Ecosystem Service Complex 'Suncheon Grand Park Xi' Scheduled for Sale This Month

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The first quarter of this year’s housing market was dominated by complexes offering ‘ecosystem services.’ Consumers are increasingly choosing these developments as they provide large green spaces akin to having a garden right outside their homes, and residents have experienced reductions in fine dust and urban heat island effects through these green areas. Particularly, new apartments near representative green spaces in various regions and the metropolitan area are attracting significant attention.

‘Ecosystem service’ refers to the benefits that natural environments and healthy ecosystems provide to humans. This concept, popularized since the early 2000s, encompasses all services provided by green ecosystems, including climate regulation, disease control, and ecotourism.

According to data from the Korea Real Estate Board’s Subscription Home, among 13 complexes that recorded a first-priority subscription competition rate of 10:1 or higher this year, 10 complexes (77% of the total) highlighted green premiums such as large urban parks and golf courses.

‘The Sharp Dunchon Foret,’ supplied in March in Gangdong-gu, Seoul, was a huge success with an average first-priority competition rate of 93:1. It boasts excellent accessibility to Iljasan Urban Natural Park, which spans approximately 630,000㎡. There was also a case where a ‘solo apartment,’ generally avoided in the market, was popularized by the large green premium. ‘SI Palace Olympic Park,’ supplied near Olympic Park in March this year, recorded an average first-priority competition rate of 10:1.

An industry insider explained, “Since the mid-2010s, ecosystem services have been steadily gaining attention in the domestic housing market in the form of forest and park proximity. Especially, large urban parks within cities are reflected in housing prices as tangible and intangible premiums, making them more popular.”

In fact, ‘ecosystem service’ complexes are also leading local market prices. According to the real estate proptech app Hogangnono, the main unit type of ‘Acro Seoul Forest,’ which adjoins Seoul Forest spanning about 480,000㎡, with an exclusive area of 159㎡, is priced at 108.33 million KRW per 3.3㎡, more than twice the average of Seongdong-gu (49.62 million KRW), known as an affluent area.

In the provinces, the ‘Eco City’ area within Jeonju, Jeollabuk-do, including Sebyeong Park, has emerged as a local affluent district. The market price in Songcheon-dong 2-ga, where Eco City is located, is 11.69 million KRW per 3.3㎡, about 44% higher than the Deokjin-gu average (8.07 million KRW). Competition among construction companies is also fierce. Around Busan Citizens Park, a large urban park representing Busan, intense bidding wars among top-tier brand construction companies took place earlier this year.

As interest in the green premium of ecosystem service complexes grows, many developments embracing large green spaces are scheduled for supply, attracting the attention of waiting demand. Sales are set to continue in the first half of the year in Suncheon, Jeonju, Yongin, and Busan.

First, near Suncheonman National Garden, ‘Suncheon Grand Park Xi’ is planned for sale in June. It consists of 997 households with exclusive areas ranging from 84 to 206㎡. This is the first Xi apartment introduced in Suncheon, with meticulous attention to product composition. All units are primarily south-facing and arranged in 4-bay and 5-bay layouts to maximize natural light. Wide distances between buildings ensure residents’ privacy and unobstructed views. Each type is designed with features such as pantries and dressing rooms to use indoor space efficiently. Additionally, two 206㎡ penthouse units will be offered on the top floors.

A sales official stated, “Demanders who have been waiting for apartment complexes around Suncheonman National Garden are showing high interest even before the sale. We will do our best to create an apartment complex with excellent product quality by applying specialized designs and systems to enhance resident satisfaction and providing diverse community facilities.”

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