First-Come, First-Served Special Offer Draws Attention to Yeosu Mixed-Use Complex 'Ssangyong The Platinum Yeosu35'

- Future Value Outstanding Hakdong Living Area Attracts Attention
- Newly Built Scarcity Expected to Yield Capital Gains

The nationwide real estate market is showing signs of bottoming out and shifting to an upward trend. Especially in areas with excellent location conditions or abundant development prospects, there is a surge in cases of record-high transaction prices, causing prices to soar rapidly.

An industry insider stated, “Due to the high inflation environment, the prices of newly built apartments are likely to rise further, and with the expected interest rate cuts starting in the second half of this year, buying demand is increasing. Some complexes are showing clear signs of price increases by breaking all-time high prices.”

In fact, record-high transaction cases are increasing nationwide. The occupancy rights for a 95㎡ unit at ‘Olympic Park Foreon’ in Gangdong-gu, Seoul, scheduled for move-in this November, recently (in April) recorded a new high price of 2.30381 billion KRW. The same size unit was sold for 2.27562 billion KRW about a month earlier, setting a new record, and then surpassed that price again in about three weeks.

Also, in Songdo International City, Incheon, record-high transactions have been occurring monthly. Recently, a 147㎡ unit in ‘Songdo Xi Harbor View Complex 2’ sold for 1.97 billion KRW, rising about 600 million KRW compared to the beginning of this year. A 151㎡ unit was sold for 1.8 billion KRW in March, nearly doubling the actual transaction price compared to 2020. Additionally, the ‘Songdo Hillstate Complex 3,’ famous for being purchased by a well-known actor, has seen prices rise from the 500 million KRW range in 2020 to over 800 million KRW recently for a 142㎡ unit, an increase of more than 300 million KRW.

Prices are also soaring in the Hakdong area of Yeosu City, where large-scale industrial complexes and KTX station complex developments are underway, bringing mammoth-scale benefits.

The 84㎡ unit at ‘e-Pyeonhansesang Yeosu The First’ recently (in May) recorded a new all-time high transaction price of 600 million KRW since the apartment’s move-in in December 2021. Compared to the 285 million KRW transaction for the same size unit in January 2022, the actual transaction price has more than doubled in just 2 years and 4 months since occupancy.

In the Hakdong area of Yeosu City, where apartment prices are showing a full-fledged upward trend, Ssangyong Construction’s ‘Ssangyong The Platinum Yeosu35,’ scheduled for occupancy in October 2025, is attracting attention for its relatively affordable sale price compared to surrounding market prices. This ultra-high-rise landmark project consists of up to 35 floors above ground, with a total of 244 units ranging from 84 to 179㎡, and construction is currently underway up to the 9th floor.

The KTX Yeocheon Station, located just a 5-minute drive from the complex, is undergoing station area development including a complex transfer center with an investment of about 1.5 trillion KRW by 2028. The development will include infrastructure such as the transfer center, parks, green spaces, commercial facilities, and innovation growth facilities.

Development is also accelerating in the Yulchon Industrial Complex and other areas expected to be the biggest beneficiaries of the Hakdong living zone around KTX Yeocheon Station. The Gwangyang Bay Area Free Economic Zone Authority is currently developing six districts including Yulchon and Sindeok, as well as 17 industrial complexes such as Yulchon and Daesong Industrial Complexes. They plan to invest 40 trillion KRW by 2030 to create an economic hub focused on future industries and marine tourism.

‘Ssangyong The Platinum Yeosu35’ offers easy access to Ssangbong Elementary School, Yeocheon Middle and High Schools, and major academies, and features a pleasant green premium with nearby Turtle Ship Park, Yonggi Park, and Marine Park.

Advanced specialized designs include pantry rooms and wide dressing rooms in all units, an air purification system in the entrance, a combined ventilation system in bathrooms, eco-friendly boilers, smart clean ventilation systems, vehicle and unmanned delivery arrival notifications, CCTV monitoring, smart integrated switches, and a parking guidance system in the underground parking lot.

A sales representative said, “As real demand and investment demand concentrate in the Hakdong area recently, inquiries to secure a unit in the landmark ‘Ssangyong The Platinum Yeosu35’ are rapidly increasing. With record-high transaction prices being set in Hakdong and occupancy about a year and a half away, the relatively affordable price compared to surrounding market prices is raising expectations for future price increases.” They added, “We are offering special first-come, first-served benefits including free balcony expansion and system air conditioners to contract holders.”