- Apartments Over 85 Square Meters See Biggest Price Increase in Past Year
- Fierce Competition for Pre-Sales... Popularity of Spacious Homes Continues
The popularity of mid- to large-sized apartments continues in the real estate market. As the role of the home has become increasingly multi-layered, serving not only as a living space but also as a place for work, relaxation, and hobbies, the preference for larger homes has grown, leading to heightened interest in mid- to large-sized apartments.
In fact, apartments with an exclusive area exceeding 85 square meters have recorded the highest rate of price increase over the past year.
According to Real Estate R114, from May last year to the present (as of May 12), apartments with an exclusive area of more than 85 square meters saw a price change rate of 5.28%.
This strong demand for mid- to large-sized apartments is also evident in the pre-sale market. In particular, as of May 12 this year, the average subscription competition rate for apartments over 85 square meters nationwide was 8.75 to 1, the highest among all categories.
An industry insider stated, "Especially in recent years, the supply of mid- to large-sized apartments has been relatively limited due to the dominance of small- to mid-sized apartments. This scarcity is now increasing the value of mid- to large-sized units in the market," adding, "As a result, there is growing interest even in existing mid- to large-sized apartments in the current pre-sale market."
In Gwangmyeong, Gyeonggi Province, the 'Gwangmyeong Yuseunghannaedeul Laforet' project within the Gureumsan District Urban Development Project is supplying all units as mid- to large-sized apartments, and this has led to continued strong contract activity from this demand group.
In particular, for Gwangmyeong Yuseunghannaedeul Laforet, the district of Gwangmyeong has recently seen most of its newly supplied Cheolsan redevelopment apartments focused on small units (36 to 59 square meters), making the mid- to large-sized layouts even more scarce and thus attracting even greater demand.
A local real estate industry official in Gwangmyeong commented, "In Gwangmyeong, the scarcity value of mid- to large-sized units is increasing, and there is a noticeable trend of buyers selling small-unit pre-sale rights and switching to mid- to large-sized apartments at similar price points. This interest is being directed toward Gwangmyeong Yuseunghannaedeul Laforet, which is primarily composed of mid- to large-sized units," adding, "Especially, despite being mid- to large-sized apartments, Gwangmyeong Yuseunghannaedeul Laforet is offered at reasonable pre-sale prices, and for some types, there is even a waiting demand for resale."
In fact, the pre-sale price of Gwangmyeong Yuseunghannaedeul Laforet starts in the 800 million won range for the 83 square meter national standard type, and the 93 square meter type starts in the 1 billion won range, which is considered very reasonable. In comparison, the national standard type supplied in the Cheolsan area of Gwangmyeong is generally priced in the 1.2 to 1.3 billion won range, and in nearby areas such as Pyeongchon, recent pre-sale prices have even surpassed 1.5 billion won, making Gwangmyeong Yuseunghannaedeul Laforet highly attractive.
Meanwhile, Gwangmyeong Yuseunghannaedeul Laforet is being developed on Block A4, one of six blocks in the Gwangmyeong Gureumsan District Urban Development Project (totaling 5,029 units), and will consist of 10 buildings ranging from two basement levels to 18 floors above ground, with a total of 444 units. Unlike Gwangmyeong Cheolsan, which mainly supplied small units with three-bay layouts, this project features mid- to large-sized units of 83 and 93 square meters and adopts a four-bay design.
The complex is within walking distance of Seomyeon Elementary School and Anseo Middle School, providing safe commuting for children. The Gureumsan Urban Natural Park, which is about three times the size of Yeouido Park (670,000 square meters), is adjacent, allowing residents to enjoy a pleasant urban lifestyle. Additionally, within the Gureumsan District, the complex is close to the Gwangmyeong Station area, enabling residents to benefit from various infrastructure such as IKEA, Lotte Mall, Costco, Emart, and Chung-Ang University Gwangmyeong Hospital, further enhancing residential convenience.
Further details about Gwangmyeong Yuseunghannaedeul Laforet can be found by visiting the model home or the official website. The model home is located in Seoksu-dong, Manan-gu, Anyang-si, Gyeonggi Province.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
