- Era of 10 Million Elderly Population... Residential Facilities Next to Hospitals Become the Trend
- Abundant Infrastructure Formed Around Hospitals is a Bonus
The value of residential facilities adjacent to large hospitals offering high-quality medical services is rising. This is due to the rapid progression into a super-aged society, with the baby boomer generation, which constitutes a large portion of the population, fully entering the senior demographic. Especially since the population structure is expected to shift dramatically into an inverted triangle shape where the senior generation forms the majority, the status of complexes with excellent medical infrastructure, known as ‘Byungsegwon’ (hospital zone) and ‘Uisegwon’ (medical zone), is expected to grow increasingly significant.
In fact, South Korea is on the verge of entering a super-aged society. According to the Statistics Korea’s future population projections, as of 2024, the population of South Korea is recorded at 51,751,065. Among them, the elderly population aged 65 and over is 9,938,235, accounting for about 19.2% of the total population. By next year, the elderly population will exceed 10 million, marking the entry into a super-aged society where about 20% of the total population is elderly.
This demographic change is rapidly reflected in housing trends. Quick response in emergencies and the recent increased interest in health management have made accessibility to medical facilities an important factor in choosing residential locations.
According to Korea Real Estate Agency’s Subscription Home, ‘Gwanjeo Prugio Central Park,’ launched in October last year in Seo-gu, Daejeon, attracted 2,280 applicants for 298 general supply units (excluding special supply), recording an average subscription competition rate of 7.65 to 1 for the first priority. Directly opposite the complex is Konyang University Hospital, a regional emergency medical center.
In November last year, ‘The Sharp Uijeongbu Station Link City,’ supplied in Uijeongbu-si, Gyeonggi-do, received 5,406 first-priority subscription applications for 1,041 units (excluding special supply), achieving a first-priority subscription competition rate of 5.19 to 1. The complex is within walking distance of Uijeongbu Hospital of Gyeonggi Medical Center, a general hospital in Gyeonggi-do.
In this context, new supply complexes adjacent to general hospitals are attracting attention. ‘Shinyoung Jiwel Pyeongtaek Hwayang,’ located in the Hwayang District of Pyeongtaek, Gyeonggi-do, which boasts the largest scale among private-led urban development projects, is a representative example.
Shinyoung Hwayang District Development PFB Co., Ltd. will open the model house of ‘Shinyoung Jiwel Pyeongtaek Hwayang’ in the Hwayang District on the 31st of this month (Friday) and begin full-scale sales.
‘Shinyoung Jiwel Pyeongtaek Hwayang,’ located in the Hwayang District, is a large complex consisting of 10 buildings from 2 basement floors to 29 above-ground floors, totaling 999 units. All units are a single exclusive area of 84㎡, which is highly preferred by actual buyers. The construction is undertaken by Shinyoung C&D.
The subscription schedule starts with special supply on June 3rd (Monday), followed by first priority on the 4th (Tuesday), and second priority on the 5th (Wednesday). The announcement of winners will be on the 13th (Thursday) of the same month, and the official contract signing for winners will take place over three days from June 24th (Monday) to 26th (Wednesday). Anyone aged 19 or older can apply regardless of home ownership or household head status, provided they have been subscribed to a subscription savings account for at least 12 months and meet the deposit requirements. Interest-free benefits on interim payments apply, and the resale restriction period is six months.
‘Shinyoung Jiwel Pyeongtaek Hwayang’ is located in the very center of the Hwayang District, and residents will have convenient access to a general hospital scheduled to open within the district in 2025. The hospital will offer various medical services including an emergency medical center, cardiovascular and cerebrovascular center, pediatrics, surgery, internal medicine, intensive care unit, obstetrics and gynecology, artificial kidney room, and health check-up center.
The district’s central commercial area and public office buildings will also be developed adjacent to the complex. Additionally, an elementary school is scheduled to open right in front of the complex, ensuring safe commuting for children, and middle and high schools as well as academies are nearby, providing excellent educational conditions.
Distinctive community facilities also stand out. For the first time in the Hwayang District, unit storage rooms, a dry sauna, and a futsal court will be introduced, along with an indoor gymnasium, a grass plaza, and a community plaza. Furthermore, a tea house for residents to enjoy leisure time, children’s playgrounds and toddler playgrounds, a moms’ station, fitness center, golf practice range, care center, and daycare center will be established, offering a diverse range of community amenities.
Meanwhile, the model house of ‘Shinyoung Jiwel Pyeongtaek Hwayang’ is located in Songdam-ri, Anjung-eup, Pyeongtaek-si, Gyeonggi-do. The move-in is scheduled for April 2027.
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