In the real estate market, each region has its own so-called "Gangnam of the area," referring to neighborhoods with excellent residential conditions and property prices that are higher than the local average.
Suseong District in Daegu and Suyeong District in Busan are prime examples. According to KB Real Estate Market Price Index, the average price in Suseong District, Daegu is 560.2 million won, which is over 200 million won higher than the Daegu average of 343.3 million won. In Suyeong District, Busan, the average price is 710.45 million won, which is more than 300 million won higher than the Busan average of 440.08 million won.
In Seosan City, South Chungcheong Province, the Yocheon-dong area is considered the "Gangnam" of the region. According to Real Estate R114, apartments less than five years old account for 35.2% of all apartments in Yocheon-dong, the highest proportion of new buildings in Seosan. As a result, local buyers seeking new apartments in Seosan are drawn to Yocheon-dong.
According to KB Real Estate Market Price Index, the average price in Yocheon-dong is 358.79 million won, which is 150 million won higher than the Seosan average of 206.02 million won. It is also more than 100 million won higher than Seoknim-dong, which has the next highest average price at 244.09 million won.
Ongoing urban development projects are expected to further enhance the value of Yocheon-dong. The Gongnim District, located between Daejeon District Court Seosan Branch and Lotte Mart Seosan, is being developed to accommodate 1,268 households and about 3,000 residents, including multi-family housing and neighborhood facilities. In the Yocheon 3 District of Yocheon-dong, multi-family housing, detached houses, neighborhood shopping centers, parks, green spaces, parking lots, and public offices are being established.
An industry insider commented, "Areas known as the 'Gangnam' of their region are the top choice for homebuyers. During market recovery periods, these areas tend to rebound quickly, and during market corrections, they are more likely to maintain stable prices, making them more secure."
Against this backdrop, a brand-name apartment complex with medium to large units is being supplied in Yocheon-dong, Seosan, attracting significant interest from buyers. The complex, "Triven Seosan," will consist of 829 units with exclusive areas ranging from 84 to 128 square meters.
On its opening day, October 24, "Triven Seosan" saw long lines of visitors waiting to enter the model home, with a diverse range of prospective buyers, from families to newlyweds and seniors, filling the interior. Over the weekend, more than 15,000 people reportedly visited the site.
The complex will begin special supply on November 3, followed by first-priority applications on November 4 and second-priority applications on November 5. The winners will be announced on November 11, and the official contracts will take place from November 24 to 26.
Attractive contract terms, such as a fixed first down payment of 10 million won, deferred interest on interim payments, unlimited resale, and complimentary benefits, are also drawing attention. With recent tightening of loan regulations increasing the burden on buyers, these incentives are expected to significantly ease the financial load for genuine homebuyers.
The model home is located in Yocheon-dong, Seosan City, South Chungcheong Province.
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