Affordable 'Choeup Centreville Premier' Attracts Attention Compared to Surrounding Market Prices

As of January, Busan Housing Prices Rise for 30 Consecutive Weeks... Affordable 'Practical' Apartments Attract Attention

Amid the continuous rise in housing prices in Busan, making it increasingly difficult to own a home, newly built apartments priced lower than the surrounding market are attracting the attention of buyers.

According to a survey by the Korea Real Estate Board, housing prices in Busan have risen for 30 consecutive weeks from June last year to January this year. Additionally, as of March, the average sale price per 3.3m² in Busan was 14.02 million KRW, marking an increase of over 21% compared to the same month last year (10.99 million KRW).

Given this situation, buyers are flocking to prime apartments that offer both affordable prices compared to the surrounding market and excellent living infrastructure. When a new apartment is contracted at a low price, it often appreciates by the time of move-in, reaching prices similar to nearby apartments, allowing buyers to anticipate capital gains.

In fact, apartments supplied at prices lower than the local market due to their excellent location were popular in the subscription market. According to the Korea Real Estate Board’s subscription website, ‘Wirye New Town Umirin Phase 2’ in Hanam City, Gyeonggi Province, which held a subscription in May last year, attracted a total of 42,457 applicants for 369 units excluding special supply, achieving great success. This complex was popular because it was supplied at about 35% lower prices than nearby market prices in the Hanam area, known for its excellent residential conditions.

An industry expert stated, “As housing prices are rising nationwide, many buyers are showing great interest in new apartments priced below market value. If these apartments are located in areas with excellent living environments, buyers can expect high premiums, which is why there is strong consumer interest in prime apartments.”

Meanwhile, the ‘Choeup Centreville Premier’ apartment complex is scheduled to be supplied in Busanjin-gu, Busan. Located in Busanjin-gu, Busan Metropolitan City, this complex will consist of 9 buildings with 29 floors above ground and 2 basement levels, totaling 865 units. All units are medium to small-sized, ranging from 59 to 84㎡, which are highly preferred by buyers. The construction company is Dongbu Construction.

Choeup Centreville Premier boasts a reasonable planned supply price. The lowest planned price per 3.3㎡ for a 59㎡ unit is expected to be around 9.65 million KRW. Considering that the nearby ‘Yeonji Xi Phase 2’ has a lowest sale price of 18.3 million KRW per 3.3㎡ for the same area, this represents a price approximately 47% lower.

Despite the reasonable price, the complex offers excellent transportation access. It is easy to use Busan Subway Lines 1 and 2 at Seomyeon Station and Buam Station, and the road network including Buam Intersection, Choeupcheon-ro, Seongji-ro, Dongseo Elevated Road, Geoje-daero, and Baekyang Tunnel is well developed, allowing quick access to major downtown areas such as Seomyeon and Haeundae as well as other parts of Busan. After move-in, a dedicated shuttle bus will be provided to assist residents’ external transportation, attracting significant interest from buyers.

In particular, the nearby completion of the Third Mandeok Tunnel (scheduled for 2022) is generating even more anticipation. This road, connecting Deokcheon-ro in Buk-gu and World Cup-daero in Yeonje-gu, is expected to make access from northern Busan to the Seomyeon area much easier and significantly alleviate traffic congestion in the First and Second Mandeok Tunnels. Additionally, there are abundant development benefits such as the proposed Choeup Line, KTX-Eum, and the Bujeon Station complex transfer center.

Choeup Centreville Premier is designed mainly with south-facing slab-type units to maximize ventilation and natural lighting. Various specialized designs have been introduced, including a high-end styling zone, Mom’s Desk, living room art wall, and flexible walls. The design also enhances daily convenience by incorporating a food waste disposal system. Furthermore, through an IoT-linked smart wall pad, residents can conveniently control various functions such as lighting, heating and cooling, entrance CCTV, and fire detection.

The Choeup Centreville Premier sales office is currently operating in Yeonje-gu, Busan Metropolitan City, and visits are available by prior reservation.

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