Suncheon’s First Xi Premium... Interest in 'Suncheon Grand Park Xi' 50-Pyeong Units

- The Region's First Xi Brand Complexes Generate Billion-Won Premiums and Attract High Popularity
- Suncheon Grand Park Xi, Suncheon's First Xi Brand Complex, Draws Strong Interest from Buyers

The region's first 'Xi' brand complex is leading the market prices and forming premiums worth hundreds of millions of won, attracting significant interest in new sales.

In fact, 'Banpo Xi,' the first Xi brand complex supplied in Seocho-gu, Seoul, is approaching its 20th year since occupancy but is still regarded as a landmark representing the area, leveraging its symbolic status as the region's first Xi brand complex. According to the Ministry of Land, Infrastructure and Transport's actual transaction data, a 132㎡ unit in this complex was sold for 5.35 billion won last December, forming an overwhelming premium of 2.45 billion won over five years compared to the 2.9 billion won transaction in 2019.

'Gangseo Hangang Xi,' the first Xi brand complex supplied in Gangseo-gu, Seoul, also traded for 1.7 billion won in October last year for a 127㎡ unit, forming a premium of about 1 billion won compared to the 722.5 million won transaction at the time of occupancy.

These prices are significantly higher compared to other complexes. According to KB Real Estate data, 'Gwang-an Xi,' the first Xi complex supplied in Suyeong-gu, Busan, has a market price of 25.51 million won per 3.3㎡. This is 27% higher than the average apartment price of 20 million won in Suyeong-gu. Similarly, 'Cheongju Central Xi,' the first Xi in Cheongju, is also leading the local market prices. While the average apartment price in Cheongju is 8.17 million won per 3.3㎡, Cheongju Central Xi trades at an average of 13.3 million won, which is 63% more expensive.

A real estate expert said, "For the region's first 'Xi' brand complexes, the location and product quality are thoroughly considered to symbolize the area, so their value is inevitably higher than other complexes. Additionally, based on differentiated product quality and brand value not seen in the region, high premiums can be expected, making them highly preferred."

Recently, GS Construction's 'Suncheon Grand Park Xi,' located near Suncheon Bay National Garden in Suncheon, Jeollanam-do, has been attracting attention. As the first Xi brand complex introduced in Suncheon, Suncheon Grand Park Xi consists of units ranging from 84 to 206㎡. Particularly, most unit types have been sold out, with inquiries focusing on some remaining units of the 130㎡ type, which is about 50 pyeong. The complex will be built with a total of 997 households.

The location is also excellent. It is situated in the flat Suncheon Pungdeok district, with Suncheon Bay National Garden, the first national garden, to the south, Palma Sports Park to the east, Ocheon Greenjang to the west, and cultural facilities to the north, boasting a superior residential environment comparable to any metropolitan new town development.

Especially, being near Suncheon Bay National Garden and benefiting from the national garden is a strong advantage. Suncheon Bay National Garden is the first large-scale garden designated by the nation, covering 926,992㎡ (about 280,000 pyeong), roughly twice the size of Seoul Forest. It is recognized as a tourist attraction both domestically and internationally, with over 13,000 visitors on New Year's Day alone this year, continuously attracting visitors.

The future value of Suncheon Pungdeok district, equipped with infrastructure resembling a scaled-down new town, is also highly anticipated. The district where the complex is located is planned to include detached house sites and commercial facilities, with development expected to accelerate starting with Suncheon Grand Park Xi.

The product quality also surpasses other regions. All units are primarily south-facing with 4-bay and 5-bay layouts to maximize natural light. Wide distances between buildings ensure residents' privacy and unobstructed views. Each type includes features such as pantries and dressing rooms to efficiently utilize indoor space.

The community center 'Club Xi-an' within the complex includes Suncheon's first sky lounge, offering views of Suncheon Bay National Garden. 'Club Xi-an' will also feature community facilities such as a small library with Kyobo Bookstore's book curation service, a GDR golf practice range, sauna, and fitness club. Additionally, an open coffee station (OCS) with a cafeteria and lounge will allow residents to enjoy a leisurely daily life with tea and coffee.

Meanwhile, the model house is located near Pungdeok Middle School in Pungdeok-dong, Suncheon City, close to the project site.