Recently, the strength of newly built apartments continues in the real estate market. This is because the residential satisfaction has increased due to the excellent product features and quality that can only be enjoyed in new apartments, and the scarcity of new apartments is also increasing due to the shortage of housing supply.
As the preference for new apartments continues, the price gap between new and old apartments is widening further.
According to Zigbang, as of November 2024, the sale price per 3.3㎡ of apartments completed within 5 years nationwide was 21.45 million KRW, which is 1.31 times higher than the price of apartments older than 5 years (16.35 million KRW per 3.3㎡). The price gap between new and old apartments has widened compared to 2021 (1.27 times), when housing prices peaked.
Experts interpret this as related to the lowered expectations for redevelopment projects. In the past, old apartments were popular because they could yield significant profits through redevelopment projects. However, recently, various issues during redevelopment processes have delayed or canceled projects, reducing the merits of old apartments. Additionally, the sharp rise in construction costs has lowered premium expectations.
In particular, among the 30s and 40s real demanders who have recently emerged as the main players in the housing market, the perception that current residential satisfaction is more important than future housing price increases has spread, so the ‘Eoljuksin’ trend is expected to continue for some time.
A real estate expert said, “As the number of 30s and 40s real demanders who prefer newly built apartments with the latest specialized designs and convenient community facilities within the complex increases, their value is also rising significantly,” adding, “As demand for living in new apartments grows, attention is focused not only on newly built apartments within 5 years but also on newly launched complexes.”
Amid the rising preference for new apartments, a new apartment launched as a high-end brand in the core location of Pyeongchon is attracting attention. ‘Acro Vestineau,’ which announced the winners on the 27th and is about to proceed with official contracts, is the protagonist.
The complex is located in a station area within walking distance of Beomgye Station, known as a premium area in the region, and it has attracted strong interest from demanders early on because it applies DL E&C’s high-end brand ‘Acro.’ Especially, it is supplied as a post-sale complex, allowing for quick move-in, and it is known that there are many subscription inquiries from demanders who want to switch to a new apartment.
Currently, even old apartments over 30 years old in Pyeongchon are traded at 1.5 billion KRW. According to the Ministry of Land, Infrastructure and Transport’s actual transaction price disclosure system, ‘Mokryeon 1 Complex’ in Hogye-dong, Dongan-gu, Anyang-si, Gyeonggi Province, with an exclusive area of 122㎡, found a new owner for 1.53 billion KRW last June. This complex was also traded for 1.53 billion KRW in May, and the current asking price for this size has risen to 1.6 billion KRW. Especially, considering that this apartment was built in 1992 and is a 32-year-old aged apartment, the transaction amount is even more remarkable.
The sale price of ‘Acro Vestineau’ averages 40.7 million KRW per 3.3㎡. △For an exclusive area of 59㎡, the price ranges from 995.2 million KRW to 1.0895 billion KRW △For an exclusive area of 84㎡, the price ranges from 1.4438 billion KRW to 1.5744 billion KRW. Since it is supplied as a post-sale complex, balcony expansion is provided as a basic option, and the 10% down payment can be paid in two installments.
Community facilities comparable to global resorts will also be established. ‘Acro Vestineau’ is set to have the region’s first indoor swimming pool within the complex. The indoor swimming pool, which will be 25 meters long with 4 lanes, is a high-end community facility that combines functional elements as well as the emotional element of resort life. In particular, a separate information desk, cafeteria, and shower rooms will be provided, allowing residents to enjoy a perfect rest as if they were at a resort within the complex.
The interior design of the indoor swimming pool is handled by ITM Yuihwa Architects. Led by CEO Yuihwa, the eldest daughter of the world-renowned architect Jun Itami (Korean name Yoo Dong-ryong), this architectural firm is famous for inheriting and developing Jun Itami’s architectural philosophy.
The interior finishing materials of the indoor swimming pool will be the highest-grade imported materials. The walls and floors of the indoor swimming pool will be finished with Italian tiles, and the ceiling will be made of French glass to create a cozy yet luxurious atmosphere. Additionally, Japanese flooring materials will be applied to the powder room and locker room floors, adding not only luxury but also aesthetic value to the space.
Meanwhile, ‘Acro Vestineau,’ launched in Pyeongchon where there is abundant demand for new apartments, recorded an average competition rate of 6.7 to 1 with a total of 1,460 applicants in the previously conducted 1st and 2nd priority subscription applications. In particular, some types attracted attention with the highest winning score of 74 points, which corresponds to a perfect score for a 5-person household.
The official contract signing for the winners of ‘Acro Vestineau’ will be held for three days from Monday, December 9 to Wednesday, December 11. The housing exhibition hall is located in Bisan-dong, Dongan-gu, Anyang-si (near Hakun Park). Move-in is scheduled for March 2025.
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