‘New Residential Towns’ Improving Aging Old Downtown Residential Environments in Gunsan, Yangsan, and More Gain Popularity

Gunsan New Station Area Umirin Centum Ocean Bird's-eye View

[Asia Economy Reporter Ryu Tae-min] Interest in new apartments in new residential towns is increasing, especially in aging old downtown areas. Land development districts and urban development projects systematically plan overall living convenience facilities such as transportation, education, and commerce, creating a pleasant residential environment.

On the 13th, the Shin Jinju Station area, which is developing around KTX Jinju Station in Jinju City, Gyeongnam Province, is emerging as a new residential area, surpassing the average housing price of Jinju City. According to KB Kookmin Bank Live Real Estate price data, the average sale price of apartments in Gajwa-dong, Jinju City, where Shin Jinju Station area is located, is 11.18 million KRW per 3.3㎡, which is 4.36 million KRW higher per 3.3㎡ than the average apartment price in Jinju City (6.82 million KRW per 3.3㎡).

Local real demand buyers are also flocking to newly developed residential areas. Earlier this year, 'The Sharp Diocean City Phase 2' apartments in Diocean City, Gunsan City, Jeonbuk Province, attracted 27,150 applicants for 462 units (excluding special supply), recording an average competition rate of 58.7 to 1. In July, 'Yangsan Sasong The Sharp Decian Phase 3' supplied in Sasong New Town, Yangsan, Gyeongnam Province, saw 11,008 applicants for 225 units (excluding special supply), showing an average competition rate of 48.9 to 1.

Kwon Il, head of the research team at Real Estate Info, said, "The boom of new towns that started in the metropolitan area is spreading to local areas, and since the living infrastructure is systematically better equipped than in old downtown areas after development, residential satisfaction is also high. Prospective buyers who want to purchase a home in local areas in the second half of this year should carefully observe areas that are establishing themselves as new residential areas and pay attention to the apartments being supplied."

In Gunsan, Jeonbuk Province, WooMi Construction is supplying 'Gunsan New Station Area WooMiLin Centum Ocean.' Located in Gunsan New Station Area D-2 block, it consists of 660 units with exclusive areas ranging from 84 to 101㎡. Nearby, residents can share the infrastructure of the old downtown area of Gunsan, including E-Mart and Lotte Mall, and it is also close to the central commercial site of Gunsan New Station Area.

Additionally, Jeil Construction plans to supply 452 units of 'Sasong New Town Jeil Punggyeongchae First Park' in Sasong New Town, Yangsan, Gyeongnam Province, this month, and Hanla plans to supply 442 units of 'Gimhae Naedeok District Hanla Vivaldi (tentative name)' in block 46 of Naedeok District, Gimhae, Gyeongnam Province, within this year.

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