Chuncheon IPARK Sets New Price Records; "Chuncheon Riverview IPARK" to Launch Pre-Sales in July

"Chuncheon Lake City IPARK" Phase 1 and 2 Pre-sale Rights Set New Price Records, Commanding Tens of Millions in Premiums
IPARK Brand Demonstrates Its Power in Chuncheon, Gangwon Real Estate Market... Emerging as a Market-leading Complex

Recently, in the real estate market of Chuncheon City, Gangwon Special Self-Governing Province, apartment complexes under the "IPARK" brand by HDC Hyundai Development Company have been attracting significant attention. This is due to their solid residential infrastructure and high brand preference. With move-ins scheduled for August, these apartments are being traded at premiums of tens of millions of won, repeatedly setting record-high prices and playing a leading role in driving the otherwise sluggish local real estate market.

According to the transaction data from the Ministry of Land, Infrastructure and Transport, the pre-sale rights for "Chuncheon Lake City IPARK" (874 units), located in Samcheon-dong, Chuncheon and set for occupancy in August, have been continuously setting new record-high prices with significant premiums. In April, a pre-sale right for a 63㎡ exclusive area was traded at a record 454.86 million won (12th floor), marking a premium of over 53 million won compared to its pre-sale price of 401.1 million won. That same month, a pre-sale right for the 84㎡ exclusive area was traded at a record 599.54 million won (23rd floor), up more than 10 million won from the previous record, resulting in a premium of over 62 million won. This complex also saw a high first-priority subscription competition rate of 27.75 to 1 at the time of sale, leading to a rapid sellout. As the move-in date approaches, both end-users and investors are flocking to the property.

The price increase for the subsequent development, "Chuncheon Lake City 2nd IPARK," which was launched in August last year, has also been remarkable. For example, a unit with an exclusive area of 84㎡ was traded at 612.72 million won (26th floor) in May, surpassing the 600 million won mark and marking a premium of about 45 million won compared to its pre-sale price of 568 million won. A larger 144㎡ unit was last traded (excluding direct transactions) in November last year for 1,046 million won (29th floor), resulting in a premium of 52 million won, further demonstrating the brand's power. Currently, IPARK complexes occupy two spots in the top ten highest prices for 84㎡ units in Chuncheon.

Existing IPARK complexes are also leading the local market. The first IPARK complex in Chuncheon, "Janghak IPARK" (493 units), which was occupied in December 2012 in Janghak-ri, Dong-myeon, saw an 84㎡ unit traded at 365 million won (12th floor) in April. This is an increase of about 40 million won compared to a year earlier, making it the highest-priced complex among those in Dong-myeon currently.

A local real estate agent in Chuncheon commented, "As housing prices in Chuncheon have bottomed out and started to rise, the preference for the IPARK brand is becoming even more solidified in the region."

In particular, Chuncheon has seen a relatively limited supply of new apartments compared to demand in recent years, resulting in accumulating pent-up demand from those looking to move into newer properties. Additionally, with market expectations that new pre-sale prices will rise further due to increases in raw material and labor costs, buyers are moving quickly toward landmark branded complexes whose value is already proven. As a result, brand competitiveness is expected to directly translate into asset value, establishing itself as a key trend in Chuncheon’s real estate market for the foreseeable future.

With the equation "IPARK equals premium" being clearly demonstrated, HDC Hyundai Development Company is drawing keen interest from potential buyers by announcing the pre-sale of its next brand complex in July.

HDC Hyundai Development Company plans to launch "Chuncheon Riverview IPARK" in July, to be built in Janghak-ri, Dong-myeon, Chuncheon City, Gangwon Special Self-Governing Province. The project will consist of two buildings, from two basement floors to 27 above-ground floors, totaling 262 units. The apartments will be built with small-to-medium-sized units, which are highly preferred by buyers.

"Chuncheon Riverview IPARK" boasts an optimal location, offering access to educational, lifestyle, transportation, and natural amenities. The complex is within walking distance of Janghak Elementary School and Gangwon Middle and High Schools, and within a 2-kilometer radius of multiple other schools, including Hupyeong Middle School, Chuncheon Girls' High School, Hallym Sacred Heart University, and the Hupyeong-dong private education district. Notably, because the complex is located in a "myeon" (township) area, residents may qualify for special rural college admission benefits, which is advantageous for university entrance competition.

Residents can easily access MS Mart by foot from the complex, as well as various other amenities including Hanaro Mart, the Hupyeong-dong commercial district, Chuncheon Sacred Heart Hospital, and Gubongsan Cafe Street. In addition, the complex is directly connected to the Mancheoncheon walking trail, with Soyang River, Gubongsan, Neoul Forest Park, and Son Heungmin Sports Park nearby, allowing residents to enjoy an eco-friendly lifestyle.

The complex is adjacent to Chuncheon Circular Road and Chuncheon Road, making it easy to access the city center. The Dong-myeon IC on the Circular Boulevard (National Route 46), which connects to the Chuncheon IC on the Jungang Expressway, is also nearby for quick travel to other regions. Additionally, a bridge approximately 17 meters long is planned to connect Mancheon-ro to the complex, further facilitating vehicle access.

The strong proximity to workplaces is another standout feature. The Hupyeong General Industrial Complex and NHN Urban High-Tech Industrial Complex are nearby, as are key business facilities in Chuncheon such as Legoland, Toegye Agricultural Industrial Complex, the upcoming Gangwon-do Water Energy Convergence Cluster, and the planned Administrative Complex Town (Gangwon Provincial Government’s new office site), all within about a 5-kilometer radius. These features are expected to satisfy the "work-life balance" needs of professionals.

An official from the sales team stated, "This is the first IPARK brand complex to be introduced in the Dong-myeon area of Chuncheon in 15 years since Janghak IPARK, making it extremely rare. We plan to offer differentiated product quality that matches the excellent location, and we expect to continue the success story of previous developments."

The model house is scheduled to be set up near Geunhwa-dong, Chuncheon City, Gangwon Special Self-Governing Province.

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