Sale Price 'Around 500 Million Won'... Doosan We’ve The Zenith Ocean City Contract Rate Soars

Own Your Home with Up to 30 Million KRW Until Move-In
Positive Factors Including 2030 Busan World Expo
Reasonable Sale Price Around 17 Million KRW per Pyeong

Despite initial sluggishness, Doosan We’ve The Zenith Ocean City has recently seen a sharp rise in contract rates, dispelling concerns about unsold units. Due to soaring construction costs and interest rate hikes, the remaining units of Doosan We’ve The Zenith Ocean City, priced at around 17 million KRW per pyeong, are being rapidly sold out. If this trend continues, a 'complete sell-out' is expected.

This complex is being redeveloped through the Uam 2 District redevelopment project into a scale of 3,048 households across 29 buildings, ranging from 5 basement floors to a maximum of 34 floors above ground, with exclusive areas of 59 to 84m². The number of units by type is ▲59m²A 37 units, ▲59m²B 305 units, ▲75m²A 393 units, ▲75m²B 381 units, ▲75m²C 203 units, ▲84m²A 494 units, and ▲84m²B 220 units.

Recently, contract conditions were changed to reduce the initial financial burden. Interest-free interim payments, free provision of system air conditioners when expanding balconies, and a safe guarantee system for sales conditions were introduced, along with lowering the apartment deposit from 10% to 5% of the sale price. As a result, prospective buyers can secure a home by paying up to around 30 million KRW until move-in.

The complex is currently accepting contracts on a first-come, first-served basis. Anyone aged 19 or older can sign a contract regardless of their residence area, and without using a subscription savings account, they can select their preferred building and unit number from the remaining units in order. Additionally, for types 59B, 75A·B·C, and 84B, these units are not counted as housing when sold, and resale of all types’ sale rights will be allowed starting from October.

Rich Future Value with Various Benefits Including Bukhang Redevelopment Project... Formation of a New Residential Town with Over 12,000 Households in Nam-gu, Busan

Doosan We’ve The Zenith Ocean City is evaluated as a place with abundant future value due to various benefits. First, it is considered a beneficiary area of the 2030 World Expo, whose host city announcement is scheduled for November. If the Busan World Expo is hosted, various exhibition halls and cultural facilities will be built on approximately 3.43 million m² around Bukhang. The industry expects over 40 million visitors worldwide and an economic effect of 61 trillion KRW from the expo.

The Bukhang redevelopment project is also expected to act as a positive factor. The Bukhang redevelopment project, whose infrastructure construction was completed at the end of last year, is a project to develop a 3.1 million m² port reclamation site, equivalent in size to Yeouido in Seoul, into a cutting-edge complex.

Nam-gu, Busan, where the complex is located, is undergoing many redevelopment projects, bringing winds of change. Currently, 27 redevelopment projects involving about 35,000 households are underway in Nam-gu, and especially the Uam and Daeyeon redevelopment districts surrounding Uryongsan Park will form a new residential town of about 12,000 households once projects including Doosan We’ve The Zenith Ocean City are completed.

Kim Hak-ryeol, director of Smart Tube, explained, "Investment demand exists in places with many development benefits and increasing jobs and population, especially where prices are reasonable, so this is possible."

Reasonable Sale Prices 200 to 300 Million KRW Cheaper than Other Complexes... "Sale Prices Will Rise Further"

Reasonable sale prices are also helping to reduce unsold units. ‘Prugio The One’, supplied in Haeundae-gu, Busan in March, had a highest sale price exceeding 900 million KRW for an 84m² unit, and ‘Lotte Castle Infitial’ supplied in Nam-gu had a highest sale price of 796.2 million KRW for an 84m² unit. Also, the sale price of Daeyeon DIEL, scheduled for June near the project site, is around 750 million KRW for an 84m² unit. Doosan We’ve The Zenith’s 84m² units are priced in the 500 million KRW range.

The rising trend of apartment sale prices in Busan is confirmed by statistics. According to the Housing and Urban Guarantee Corporation (HUG), as of the end of April, the nationwide private apartment sale price was 15.9852 million KRW per 3.3m², which is a 9.62% increase compared to the same month last year. This year, prices rose from 15.6024 million KRW in February to 15.8565 million KRW in March, marking two consecutive months of increase. Especially in Busan, prices rose 14.6% during the same period, significantly exceeding the average increase rate.

An industry official said, "Every time the sale prices of other complexes in Busan are announced, the 500 million KRW range sale price for 84m² units in this project stands out more," adding, "Since the contract condition changes, visitors have formed long lines, and units are selling out faster than expected, so a complete sell-out is anticipated soon."

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