[2022 Apartment Brand Awards] How Does This Space Become Art?

[Asia Economy Reporter Kim Min-young] There is a hidden secret behind apartments preferred by consumers: the brand. Construction companies put great effort into design, quality, and location to enhance the value of their apartment brands. Naturally, the product competitiveness is excellent. Brand apartments with such competitiveness not only achieve first-priority subscription closures amid fierce competition in the subscription market but also play a leading role in driving local market prices.

Despite the overall slump in the sales market, the popularity of brand apartments remains strong. Although competition rates have decreased, contracts are proceeding with brand power at the forefront. According to the Korea Real Estate Board’s Subscription Home, last year, among the top 10 construction companies’ brand apartments in provincial small and medium-sized cities (excluding the metropolitan area and provincial metropolitan cities), there were a total of 40 complexes, with an average first-priority subscription competition rate of 30.10 to 1. Considering that the first-priority competition rate for 136 complexes excluding these was 9.48 to 1, it is three times higher.

The trend of preferring brand apartments is expected to continue this year as well. This is because many actual buyers consider the brand a key factor in increasing apartment value in the metropolitan area and provinces. According to a survey conducted by real estate information company Zigbang in March on 1,143 users of its application, 87.4% of all respondents answered that apartment brands influence apartment value (price). Responses of ‘average’ accounted for 8.0%, and ‘no influence’ was only 4.6%, indicating that nearly 90% of respondents believe apartment brands affect value (price).

Construction companies are also making continuous efforts to enhance their brand value. Including Booyoung Group’s ‘Sarangro,’ which was selected as the comprehensive grand prize winner, companies chosen for this year’s Asia Economy Apartment Brand Awards are recognized for their value in the fierce subscription market by leveraging differentiated brand strategies.

By category, the selections were: △Power Brand category - DL E&C’s ‘e-Pyeonhansesang,’ GS Construction’s ‘Xi,’ Hanwha Construction’s ‘Forena,’ Daewoo Construction’s ‘Prugio’ △Remodeling category - Ssangyong Construction’s ‘The Platinum’ △High-end Design category - Lotte Construction’s ‘Lotte Castle,’ Shindongah Construction’s ‘Familie,’ SK Ecoplant’s ‘SK View’ △Complex Residential category - Hyundai Construction’s ‘Hillstate,’ HDC Hyundai Development Company’s ‘IPARK,’ Doosan Construction’s ‘We’ve’ △Smart Home category - HJ Heavy Industries’ ‘Haemoro’ △Special Residence category - POSCO Construction’s ‘The Sharp.’

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