Popularity of Large Apartment Complexes, The Sharp Tangjeong Infinity City Phase 2 to be Launched This Month

by Jung Jin

Published 08 Apr.2024 16:25(KST)

[The Sharp Tangjeong Infinity City Phase 2 Perspective]

The popularity of large-scale apartment complexes with solid stability based on a large number of households continues.

In the real estate market, large-scale apartment complexes are considered popular products with steady demand regardless of market downturns. They are equipped with auxiliary facilities, landscaping, and services befitting their large scale, and are mainly constructed by major construction companies, attracting high interest from buyers.

Additionally, large-scale apartment complexes have many households and high preference, resulting in active transactions. According to actual transaction data from the Ministry of Land, Infrastructure and Transport, among the top 10 apartment complexes nationwide in terms of sales volume in the first quarter of this year, seven complexes were large-scale apartments with over 1,000 households.

Large-scale complexes also receive high attention in the pre-sale market. In fact, among apartments pre-sold in the first half of this year, the average subscription competition rate for large-scale complexes with over 1,000 households was 12.68 to 1, whereas complexes with fewer than 1,000 households had an average competition rate of only 3.01 to 1.

In this year’s pre-sale market, many subscription accounts poured into large-scale apartment complexes. ‘The Sharp Tangjeong Infinity City,’ a first-tier brand large-scale complex with 1,140 households pre-sold in January, recorded an average first-priority competition rate of 52.5 to 1. ‘Seoshin The Sharp Vivaldi,’ another large-scale complex with 1,914 households pre-sold in February, also recorded an average first-priority subscription competition rate of 55.59 to 1.

Moreover, when two or more large-scale complexes of the same brand come together to form a brand town, it is even better. As a large residential complex is formed, living infrastructure such as education and convenience facilities is well established nearby, resulting in high residential satisfaction. The trust and safety margin expectations built by previously supplied brand complexes also lead to higher evaluations in the real estate market. Especially when a dense brand town is formed, it is recognized as a single large complex, becoming a regional landmark and positively influencing housing price increases.

An industry insider said, "Large-scale apartment complexes have many households, so transaction volumes are high, and active turnover creates a virtuous cycle that attracts buyers’ interest because it is advantageous for price increases and sales. Especially when large-scale complexes come together to form a brand town, they are practically recognized as a single complex, which further increases their value."

This month, POSCO E&C plans to pre-sell ‘The Sharp Tangjeong Infinity City Phase 2,’ a large-scale complex with 1,214 households. This complex is located in Block 3 of the Asan Tangjeong District urban development zone and will be developed with 9 buildings ranging from 2 basement floors to a maximum of 35 floors above ground, with exclusive areas of 70 to 84㎡, totaling 1,214 households. Together with the Phase 1 complex ‘The Sharp Tangjeong Infinity City,’ a brand town with a total of 2,354 households will be formed.

The Asan Tangjeong District urban development zone, where ‘The Sharp Tangjeong Infinity City Phase 2’ will be located, covers the Galsan-ri and Maegok-ri areas, with approximately 536,900㎡ of land. It will develop a residential area of about 4,300 households, including the 3rd and 4th block Sharp brand town (2,354 households), along with urban infrastructure such as schools, green spaces, and public offices for residents. In particular, a pedestrian bridge is planned to be newly constructed on the southern side of the urban development zone, which is expected to improve accessibility to Tangjeong Station.

The location conditions are also excellent. Within the Asan Tangjeong District urban development zone, kindergartens, Tangjeong 8 Elementary School (scheduled for March 2027, tentative name), and middle schools will all be established, making it a ‘Hakpum-a (school-embraced apartment)’ highly valued for education. The nearby academy district around Tangjeong Station and the Buldang-dong academy district are conveniently accessible via Isunsin-daero.

In addition to excellent residential conditions, the application of The Sharp brand boasts high product completeness. The complex’s building-to-land ratio is 12.86%, and with wide distances between buildings, various landscaping spaces will be created to enhance comfort. The internal design features a south-facing 4Bay slab-type cross-ventilation structure for all households, maximizing natural light and ventilation. Furthermore, ample parking space of 1.32 spaces per household (1,603 spaces for apartments) will be secured to minimize parking issues for residents.

The model house for The Sharp Tangjeong Infinity City Phase 2 is located in Baebang-eup, Asan-si, Chungcheongnam-do.