Should You Target Apartments with High Premium Expectations? Spotlight on ‘Hyosung Harrington Place Sangmu Station’ with Product Quality and Future Value

The most important factor for genuine buyers considering purchasing a home is to acquire a good house at an affordable price. It would be ideal if the apartment not only has a sale price lower than the surrounding market prices but also boasts excellent quality and future value.

In particular, complexes with various development prospects that can expect price increases in the future attract strong interest from buyers, as they can also aim for capital gains.

Real estate experts advise, "For buyers considering purchasing a home within this year, it is best to focus on prime complexes with abundant future value that can expect price appreciation."

Meanwhile, a prime complex in Gwangju that encourages the use of subscription savings accounts has entered its full-scale sales schedule, drawing attention.

Jinhung Enterprise Co., Ltd. and Hyosung Heavy Industries Co., Ltd. opened the model house for ‘Hyosung Harrington Place Sangmu Station’ located in Seo-gu, Gwangju Metropolitan City on the 6th and officially started sales. This complex has gained great response from prospective subscribers due to its ▲popular brand ▲excellent quality ▲significant development prospects.

Even before the sale, this complex attracted strong interest from buyers as it is the first ‘Harrington Place’ brand apartment introduced by Hyosung Group in Gwangju Metropolitan City.

Hyosung Group has consecutively succeeded in sales in major hub areas such as Seoul, Daegu, and Asan, and the occupied complexes have formed high premiums, establishing themselves as landmarks in their regions.

For example, ‘Yongsan Central Park Harrington Square,’ built in Hangang-ro 3-ga, Yongsan-gu, Seoul, with a maximum of 43 floors and a total of 1,140 households, has been highly valued since its move-in in August 2020, with very few transactions. In particular, the current market price for a 135㎡ unit is around 4.2 billion KRW, nearly double the 2017 sale price of 2.331 billion KRW.

The presence of significant development prospects, which provide high potential for price increases, is also a factor highly rated by prospective subscribers. Sangmu Station on Subway Line 1, within walking distance of the complex, is expected to become the only transfer station in Seo-gu with the opening of Line 2 in 2023. Additionally, the nearby Sangmu District was finally selected as a leading project for the Urban Convergence Special Zone in December, and this area is expected to transform into the ‘Second Pangyo.’

A local real estate agent said, “Currently, the Mareuk-dong area in Seo-gu has several major development prospects, so the price increase potential is expected to be significant. Seo-gu has been designated as a high-priced sale management area, so reasonable sale prices are expected, leading to many inquiries from buyers aiming to secure future value early.”

‘Hyosung Harrington Place Sangmu Station,’ located in Seo-gu, Gwangju Metropolitan City, will be developed with 7 buildings ranging from 2 basement floors to a maximum of 20 floors above ground, with a total of 373 households of 84㎡ and 119㎡ units. The design focuses on a slab-type 4Bay layout to maximize lighting and ventilation, and specialized designs (paid options) such as entrance storage, kitchen pantry, and master bedroom dressing room have been added to provide ample storage space and increase the perceived area.

The complex will begin subscription applications with special supply on the 17th (Tuesday), followed by first-priority applications for the relevant area on the 18th (Wednesday), and first-priority applications for other areas on the 19th (Thursday). Notably, 70% of the supply for units exceeding 85㎡ will be allocated by lottery, increasing the chances of winning for genuine buyers with low subscription scores.

Meanwhile, the model house operates by prior visit reservation to prevent the spread and infection of COVID-19. Buyers wishing to visit the model house can apply for a visit reservation through the official website.

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