Apartments Near Park and Waterfront 'Hillstate Suwon Park Foret' Available for First-Come, First-Served Contracts

High Scarcity Value Due to Limited Location Leads to Rapid Recovery in Recovery Market

As the real estate market begins to show signs of recovery, apartments featuring waterfront spaces such as lush greenery and lakes are rapidly regaining their pre-slump peak prices.

In Gwanggyo Jungheung S-Class located in Woncheon-dong, Yeongtong-gu, Suwon-si near Gwanggyo Lake Park, the 84B㎡ exclusive unit was traded at 1.53 billion KRW on September 15, marking the highest price this year. The transaction price, which was around 1.3 billion KRW at the beginning of the year, rose by about 200 million KRW. Although it has not yet reached the previous peak of 1.7 billion KRW (July 2021), the consecutive price increases this year are drawing attention.

In Incheon Cheongna International City, significant price differences can be easily found depending on the accessibility to lakes and parks.

For example, the 84㎡ exclusive unit of Cheongna Hanyang Sujain Lake Blue in Cheongna-dong, Incheon Cheongna International City, was traded at 950 million KRW in June, whereas the 84A㎡ exclusive unit of Cheongna Jeil Punggyeongchae Edu & Park Phase 2, which is farther from Cheongna Lake Park, was traded at 698 million KRW in August, showing a difference of over 200 million KRW.

Especially for Cheongna Hanyang Sujain Lake Blue, transactions in the 600 million KRW range were common earlier this year, but gradually transactions in the 700 to 800 million KRW range began to appear, and prices have risen to the 900 million KRW level.

In the sales market, complexes with locations such as waterfront parks also attract high interest. The “Gunsan Lake Park I-Park,” launched in Jigok-dong, Gunsan-si, Jeonbuk in 2021, recorded an average competition rate of 55.79 to 1 and sold out quickly. This complex attracted attention as it is adjacent to Eunpa Lake Park, offering not only views but also easy access to park facilities.

Apartments located near parks or waterfronts are limited. Therefore, apartments embracing highly scarce parks and lakes can expect favorable market prices.

An industry insider said, “Recently, local governments are increasingly developing natural environments such as lakes and streams into resting spaces for citizens or tourist attractions. As a result, apartments built nearby offer easy access to various cultural activities, increasing residential satisfaction.” He added, “This positively affects apartment prices, leading to continuous demand and rising values for such apartments.”

Currently in Suwon, “Hillstate Suwon Park Foret,” which boasts excellent residential comfort adjacent to Seohu Park?a 670,000㎡ lake park?is conducting first-come, first-served unit designation contracts.

Seohu Park is a large-scale lake park of about 670,000㎡ located in the central urban area of Suwon. It is similar in size to Paju Unjeong Lake Park, a representative park in the metropolitan area, and about three times larger than Seokchon Lake Park in Songpa-gu, Seoul.

Seohu Park features Chukmanje, designated as a World Irrigation Facility Water Heritage in 2016, the artificial lake Seohu, and a 2.3 km walking trail around it. Especially, the beautiful sunset over Seohu Lake, called “Seohu Sunset,” is considered one of Suwon’s eight scenic views.

Additionally, Seohu Flower Hill Park, Yeogisan Park, and Yeogisan Mountain are connected, making it a representative healing spot in Suwon.

Hillstate Suwon Park Foret is being developed in Seodun-dong, Gwonseon-gu, within walking distance to Seohu Park. It consists of 10 buildings ranging from two basement floors to 14 above-ground floors. The units are composed of 84㎡ and 113㎡ exclusive areas, featuring popular standard sizes as well as recently in-demand medium-to-large sizes.

The complex offers a 5% down payment (with a fixed 10 million KRW for the first installment) and full interest-free benefits on intermediate payments, allowing buyers to purchase with only 5% of the sale price upfront without additional financial burden until move-in.

A sales official stated, “Additionally, the complex provides free balcony expansions for all units and basic installation of system air conditioners?five units for 84㎡ A and B types, and six units for the 113㎡ type?further reducing buyers’ financial concerns. With a one-year resale restriction and the possibility of resale before registration, inquiries from both actual buyers and investors continue daily.”

First-come, first-served contracts for Hillstate Suwon Park Foret are ongoing at the model house, with move-in scheduled for December 2024.

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