The scarcity value of privately sold apartment complexes in the housing market is increasing. This is because, as the construction industry slows down, the supply of apartments has decreased, and the government’s supply policy has shifted to focus on public housing, further shrinking the supply of private apartments.
Public housing sales offer the advantage of relatively low prices, but the eligibility requirements and conditions are strict, and competition is fierce. For public housing in the Seoul metropolitan area, requirements include: being a member of a non-homeowner household, having maintained a subscription savings account for at least one year, making at least 12 deposits, and meeting specific income and asset criteria. In addition, a significant portion of supply is allocated to special categories such as newlyweds, further reducing opportunities for general applicants and making it even more difficult to secure a successful application.
As a result, genuine homebuyers are turning their attention to privately sold complexes, which have lower entry barriers and clear product competitiveness. In particular, large-scale branded complexes supplied by major construction companies often become local landmarks, leading the regional market with stable residential environments, abundant community facilities, and comprehensive living infrastructure. The rarity of these complexes increases their scarcity value, which is directly reflected in rising prices.
In fact, "Godeok Gracium," a complex with 4,932 units located in Gangdong-gu, Seoul, saw an 84.24㎡ unit sell for 2.2 billion won (3rd floor) this month. Compared to a transaction for the same unit size at 1.72 billion won (22nd floor) in September 2023, the price has risen by 480 million won in just two years. Similarly, "Suwon Station Prugio Xi" in Suwon, Gyeonggi Province (a total of 4,086 units), saw an 84.99㎡ unit rise from 740 million won (9th floor) in January 2023 to 890 million won (17th floor) last month, marking a 150 million won increase in market value.
As these large-scale branded complexes prove their value by leading local price trends, "Unjeong I-Park City" has emerged as a development to watch in the second half of the year.
"Unjeong I-Park City," supplied by HDC Hyundai Development Company in the Seopaedong area of Paju, Gyeonggi Province, will consist of 25 buildings with 2 basement levels and up to 29 floors above ground, offering exclusive areas ranging from 63 to 198㎡, for a total of 3,250 units. As the largest apartment complex in Unjeong, Paju, it is evaluated as having both scarcity and symbolic value.
The internal infrastructure matches the scale of the complex. In addition to a variety of community facilities befitting the I-Park brand, the development will offer differentiated residential value with large-scale landscaped areas such as Signature Field, Urban Cluster, and Life Garden, totaling approximately 64,000㎡.
The location competitiveness is also outstanding. Through GTX-A Unjeong Jungang Station, residents can reach Seoul Station and the planned Samseong Station in about 20 minutes. Major road networks such as Jayu-ro, the Second Capital Region Ring Expressway, and the planned Pyeongtaek-Paju Expressway are nearby, providing excellent accessibility to Seoul.
With industrial complexes such as Paju Book City, Munbal and Sinchon Industrial Complexes, and the planned Unjeong Technovalley nearby, the area offers excellent conditions for living close to work. There is also abundant living infrastructure, including Emart, Lotte Premium Outlet, Lotte Cinema, and the planned Starfield Village. Green spaces like Simhak Mountain and Chorongkkot Park are close by, ensuring a pleasant residential environment, and some units offer views of the Han River.
The future value is further enhanced by the development of the Paju Medical Cluster. As the complex will be located within the Paju Medical Cluster, residents will have the closest access to a planned general hospital, and will be able to walk to the planned innovative medical and bio-convergence complex for work.
The model home for "Unjeong I-Park City" will be located in the Wadong-dong area of Paju, Gyeonggi Province, and is scheduled to open in October.
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