- A Look Back at Busan Real Estate: Line 2 Station Areas Have Led the Premium Surge During Price Rallies
- Strong Buyer Interest in "Seomyeon Urbancent" Launch at Bujeon Station Area on Line 2
Recently, signs of recovery have begun to emerge in the Busan real estate market, drawing renewed attention to the so-called "Line 2 Golden Line," which previously led the market during periods of price surges. This is because the areas around Line 2 stations were always the first to respond and saw the largest price increases whenever Busan's housing market entered a boom and prices began to rise in earnest.
According to Real Estate R114, from 2019 to 2021, the average sale price in Busan rose by 52.7%. During this period, however, major complexes along Line 2 outperformed the average, leading the market with even higher rates of increase.
A representative example is "Daeyeon SK View," an apartment complex located near Daeyeon Station in Nam-gu. According to the big data real estate platform Asil, the price of an 84-square-meter unit in this complex rose from 600 million won (26th floor) in October 2019 to 1.09 billion won (20th floor) in July 2021, an increase of approximately 500 million won (81.6%) in just two years. This remains the highest transaction price for the same unit type in the complex to date and far exceeds the average increase rate for Nam-gu as a whole during the same period (53.7%).
Similarly, an 84-square-meter unit at "Hwamyung Lotte Castle Kaiser," located near Sujeong Station in Buk-gu, increased from 485 million won (29th floor) in 2019 to 799 million won (23rd floor) in 2021, a 64.7% rise-nearly double the average increase rate for Buk-gu, which was 36.9%. At "Centum Vista Dongwon," near Millak Station in Suyeong-gu, an 84-square-meter unit rose from 600 million won in 2019 to 1.095 billion won in 2021, an 82.5% increase, setting a new record high.
In this way, Line 2 has consistently led the market during every period of price growth, and amid the current rebound, expectations are rising that "this time, too, the upturn will start with Line 2."
An industry insider stated, "The fact that complexes near Line 2 stations showed strength from the early stages of market upturns is clearly demonstrated by actual transaction data," adding, "This time as well, real demand buyers are moving quickly to lead the rebound."
Amid this trend, "Seomyeon Urbancent Desiang," a new development set to launch this month at the prime location near Bujeon Station on Line 2, is attracting significant interest from buyers. Particularly, the project is garnering even more attention because it is located on flat land, which is rare in Busan, in addition to its proximity to Line 2 stations.
"Seomyeon Urbancent Desiang" is located in Bujeon-dong, Busanjin-gu, Busan, and will consist of five buildings ranging from three basement levels to a maximum of 46 above-ground floors. It will offer a total of 831 units, including 762 apartments (211 available 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.
"Seomyeon Urbancent Desiang" boasts a prime location directly in front of Bujeon Station on Busan Metro Line 2, and Seomyeon Station, an interchange for Lines 1 and 2, is just about 500 meters away. Additionally, Bujeon Station, which serves the KTX-Eum train, is nearby, allowing residents to enjoy the benefits of a "triple station area."
Furthermore, Bujeon Station is expected to see further expansion of its transportation network, with plans underway for additional train lines, including the Jungang Line (Bujeon Station to Cheongnyangni Station), the Donghae Line (Bujeon Station to Gangneung Station), the Bujeon-Masan double-track railway, the Busan-type Express Railway (BuTX), and the KTX Gyeongbu Line (Busan Station to Seoul Station), as well as the development of a comprehensive transfer center.
The educational environment is also excellent. Students can walk to Bujeon Elementary School and Seomyeon Middle School, and directly across from the complex are facilities such as a global village offering diverse English learning programs, an English library, and a mathematics culture center.
Given its location in the heart of Seomyeon, residents can also expect a convenient lifestyle. Within a one-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 approximately 470,000 square meters (about 140,000 pyeong). In addition, Seomyeon's first advanced general hospital, On General Hospital, and the large cluster of medical institutions known as "Seomyeon Medical Street" are also nearby.
The area is also noteworthy for the variety of ongoing development projects, which are expected to further improve the residential environment. Notably, the area around Busan Citizens Park is seeing accelerated progress on redevelopment promotion district projects, which are expected to transform the area into a residential town with up to 9,000 households. In addition, redevelopment of the Gaya-daero area, including the Gaya 1 and 4 districts and a mixed-use development on the Gaya Homeplus site, is underway, raising expectations for additional benefits.
Meanwhile, the model home for "Seomyeon Urbancent Desiang" is located in the Sincheon-daero area of Busanjin-gu, Busan, and is scheduled to open in September.
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