Era of Mid- to Large-Sized Apartment Shortage, Spotlight on 'Ilgwang Norwegian Forest Oceanforet'

- Only 20% of Nationwide Supply Are Mid- to Large-Sized Units
Scarcity in Regional Areas Stands Out
- Large-Scale Complex Offers Premium Value
with Community Facilities, Landscaping, and Design

As both the Seoul metropolitan area and regional cities face a shortage of mid- to large-sized apartment supply, end-users are increasingly focusing their attention on these larger complexes. In particular, the scarcity value of mid- to large-sized units is becoming more prominent in regional areas, where such supply is especially limited.

According to an analysis by RealToday, a real estate research firm, based on data from the Korea Real Estate Board's subscription platform, a total of 53,029 general supply apartments were provided nationwide from January to August 2025. Of these, only 10,881 units, or 20.5%, were mid- to large-sized apartments with an exclusive area exceeding 85 square meters.

In the Seoul metropolitan area, out of a total of 22,000 units, only 2,798 were mid- to large-sized, accounting for just 12.7%. In regional areas, 8,083 out of 31,029 units were mid- to large-sized, representing 26%. While the proportion is higher in regional areas than in the metropolitan area, the absolute number remains limited.

A RealToday representative stated, "Mid- to large-sized apartments have consistently strong demand from families, but the limited supply makes them highly scarce. In particular, mid- to large-sized complexes in regional areas that offer ocean views and are located in new towns are highly competitive for both residential living and investment, making them worth paying attention to."

Yurim E&C, 'Ilgwang Norwegian Forest Oceanforet' Nordic House Exterior View

Amid this situation, Yurim E&C has announced it will supply the remaining company-owned units at 'Ilgwang Norwegian Forest Oceanforet' in Ilgwang New Town, drawing significant attention from potential buyers.

'Ilgwang Norwegian Forest Oceanforet' is a large-scale complex consisting of 11 buildings, ranging from three basement levels to 29 above-ground floors, offering a total of 1,294 units with exclusive areas between 84 and 112 square meters.

The complex not only supplies mid- to large-sized layouts, but also boasts high-quality interior features. 'Ilgwang Norwegian Forest Oceanforet' offers a community facility of approximately 4,300 square meters, inspired by the relaxed lifestyle of Northern Europe. Landscaping, designed and constructed by the Everland Landscaping Business Team of Samsung C&T Resort Division, will cover about 33,000 square meters.

Notably, the complex is the first in Busan to feature one dedicated elevator per apartment line, a premium design typically found only in high-end, high-priced complexes nationwide. The convenience and safety of these line-exclusive elevators are expected to significantly enhance resident satisfaction and offer a competitive edge in terms of scarcity compared to other complexes.

Additionally, the complex will feature the 'Nordic House' community facility, which is divided into Lounge Zone, Family Zone, Sports Zone, and Study Zone. The Lounge Zone will include a large atrium with a year-round greenhouse concept, a Nordic-style cafe lounge and tea house, and a multi-club. The Family Zone will offer the Forest Kids Cafe, a large indoor kids cafe free from concerns about weather or fine dust, a residents-only premium sauna, hotel-style guesthouse, sauna, and coin laundry. The Sports Zone will include a fitness club, GX room, and golf lounge, while the Study Zone will feature a book cafe, open reading room, children's library, and study rooms.

Facilities such as the Caribbean Bay Water Ground and Safari World Play Ground, which incorporate Everland themes, are expected to be particularly popular among families with young children. In addition, a large pond (artificial lake) reflecting the blue sky and six themed forests filled with exotic trees will provide a resort-like daily experience, establishing the complex as a new landmark in the area.

To reduce the financial burden on buyers, various financial benefits are being offered, including the 'Safe Sale Condition Guarantee,' where the developer covers any interest exceeding an annual rate of 4.2% on interim payments, as well as a fixed first contract payment of 5 million won.

The model home for 'Ilgwang Norwegian Forest Oceanforet' is located in Suyeong-dong, Suyeong-gu, Busan, and move-in is scheduled for March 2027.