Supply in Okdong after 12 years, 'Okdong Gyeongnam Honorsville UBC'... First-come, first-served contract sale

Okdong, Thirsty for New Supply, Receives 'Rare Treatment' as New Apartments Open After Over 10 Years

In Ulsan Metropolitan City, new apartments have been supplied in Okdong, a highly preferred residential area, for the first time in 12 years, drawing the attention of local residents. The protagonist is ‘Okdong Gyeongnam Honorsville ubc,’ which successfully completed formal contracts on the 11th of this month and began first-come, first-served building and unit designation contracts from the 14th.

‘Okdong Gyeongnam Honorsville ubc,’ located in the Okdong area, is a complex facility built alongside the relocation of the ubc Ulsan Broadcasting new headquarters. It consists of 5 buildings ranging from 4 basement floors to 20 above-ground floors, with exclusive areas of 98 to 108㎡, totaling 320 households.

‘Okdong Gyeongnam Honorsville ubc’ is a precious new apartment complex supplied in Okdong, a highly preferred residential area, for the first time in 12 years. In fact, the Okdong Seogwang Village Apartments nearby are in their 25th year since move-in, Okdong Lotte Inven Royal is in its 17th year, and Okdong Diachae is in its 14th year. The most recently supplied Okdong Daegongwon Hanshin Hue Plus has also entered its 12th year since move-in.

On the 14th, when the first-come, first-served building and unit designation contracts for ‘Okdong Gyeongnam Honorsville ubc’ began, the area in front of the model house was bustling with crowds eager to secure their preferred building and unit numbers.

[Photo of first-come, first-served waiting line on the 14th]

A sales official said, “On the 3rd, the government announced the ‘2023 Major Policy Tasks,’ which included easing the metropolitan city resale restriction to 6 months and abolishing the HUG interim payment loan guarantee limit of 500 million KRW per person. As a result, ‘Okdong Gyeongnam Honorsville ubc’ has rapidly emerged as a beneficiary of these policies,” adding, “The strong interest in this first-come, first-served contract is also believed to be due to the possibility of resale before the interim payment loan and the fact that this is a rare new complex supplied in Okdong after 12 years.”

In fact, Okdong is a highly preferred residential area with abundant living infrastructure such as transportation, education, and convenience facilities, as well as a pleasant natural environment. Located in a prime spot near the center of Ulsan, it is easy to quickly travel anywhere within or outside the city. The planned Tram Line 1, connecting Taehwagang Station, Ulsan University, and Sinbok Rotary over a total distance of 11.63 km (scheduled to open in 2027), will further improve transportation conditions in the future.

Additionally, Okdong is famous for its high parental enthusiasm for education, often called the Daechi-dong of Ulsan. Numerous schools such as Okseo Elementary, Gyeokdong Elementary, Okdong Middle, Sinjeong Middle, Seonggwang Girls’ High, and Ulsan Jeil High are located here, and about 200 academies, the largest concentration in Ulsan, create an excellent academic atmosphere.

Major public institutions such as the Ulsan District Prosecutor’s Office and Ulsan District Court are well established, and the formation of a legal town means no harmful facilities can be built, which is another advantage. Moreover, the area boasts rich natural environments including Ulsan Grand Park, which spans 369㎡, and the Okdong detention basin, and is adjacent to Namsan Neighborhood Park and Taehwagang National Garden.

While the residential conditions are excellent, Okdong has experienced a severe housing supply drought for a long time, leading to aging housing stock. Many local residents are waiting for new supply. There is high relocation demand from those who want to upgrade to new apartments while enjoying existing infrastructure. The supply shortage is expected to be somewhat alleviated through ‘Okdong Gyeongnam Honorsville ubc.’

The first-come, first-served contract for ‘Okdong Gyeongnam Honorsville ubc’ does not require a subscription savings account, and anyone aged 19 or older can contract regardless of residence area restrictions or home ownership. Unlike general sales conducted by lottery, buyers can directly select their desired building and unit.

Since ‘Okdong Gyeongnam Honorsville ubc’ is located in Okdong, residents can enjoy abundant infrastructure immediately upon moving in. It is conveniently connected to Iyer-ro and Munsu-ro, facilitating easy travel within and outside Ulsan city. Okseo Elementary and Okdong Middle schools are about a 2-minute walk away, providing a safe commuting environment for parents, and the largest academy district in Okdong is also accessible on foot.

The proximity to Ulsan District Court and Ulsan District Prosecutor’s Office enhances safety, and the complex is adjacent to various parks including the detention basin walking trail right in front of the complex, allowing residents to enjoy a healing life in the city. Additionally, development benefits such as the redevelopment of the Okdong military base site are expected to further improve residential conditions in the future.

Meanwhile, the model house for Okdong Gyeongnam Honorsville ubc is currently open.

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