- "Gongsaegwon" (Parkside Residential Areas) Emerges as Top Priority for Homebuyers ... "Increasing Influence on Housing Prices"
- The Growing Presence of "Gongsaegwon" in the Housing Market ... Spotlight on Beneficiaries of Korea's First "National Urban Park"!
The importance of "Gongsaegwon," a term referring to residential areas located near parks, is steadily increasing in the housing market.
According to the "2025 Future Housing Trends" survey released by the Housing Industry Research Institute, "comfort factors" such as parks and green spaces (33.0%) were cited as the most important element in housing selection. This ranked higher than transportation convenience (24%), "living convenience facilities" (19%), and "educational environment" (11%). Similarly, in the KB Management Research Institute's "KB Golden Life Report," more than 50% of respondents selected "areas with excellent parks and natural environments" as the most desirable residential condition before retirement.
This growing preference for "Gongsaegwon" apartments is also impacting housing prices. According to transaction data from the Ministry of Land, Infrastructure and Transport, an 84-square-meter unit in "Yeongheung Forest Prugio Park Bien" located in Yeongtong-gu, Suwon-si, Gyeonggi-do, was traded at a record price of 990 million won (25th floor) in April this year. This represents an increase of 100 million won in just three months since the previous transaction at 890 million won (16th floor) in January this year. The most notable feature of this apartment is its location, surrounded by Yeongheung Forest Park, making it a prime example of "Gongsaegwon."
A similar trend is observed in regional areas. In Deokjin-gu, Jeonju-si, Jeollabuk-do, an 84-square-meter unit in "Eco City Daesang 4 Block" was traded at 570 million won (16th floor) in April this year, up 45 million won (8.57%) from 525 million won (15th floor) in March last year. This increase far exceeds the average apartment price growth rate of 5.4% in Deokjin-gu, Jeonju-si, during the same period. The high residential value is attributed to the apartment's location directly in front of Saebyeong Park, a well-known large park in Jeonju, making it a "Gongsaegwon" property.
- The most likely candidate for Korea's first "National Urban Park" ... A large-scale apartment complex with a state-recognized Gongsaegwon brand!
Against this backdrop, a branded large-scale apartment complex expected to benefit from the premium of Korea's first "National Urban Park" is drawing attention. "Jungang Park Lotte Castle Signature," located within Gwangju's largest private park, "Jungang Neighborhood Park," is the main example.
A National Urban Park is a type of natural park designated by the central government among municipal urban parks. The government may designate such parks when there is a need to promote national commemorative projects, or when the area is deemed valuable for preserving natural scenery, history, or cultural heritage.
However, no park has yet been designated as a National Urban Park, as no municipal urban park has met the necessary criteria. In response, the National Assembly plans to pass a revised law this year aimed at easing the requirements for National Urban Park designation.
If the revised law passes, Gwangju Jungang Neighborhood Park is the most likely to be designated as Korea's "first National Urban Park." Including Districts 1 and 2, Gwangju Jungang Neighborhood Park has a site area of approximately 2.79 million square meters, making it one of the largest among candidate sites. In addition, the private park special project is currently underway, and unlike other candidates, 100% of the park site is owned by Gwangju City.
If Jungang Neighborhood Park is designated as a National Urban Park, the value of the surrounding area and the premium of nearby apartments are expected to rise further, as the park's natural scenery and cultural heritage will be officially recognized by the government.
- Gwangju's largest private park special project apartment ... Unprecedented Gongsaegwon premium and convenient living environment
"Jungang Park Lotte Castle Signature" by Lotte Construction is an apartment complex being developed as part of Gwangju's largest private park special project. "Jungang Park District 1," located within the complex, is the largest among the nine parks (ten districts) being developed under Gwangju's private park special project, covering 2,435,516 square meters and spanning the areas of Kumho-dong, Hwajeong-dong, and Pungam-dong in Seo-gu, Gwangju. The park will feature eight themed forests and eleven village forests, as well as spaces for urban camping and garden expos. Additionally, outdoor performance venues and lakeside beaches will be established around Pungam Lake. Gwangju City plans to make this area a representative local space by hosting various cultural programs with citizen participation.
High residential convenience is also anticipated. "Jungang Park Lotte Castle Signature" is surrounded by large residential complexes, resulting in a wide variety of commercial facilities in the area. Furthermore, Lotte Outlet and Lotte Mart are located right next to "Jungang Park District 1" at the Gwangju World Cup Stadium. There are also numerous schools nearby, including Hwajeongnam Elementary School, Seongjin Elementary School, Hyogwang Middle School, Chipyeong Middle School, Gwangdeok Middle School, and Gwangdeok High School.
Transportation infrastructure developments are also planned. Two stations for Phase 1 of Gwangju Subway Line 2 (scheduled for 2026) will be built near the complex. Once this line, connecting Gwangju Station to Gwangju City Hall, opens, access to major downtown areas in Gwangju will become even more convenient. Currently, quick car access is possible via the Second Ring Road and Sangmu-daero, and Seogwangju Station on the Gyeongjeon Line is also nearby.
World-class luxury finishing materials will be used in kitchens and bathrooms, and the complex will feature high-end community amenities such as a sky lounge, luxury sauna, golf practice range, and fitness center. In addition, there will be a total of 5,358 parking spaces, providing about two parking spots per household. Notably, 1,960 of these spaces are designed as expanded parking spots to conveniently accommodate large sedans and SUVs. Furthermore, storage rooms in front of each unit's entrance will be provided for leisure and seasonal items, maximizing the efficiency of the living space.
Lotte Construction's "Jungang Park Lotte Castle Signature," part of Gwangju's largest private park special project, is located in Kumho-dong, Seo-gu, Gwangju. The complex consists of 39 buildings, ranging from three basement floors to 28 above-ground floors, with exclusive areas from 84 to 233 square meters, totaling 2,772 units. The project is divided into three blocks: 1BL (929 units), 2-1BL (915 units), and 2-2BL (928 units). The model house is located in Sangmunuri-ro, Seo-gu, Gwangju, and move-in is scheduled for August 2027.
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