Unprecedented Vibrancy in Commercial Market... 'Hills Avenue Indukwon' Draws Attention as Prime Commercial Facility

- Continued Boom as Demand for Commercial Facilities Surges Following Social Distancing Lift
- Hills Avenue Indukwon for Sale, Featuring Prime Location with Strong Backing Demand and Development Prospects

Recently, transactions of commercial facilities in the real estate market have been gaining momentum. As we enter the full-fledged With-Corona era, restrictions on gatherings and social distancing measures have been significantly eased, raising expectations for the recovery of commercial districts and increasing attention accordingly.

In fact, according to the Korea Real Estate Board's statistics on transaction volumes by building use, last year’s nationwide commercial and office real estate transaction volume (based on reporting date) was 380,849 cases, the second highest after the record high of 384,182 cases in 2017.

In particular, the transaction ratio of non-officetel buildings such as commercial facilities has increased significantly. According to data from the Korea Real Estate Board, last year, the transaction volume of commercial and office real estate nationwide excluding officetels was 215,816 cases, a 40.47% increase compared to 153,637 cases in 2019. This is the highest figure in five years since the related statistics began to be disclosed in 2017.

Reflecting this trend, the influx of wealthy investors has been steadily continuing. According to the ‘2022 KB Real Estate Report’ by KB Financial Research Institute, 38% of asset owners who entrusted their money management to private bankers (PBs) chose commercial properties as their most preferred real estate investment destination. This is the first time that commercial properties have ranked first, surpassing reconstruction apartments and general apartments (each at 20%).

An industry insider said, “With the lifting of social distancing measures, the previously contracted commercial districts have begun to revitalize, raising considerable expectations for commercial district recovery,” adding, “As a result, the number of demanders aiming to secure prime commercial facilities with guaranteed future value, equipped with location and hinterland demand, is steadily increasing.”

Amid this, Hyundai Engineering is introducing the commercial facility ‘Hills Avenue Indeogwon’ in Poil-dong, Uiwang-si, Gyeonggi-do.

Hills Avenue Indeogwon is a commercial facility located within ‘Hillstate Indeogwon,’ which successfully closed subscription in March with an overwhelming competition rate of 231.8 to 1. It is developed on a scale of 77 units from basement level 1 to ground level 2 (76 neighborhood living facilities and 1 sales facility).

Hills Avenue Indeogwon’s strength lies in its abundant hinterland demand, a key element of commercial facilities. As a commercial facility within the complex, it serves 349 households of residents and also meets the residential demand of approximately 13,000 nearby apartment households, including ‘Indeogwon Prugio El Centro,’ ‘Uiwang Cheonggye 2 Public Housing District (planned),’ and ‘ePyeonhansesang Indeogwon The First.’

Moreover, the Uiwang, Gunpo, and Ansan districts have been selected as additional 3rd phase new towns by the government and are slated for development. Redevelopment projects such as ‘Naeson Dagu District’ and ‘Naeson La District’ are also actively underway, so the hinterland demand is expected to increase further.

Additionally, Hills Avenue Indeogwon is a roadside commercial facility adjacent to Poil Intersection and Anyang-Pangyo Road, offering excellent visibility, which is expected to make securing foot traffic much easier.

The transportation environment is also excellent. Indeogwon Station on Line 4 is about 1 km away, allowing quick access to Seoul’s Gangnam and Gangbuk areas. It is also convenient to travel to metropolitan areas such as Pangyo and Suwon via the Metropolitan Area 1st Ring Expressway, 2nd Gyeongin Expressway, and Yongin-Seoul Expressway.

Furthermore, Indeogwon Station on Line 4 is included as an additional stop on the planned GTX-C line, and the Wolgot-Pangyo double-track railway (planned) and Dongtan-Indeogwon double-track railway (planned) are also scheduled for development, so Indeogwon Station is expected to evolve into a quadruple transportation network in the future.

In particular, the product quality befitting the NO.1 brand Hillstate also draws attention. First, gate facade construction is applied to maximize symbolism and visibility from the main road. Various materials and forms such as monobrick, curtain wall, and AL louver will also provide visual beauty.

Meanwhile, Hills Avenue Indeogwon is currently operating a model house.

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