Asset Inflation in the City ... First-Priority Subscription for 'Seomyeon Summit The New'

- "Seomyeon Summit The New" Positioned at the Core of Regional Development Axes, Including Beomjeon Depot Relocation and Bujeon Station Transfer Center
- "Seomyeon Summit The New" at the Heart of Integrated Development, Emerging as a Strategic Hub Driving Future Value

As 'asset inflation' continues in the real estate market, the criteria for homebuyers in choosing their residences are also changing. With the future increase in asset value now taken for granted, attention is focusing on areas or complexes where a greater premium can be expected.

'Asset inflation' refers to the phenomenon of asset prices rising continuously. In the real estate market, this term reflects the expectation that asset values will continue to rise, based on the learned experience that both pre-sale and transaction prices have consistently trended upward.

Against this backdrop, the Seomyeon area, often called the 'Myeongdong of Busan,' is capturing the attention of buyers. As a series of large-scale development projects are expected to significantly enhance the area's value, anticipation for future appreciation is growing.

In fact, the Seomyeon area is seeing a series of major development projects rarely found in other regions. First, the relocation of the Beomjeon Railway Vehicle Depot is underway, aiming to transform approximately 600,000 square meters in Beomcheon-dong, Busanjin-gu into an 'Urban Innovation Park' that integrates Fourth Industrial Revolution industries, cultural content, residential, and tourism functions.

Additionally, the development of the Bujeon Station Integrated Transfer Center is gaining momentum. With a total project cost of 460.4 billion won, the project will establish transfer facilities, retail spaces, office buildings, residential units, and cultural assembly facilities. Upon completion, it is expected to improve local transportation and become a major east-west transportation hub.

Furthermore, a high-end branded town with about 9,000 households is being developed around Busan Citizens Park, which is expected to bring in new residential demand and expand local infrastructure. The next-generation Busan-type express railway, 'BuTX,' which will connect major areas of Busan, is also planned to pass through Bujeon Station.

A real estate expert commented, "There is a saying that today's choices determine your wealth in ten years. As asset inflation in the real estate market intensifies, buyers are increasingly interested in areas with high future value. In particular, Seomyeon is gaining prominence in the real estate market, as it is well-equipped with various infrastructure and is surrounded by several major development projects."

This is also why buyers' attention has recently turned to 'Seomyeon Summit The New.'

Daewoo Engineering & Construction is accepting first-priority subscription applications for 'Seomyeon Summit The New' in Jeonpo-dong, Busanjin-gu, Busan. This high-end residential complex, to be built on the former site of the NC Department Store Seomyeon branch, will consist of four buildings ranging from eight basement levels to 47 floors above ground. It will offer 919 apartment units ranging from 84 to 147 square meters in exclusive area, and a large-scale commercial facility from basement level one to the third floor above ground.

The subscription schedule is as follows: first-priority applications on Tuesday, August 19, and second-priority applications on Wednesday, August 20. The winners will be announced on Tuesday, August 26. The contract signing period for successful applicants is scheduled for three days, from Monday, September 8 to Wednesday, September 10.

'Seomyeon Summit The New' is located in Seomyeon, Busan's premier commercial district and the only area where Subway Lines 1 and 2 intersect, making its abundant infrastructure a key advantage. Seomyeon Station on Lines 1 and 2 is about a five-minute walk away, and Jeonpo Station on Line 2 as well as Bujeon Station on the KTX and Donghae Line are also nearby, offering excellent multi-station access.

In addition, Lotte Department Store Busan Main Branch is within walking distance, and large supermarkets such as Lotte Mart and Emart Traders are easily accessible. Seomyeon Medical Street, Jeonposaigil, and Jeonpo Cafe Street, all clustered around Seomyeon Station, are also close by. Within a one-kilometer radius, there are various schools including Jeonpo Elementary School, Dongseong Elementary School, Deokmyeong Girls' Middle School, and Busan Dongseong High School, further enhancing the area's value.

'Seomyeon Summit The New' will also feature differentiated product offerings befitting a high-end complex. The exterior will maximize its symbolism and luxury with landmark rooftop structures and curtain wall facades on all buildings. The living spaces will mainly consist of mid-to-large-sized units, which are highly preferred in the area, and will be equipped with luxury brand kitchen furniture and imported finishing materials to further elevate residents' quality of life.

The resort-style specialized community facilities are also noteworthy. On the top 47th floor, a sky lounge with city views of Seomyeon, a dry sauna, and a guesthouse with a jacuzzi-focused design will be provided. The community spaces on the first to third floors above ground will be filled with premium amenities, including a 25-meter, three-lane swimming pool, a large-scale private golf facility, and a sauna.

The model home for 'Seomyeon Summit The New' is located at 'Summit Gallery Seomyeon' near Haeundae Station, and the expected move-in date is April 2031.