POSCO E&C Unveils 'The Sharp Gwangyang Lake Centum' Apartments Worth 300 Million KRW in Jeonnam

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As housing prices continue to rise, discerning buyers are actively securing prime new complexes. For example, despite some controversy over the high prices, the 'Gwangmyeong Central I-Park' in Gyeonggi Province saw its 84㎡ units exceed 1.2 billion KRW and sold out completely within a month. Similarly, the 'Cheonggye Riverview Xi' in Seongdong-gu, Seoul, which recently held its subscription, started at over 900 million KRW for 59㎡ units and nearly 1.3 billion KRW for 84㎡ units, yet attracted nearly 20,000 subscription accounts and closed the first priority subscription with an average competition rate of 45.9 to 1.

According to the 'Private Apartment Sale Price Trends' report released by the Housing and Urban Guarantee Corporation (HUG) last November, the average sale price per square meter in the metropolitan area has steadily increased, reaching 6.926 million KRW per ㎡ at the end of October this year. This represents a 38.9% increase compared to five years ago (October 2018, 4.985 million KRW).

Furthermore, from next year, regulations on zero-energy building certification, which apply technologies such as high-performance insulation and renewable energy like solar power, will be expanded. Additionally, approval will become more difficult if inter-floor noise standards are not met. These factors are expected to impact construction costs, leading to continued increases in sale prices.

Industry insiders say, "Sale prices are rising due to increased material and labor costs, and price increases are inevitable next year as well," adding, "Buyers are aware that once prices rise, they rarely fall, so those looking to purchase a home will act quickly."

Meanwhile, in Gwangyang, Jeollanam-do, a new apartment complex starting from the low 300 million KRW range for 84㎡ units is being offered. 'The Sharp Gwangyang Lake Centum,' built by POSCO E&C in the Madong area of Gwangyang City, Jeollanam-do, consists of 9 buildings ranging from 3 basement floors to a maximum of 29 floors above ground, with units sized between 84 and 159㎡, totaling 925 households. It is composed of highly preferred medium-sized units.

The Sharp Gwangyang Lake Centum not only offers reasonable sale prices but also significantly reduces buyers' financial burdens by lowering the down payment to 5% and providing exceptional financial benefits such as interest-free interim payments.

The complex is located in Gwangyang City, home to POSCO Gwangyang Steelworks, Gwangyang Port, and the Gwangyang National Industrial Complex. Recently, restrictions on industries moving into the Donghoan site in Gwangyang were lifted, allowing POSCO Group to invest 4.4 trillion KRW over the next 10 years in secondary battery materials and hydrogen production lines. If executed as planned, this is expected to generate an annual production inducement effect of 3.6 trillion KRW, create approximately 9,000 jobs annually, and contribute to regional development.

In particular, 'The Sharp Gwangyang Lake Centum' is expected to directly benefit as a residential area supporting POSCO Group. The complex also boasts excellent transportation. It offers easy access to and from Gwangyang city via Jungma-ro and Jungma Jungang-ro, and quick routes to the steelworks and industrial complexes through Donggwangyang IC and the Yi Sun-sin Bridge.

Abundant living infrastructure is another advantage. The complex is close to major shopping districts such as large marts and government offices, and the Gwangyang Community Center is within walking distance. For education, Korean Creative Arts High School, which is accessible by walking, as well as elementary, middle, and high schools are nearby. Public libraries and academies are also easily accessible.

Meanwhile, the model house for The Sharp Gwangyang Lake Centum is scheduled to open on January 26.

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