Scarce Flat Land in Busan Draws Attention to "Seomyeon Urban Cent Desiang"

- Flat-Land Apartments in Mountainous Busan See Surging Demand
- Apartment Prices and Sales Success Strongly Influenced by Flat-Land Locations

Busan is a representative mountainous city, with approximately 44% of its total area consisting of forest land. This figure is twice as high as Seoul's forest land ratio of about 22%, making flat land in Busan inherently scarce and valuable. Due to these geographical characteristics, apartments located on flat land in Busan command a clear premium in terms of convenience, comfort, price, and subscription competition.

Flat-land apartments offer much easier pedestrian and vehicle access compared to complexes on slopes, and are also more convenient for strollers, wheelchairs, and bicycles. Additionally, the risk of icy road accidents is lower in winter, leading to higher residential satisfaction. Landscaping and community facilities within the complex are easier to develop, and there is less variation in sunlight and views between units due to minimal elevation differences. Thanks to these advantages, so-called "Pyeongsegwon" (flat-land zone) apartments continue to enjoy steady popularity among homebuyers.

In fact, in some complexes in Busan, there is a clear price difference between apartments on flat land and those that are not, even when they are of the same brand and have the same move-in date. A prime example is the "Myeongnyun 2nd I-Park" in Dongnae-gu, which has two separate complexes.

According to the Ministry of Land, Infrastructure and Transport's real transaction price disclosure system, an 84-square-meter unit on the 8th floor of the flat-land Complex 1 was sold for 615 million won on August 18. In contrast, a unit of the same size on the 20th floor of the non-flat Complex 2 was sold for 568 million won on August 20, showing a difference of about 47 million won, or approximately 11%.

The strength of flat-land apartments is also evident in the subscription market. For example, "Yangjeong Lotte Castle Frontiel," supplied in June last year, achieved a complete sell-out in a short period, even in a sluggish market, thanks to its flat-land location and prime access to transportation, proving the sustained demand for such apartments.

An official from the Busan real estate industry explained, "Because Busan has many mountains, the supply of flat-land apartments is inherently low, so those with good locations are recognized for their scarcity value. This scarcity directly translates into a market premium, providing advantages in both price growth potential and sales success."

▣ Seomyeon Urban Cent Desiang: A Flat-Land, Prime Location Apartment Complex Drawing Attention

Amid this growing interest in flat-land apartments, "Seomyeon Urban Cent Desiang," scheduled for supply in September, is attracting attention in the Busan pre-sale market. This complex is located in the Seomyeon living district, Busan's main commercial and transportation hub, and stands out as a rare large-scale flat-land site in the area, raising expectations among prospective buyers.

"Seomyeon Urban Cent Desiang" is located in Buam-dong, Busanjin-gu, Busan, and consists of five buildings with three basement levels and up to 46 floors above ground. It will offer a total of 831 units, including 762 apartments (211 for general sale) with exclusive areas of 59 to 84 square meters, and 69 officetel units with exclusive areas of 79 and 84 square meters.

The apartment unit breakdown by exclusive area is: 269 units of 59 square meters, 78 units of 74 square meters, and 415 units of 84 square meters. Community facilities will be located on the first to third floors above ground, providing convenient living for residents.

The complex boasts not only a flat-land location but also excellent transportation access. Buam Station on Busan Metro Line 2 is within 100 meters of the complex, providing prime access to public transit, while Seomyeon Station, an interchange for Lines 1 and 2, is about 500 meters away on foot, enabling easy travel within and outside the city. Additionally, Bujeon Station, about 1 kilometer away, is undergoing development as a multi-modal transfer center. With the opening of the Jungang Line and Donghae Line, and planned stops for the KTX Gyeongbu Line, Bujeon-Masan double-track railway, and next-generation express railway (BuTX), the area is emerging as a future transportation hub.

The educational environment is also excellent. Students can walk to Bujeon Elementary School and Seomyeon Middle School, and a variety of educational facilities, such as Global Village, an English library, and a mathematics culture center, are located right across from the complex.

The living infrastructure is outstanding as well. Within a 1-kilometer radius of the complex are Lotte Department Store, Lotte Mart, Emart Traders, Lotte Cinema, CGV, Busan Concert Hall, and Busan Citizens Park, which covers about 470,000 square meters (approximately 140,000 pyeong). Seomyeon Medical Street, home to On General Hospital-the first advanced general hospital in Seomyeon-and other large medical institutions, is also nearby.

The area is also rich in development prospects. In fact, the Busan Citizens Park redevelopment promotion district near the project site is currently under development, with Promotion Zones 1, 2-1, and 3 having received management and disposal plan approvals. Along Gaya-daero, which borders the site, residential development projects such as the redevelopment of Gaya Zones 1 and 4 and the mixed-use development of the Gaya Homeplus site are also underway.

Meanwhile, the model home for "Seomyeon Urban Cent Desiang" is located in Sincheon-daero, Busanjin-gu, Busan, and is scheduled to open in September.