Large Apartment Prices Rise Only in Gwangju... Scarcity Boosts Appeal of "Jungang Park Lotte Castle"

Only Prices of Large Units Rise—Large Apartments Account for Just 12% of All Units in Gwangju

Jungang Park Lotte Castle Signature (84 to 233 sq. meters) Draws Attention from Medium and Large Apartment Seekers

In Gwangju Metropolitan City this year, only large apartment prices have risen, as the strong preference among families for spacious living and the scarcity of such units have coincided.

According to Real Estate 114, between January and July of this year, the average sale price per 3.3 square meters for apartments in Gwangju Metropolitan City with a dedicated area larger than 85 square meters increased from 12.86 million won to 12.89 million won. During the same period, apartments exceeding 85 square meters in dedicated area were the only segment where prices rose in Gwangju.

The upward trend in large apartment prices is also seen in individual complexes. According to KB Real Estate Market Price, a 129 square meter unit in "Hanguk Adelium Complex 1" in Bongseon-dong, Nam-gu, Gwangju, increased from 1.47 billion won in January this year to 1.5 billion won in July, up by 30 million won. Likewise, a 140 square meter unit in "Ssangyong Sweet Dot Home" in the same area rose from 1.42 billion won to 1.44 billion won, an increase of 20 million won.

The underlying reason for the relatively strong price trend of large apartments in Gwangju is attributed to demand from end-users—mainly families—who prioritize good school districts and a pleasant residential environment. In particular, spacious apartments in Bongseon-dong, Nam-gu—a neighborhood recognized for both its top-tier schools and high-end residential status—have achieved high prices. This is driven by buyers seeking both quality education for their children and plans for long-term residence, which continue to support high prices for larger housing typologies.

The low proportion of supply also contributes to the scarcity value of large apartments. According to Real Estate 114, among the total 464,320 apartment units in Gwangju Metropolitan City, only 53,717 units are larger than 85 square meters, making up about 12% of the total. In other words, only about 1 in 10 apartment units in Gwangju is considered large.

In addition, the recent supply of new apartments in Gwangju has also focused on small and medium-sized units of 84 square meters or less, further limiting opportunities for buyers to choose newly built large apartments. As demand persists for medium-sized or larger complexes with spacious interiors, outstanding educational environments, pleasant natural surroundings, and a wide array of community facilities, the value of large housing types is expected to remain highlighted.

In particular, buyers with ample financial resources are showing strong demand for “newly built branded large-scale complexes,” which offer both defensive price stability and distinct scarcity value.

Amidst these trends, "Jungang Park Lotte Castle Signature," currently being sold in Seo-gu, Gwangju, is attracting attention from those seeking medium and large-sized apartments.

This development will feature a total of 2,772 units across 39 buildings, ranging from three basement levels to a maximum of 28 above-ground floors, with exclusive areas spanning 84 to 233 square meters. The complex offers various housing types, from the sought-after larger layouts to 84 square meters units, allowing buyers to select according to family size and lifestyle. Notably, the 2-1BL "Wellive Edition" consists of 487 large units, featuring dedicated areas of 121 to 139 square meters.

The project’s notable feature is that it is part of a privately-led special park development within the first district of Jungang Park, covering an area of approximately 2.43 million square meters. Residents will enjoy access to large green spaces, including Pungam Lake, six themed forests, and eleven village forests. The complex will also include diverse community amenities such as a sauna, sky lounge, fitness club, golf club, book cafe, and guest rooms.

The area also offers abundant lifestyle infrastructure. Nearby are Lotte Mart, Lotte Outlet, hospitals, and other convenience facilities, as well as schools including Hwajeongnam Elementary School, Hwahae Elementary School, Gwangju Middle School, and Pungam High School. When the first phase of Gwangju Metro Line 2 opens in the future, transportation convenience is also expected to improve.

A representative from the sales department stated, "Gwangju has a solid base of family-oriented buyers who prioritize school districts and residential environment, while the proportion of apartments larger than 85 square meters remains low, making large housing types particularly scarce," adding, "Jungang Park Lotte Castle Signature continues to attract interest from buyers seeking spacious and comfortable residential spaces, as it offers a variety of medium- to large-sized layouts, a large-scale park, and branded value."

The scheduled move-in date for "Jungang Park Lotte Castle Signature" is August 2027.

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