‘View’ Gourmet Apartment Heats Up the Sales Market

Apartments with Natural Views of Parks and Sea Surpass Regional Average Price Increase Rates
Strong Demand Drives Premiums of Hundreds of Millions on Sale Rights

Complexes with excellent views, or 'VIEWs,' are experiencing a sell-out streak in the housing market. These complexes, which offer views of natural environments such as the sea, lakes, and parks from inside the home, boast outstanding vistas and openness. They align well with current residential trends that prioritize comfort and a leisurely lifestyle, making them popular choices among many buyers recently.

‘The Sharp Songdo Marina Bay,’ supplied in February in Songdo International City, Incheon, gained high popularity due to its unobstructed sea views, recording an average competition rate of 60.68 to 1 in the first priority subscription. Also, in the same month, ‘Taehwagang U-Bless Central Park,’ offered along the Taehwa River in Jung-gu, Ulsan, showed an average competition rate of 22.78 to 1, and in March, ‘Daejeon Hanshin The Hue Reserve,’ located right in front of Daejeoncheon Riverside Park, succeeded in closing the first priority subscription with an average competition rate of 23.86 to 1.

In particular, complexes known as ‘view hotspots’ boasting outstanding vistas within their regions have shown remarkable increases in housing prices, attracting significant interest not only from actual residents but also from investors.

According to real estate114 market data, ‘Gwanggyo I-Park’ (completed in 2018), adjacent to Gwanggyo Lake Park in Gyeonggi-do, saw its average complex price rise from 27.99 million KRW per 3.3㎡ in February 2020 to 38.97 million KRW in February 2021, marking a 39.2% increase in one year. ‘Gwanggyo Lake Park Hanyang Sujain,’ also adjacent to the lake park, rose from 21.18 million KRW in February 2020 to 26.71 million KRW in February 2021, a 26.1% increase. These figures far exceed the average apartment price increase of 19.7% in Yeongtong-gu, Suwon-si, where both complexes are located during the same period.

Premiums have also been highly formed on pre-sale rights. For example, ‘Sokcho The Ocean Xi,’ which offers views of the Sokcho sea in Gangwon-do, was priced at a maximum of 482.1 million KRW for an exclusive area of 84.99㎡ at the time of sale in May 2020. However, in March this year, the pre-sale right was traded at 649.83 million KRW (37th floor, based on Ministry of Land, Infrastructure and Transport actual transaction prices), showing a price increase of 167.73 million KRW in just 10 months. Additionally, ‘Forena Jeonju Eco City,’ located in Jeonju Eco City, Jeollabuk-do, with views of Sebyeong Park (Sebyeong Lake), sold a pre-sale right for an exclusive area of 130.92㎡ at 666.93 million KRW (33rd floor) in March this year, forming a premium of 143.63 million KRW compared to the sale price (523.3 million KRW as of October 2019).

An industry insider said, “Recently, buyers carefully consider not only a pleasant residential environment but also the ‘view’ from inside the home when choosing a residence,” adding, “Therefore, the popularity of apartments with wide-open views and natural scenery is expected to continue rising.”

Next month, new complexes expected to become ‘view hotspots’ in their regions are scheduled to be supplied, anticipating high interest from buyers.

HDC Hyundai Development Company plans to supply ‘Gunsan Hosu Park I-Park’ in the Gunsan area of Jeollabuk-do in April. This complex will consist of 10 buildings ranging from three basement floors to 29 above-ground floors, with a total of 665 households and exclusive areas ranging from 84 to 238㎡. Adjacent to Eunpa Lake Park, a representative national tourist attraction in Gunsan, residents can easily enjoy leisure activities such as walking, and some units will offer views of the lake park. The area around the project site is rich in green spaces, including Saedeul Park, Susong Neighborhood Park, and Jeombang Mountain, and Jigok Elementary School is within walking distance, ensuring safe commuting for children. Within a 2 km radius, various shopping and cultural facilities such as Gunsan Medical Center, Lotte Mart, CGV, and Gunsan Arts Center are located, and residents can also access the central commercial districts and convenience facilities of the nearby Susong and Mijang districts.

Geumseong Baekjo plans to supply ‘Geomdan New Town Yemi Ji First Foret’ in Seo-gu, Incheon, in April. The complex will consist of 10 buildings ranging from two basement floors to 25 above-ground floors, with a total of 1,172 households and exclusive areas ranging from 76 to 102㎡. Located south of Seonhwangdaengi Mountain, it secures refreshing views, and residents can enjoy a pleasant natural environment through nearby parks such as Gyeongin Ara Waterway Park and Gyeyangcheon Stream.

POSCO Construction plans to supply ‘The Sharp Yangpyeong River Foret’ in the Yangpyeong area of Gyeonggi-do in April. The complex will consist of six buildings ranging from four basement floors to a maximum of 23 above-ground floors, with a total of 453 households and exclusive areas of 76㎡ and 84㎡. More than 70% of the households will have views of the Namhan River. Yangpyeong Station on the KTX and Gyeongui-Jungang Line is within walking distance, and the complex is close to excellent school districts including Yangpyeong Elementary, Yangpyeong Middle, Yangil Middle, and Yangil High School.

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