang-daero, National Route 7, Mandeok Tunnel, Chungnyeol-daero, and National Route 14.

Dongnae-gu is a traditional affluent area with well-established living infrastructure. It features large shopping malls such as Lotte Department Store, Homeplus, and Megamart, cultural facilities like Lotte Cinema and CGV, administrative welfare centers, and medical institutions. Within the complex, a roughly 1 km walking trail, fruit trees, and ecological spaces are planned.

A project official said, “Dongnae-gu is well-known as Busan’s 8th school district, so it consistently attracts both actual demand and investment demand,” adding, “Inquiries from buyers aiming to secure new constructions in the school district are increasing.”