Warmth of the June 17 Measures Reaches Jeju Island... Contracts Continue at 'Jeju Donghong-dong Centreville'

- Regulations tightening the real estate market continue... Inquiries surge for non-target areas like Jeju housing complexes
- Seogwipo City, Jeju, sees growing expectations with major developments like Healthcare Town and the 2nd Airport
- 'Donghong-dong Centreville' attracts demand with rare large-scale complex and advanced facilities

With the significant expansion of regulated areas due to the June 17 real estate measures, the balloon effect continues in areas excluded from regulation, and it is expected that the warmth will spread even to Jeju Island, which had been neglected until now.

Under this regulation, all areas except some parts of Gyeonggi, Incheon, Daejeon, and Cheongju were designated as adjusted target areas, and 10 areas in Gyeonggi, 3 in Incheon, and 4 in Daejeon were designated as speculative overheating districts, resulting in overlapping regulations. The industry expects that idle cash with nowhere to go will likely move to areas and complexes with many development prospects that avoid regulations.

A representative area is Seogwipo City in Jeju. In fact, inquiries from metropolitan customers about the ‘Jeju Donghong-dong Centreville’ currently being sold in Donghong-dong, Seogwipo City, Jeju, have sharply increased since the fourth week of June, after June 17, and contracts are also being made smoothly.

This complex is planned to be built in Seogwipo City, where Jeju’s core development projects are concentrated, and it is evaluated as a complex with high potential to develop into a residential hub depending on future infrastructure expansion in the surrounding area.

First, the Medical Service Center, a core facility of the Healthcare Town in Seogwipo City, Jeju, began construction on May 27. The Jeju Free International City Development Center (JDC), with the medical tourism industry designated as Jeju’s new growth engine, started developing the Medical Service Center on a Healthcare Town site with a total floor area of about 9,000㎡ and three above-ground floors, scheduled to be completed by August 2021. Once completed, the center is expected to house medical and research facilities as well as Jeju branches of government medical agencies. A city official anticipates that about 4,000 specialized workers and approximately 30,000 general workers and floating population will be drawn to the area upon the Healthcare Town’s completion.

Additionally, the Jeju Second Airport, planned to be built in Seogwipo City to share the demand burden of the saturated Jeju International Airport, is also considered a major boon. With an investment of about 4.8 trillion won and covering approximately 4.95 million square meters, the completion of Jeju Second Airport is expected to create jobs in the area and revitalize the local economy, driving Seogwipo City’s economic growth.

A sales representative stated, “As development plans in Jeju, which had been stagnant, are progressing one by one, the Jeju real estate market is heating up rapidly. Moreover, after the June 17 real estate measures, investor interest in Seogwipo City, Jeju, a non-regulated area with many large-scale development projects, has increased, leading to inquiries about Donghong-dong Centreville from all over the country, including Seoul.”

The Jeju Donghong-dong Centreville complex consists of seven buildings with one basement floor and up to eight floors above ground, totaling 212 households with exclusive areas ranging from 59 to 84㎡. The basement floor is designed as a parking lot, securing parking spaces for all households, with direct access to each unit via elevators. The number of households by exclusive area is ▲59㎡ 54 units ▲78㎡ 23 units ▲84㎡A 104 units ▲84㎡B 31 units, mainly composed of small to medium-sized units preferred by actual users, featuring specialized designs reflecting this preference.

The complex is located with access to various road networks such as Jungang-ro, Jungsangan-dong-ro, Iljudong-ro, and Donghong-ro, making it easy to move throughout Jeju, including Jungmun Tourist Complex, English Education City, and the airport. Additionally, many schools such as Donghong Elementary, Seogwi Buk Elementary, Seogwipo Central Girls’ Middle School, and Seogwipo High School are nearby, providing excellent educational conditions.

The living environment is also well-equipped. Shopping facilities such as Homeplus, Maeil Olle Market, and Oiljang Market, as well as convenience facilities like Seogwipo City Hall’s first building, Seogwipo Medical Center, Seogwipo Tennis Park, Moonbu Park, and Seogwipo Miracle Library, are all close by.

‘Donghong-dong Centreville’ is arranged mainly facing south, offering a structure optimized for ventilation and airflow, and the level differences within the complex have been equalized to facilitate residents’ movement. To the north of the complex is Hallasan Mountain, and to the south is the Seogwipo sea, providing excellent views (for some units).

The interior of the units applies designs considering residential convenience. Compared to other apartments in the area, ceiling heights and living room window heights are increased to provide superior spatial sensation and views. The latest designs include 3-bay, 4-bay, and U-shaped kitchens by type, and for households with young children, features such as a bathroom care zone for changing clothes, pantry corridor closets, walk-in dressing rooms, and alpha rooms are also provided.

As it is built as a regional landmark, the community and landscaping facilities are excellent. Six themed gardens, including a rock garden, will be created, and a rooftop park with views of the mountains and sea will also be provided. Sports facilities such as a GX room of about 107 pyeong, a fitness center, a screen golf practice range, shower facilities, and locker rooms will be installed, along with a reading room and coin laundry. Since this apartment is located in Jeju, where guests often visit, a guest house is also planned.

Furthermore, cutting-edge systems such as home network and voice recognition artificial intelligence (AI) systems, and one-pass systems will be introduced, and all units will be equipped with dehumidification and fine dust blocking systems to support residents’ convenient and comfortable living.

Meanwhile, the model house for Donghong-dong Centreville is located at 1580-5 Donghong-dong, Seogwipo City, Jeju. The move-in date is scheduled for November 2021.

This content was produced with the assistance of AI translation services.