This year, there has been a renewed preference for branded apartment complexes in the real estate market. In particular, when a 'brand town'?an area where apartments of the same brand are clustered?forms, it often becomes a local landmark and shows greater potential for price increases, attracting the attention of both end-users and investors.
The reasons for the popularity of brand-focused residential complexes are clear. Brand towns offer unified designs and specialized layouts under a single brand, resulting in high product quality and overall completion of the complex, which leads to high resident satisfaction. Their large scale allows for a diverse and well-organized range of community facilities, and economies of scale enable lower management fees and expanded living infrastructure, making them highly convenient places to live. These advantages appeal not only to those seeking to live there but also to investors, as they raise expectations for future value and price appreciation, thereby increasing the town’s competitiveness as an investment.
The steady popularity of brand towns is driven by the expectation of rising local value and premium status. There have been many cases where brand towns have elevated the overall image of an area. A prime example is the 'Hyundai Apartment' town in Apgujeong-dong, Gangnam-gu, Seoul. More recently, the 'Umi Lin' town in Geomdan New Town, Incheon, the 'Xi' town in Dongsak-dong, Pyeongtaek, and the 'IPark' town in Gagyeong-dong, Heungdeok-gu, Cheongju have all established themselves as representative branded residential areas, drawing significant attention.
The competitiveness of brand towns is also evident in the pre-sale market. Last year, all three phases of 'The Sharp Tangjeong Infinity City' supplied by POSCO E&C in the Tangjeong District of Asan, Chungnam, were completely sold out, demonstrating strong demand among buyers.
The larger the scale, the higher the rate of price increase. According to data from Real Estate R114, as of last month, the prices of branded apartment complexes with more than 1,500 units rose by 8.85% compared to the previous year, marking the highest rate of increase. Complexes with more than 1,000 units also saw a 5.8% increase, and in the Seoul metropolitan area, the rate of increase was even greater.
With large-scale brand towns emerging as 'steady sellers' that offer both residential stability and investment value thanks to their brand power, 'Harrington Place Pungmu,' which is being introduced in the Pungmu-dong area of Gimpo, is attracting attention.
'Harrington Place Pungmu' is located in blocks 1 to 3 of the Pungmu Yangdo District Urban Development Project in Gimpo. The complex will consist of 18 buildings, ranging from three basement levels to up to 29 above-ground floors, and will house a total of 1,769 units. Of these, 1,573 units will be available for general sale, while 196 units will be supplied as private rentals at a later date. The complex is characterized by its focus on small to medium-sized units with exclusive areas of 59 to 84 square meters, which are highly preferred by end-users.
The number of units by block is as follows: 1BL has 866 units, 2BL has 664 units, and 3BL has 239 units. By exclusive area, 1BL includes 189 units of 74 square meters and 481 units of 84 square meters; 2BL includes 219 units of 74 square meters and 445 units of 84 square meters; 3BL includes 80 units of 59 square meters and 159 units of 74 square meters. With a focus on small to medium-sized units, the complex is expected to attract significant interest from end-users. The layout prioritizes south-facing units and incorporates specialized designs such as pantries, dressing rooms, and alpha rooms to maximize space utilization. Ample parking is also provided, with 1.4 spaces per unit.
The location is also noteworthy. The complex is about 800 meters from Pungmu Station on the Gimpo Gold Line, and it is expected to benefit from the planned extension of Seoul Subway Line 5, making it a prime station area. The Line 5 extension to Gimpo is included in the government's plans, and once the extension (Hangang Line, currently undergoing a preliminary feasibility study) is realized, a direct network will connect Magok, Yeouido, Gwanghwamun, Jongno, and other key business districts in Seoul without transfers.
The educational environment is excellent as well. Within a 500-meter radius of the complex are four elementary schools, including Pungmu Elementary School, as well as Yangdo Elementary, Yuhyeon Elementary, and Sinpung Elementary, providing abundant educational infrastructure. In particular, Pungmu Middle School, known as a prestigious school in the area, is also nearby, which is expected to make the complex highly desirable among parents. In addition, Saug Station and the academy district of Geomdan New Town in Incheon are within a 10 to 15-minute drive, offering excellent access to private education.
The model home will be located in Pungmu-dong, Gimpo, Gyeonggi Province, and is scheduled to open in July. Prior to the opening, a promotional center is currently in operation in Pungmu-dong, Gimpo, Gyeonggi Province.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
