"Large Complexes Are the Answer"... Home Prices Rise More Than Three Times as Much as in Small Complexes

[Financial News] Home prices in large-scale complexes rose by more than three times as much as those in small-scale complexes. The trend of buyers favoring large complexes is expected to intensify further, driven by their extensive community facilities and greater potential for reducing maintenance fees.
According to data from Real Estate R114 on the 21st, the average sale price per 3.3 square meters in complexes with at least 1,500 households stood at 30.59 million won as of August this year, up about 2.77 million won from 27.82 million won during the same period last year. For an 84-square-meter unit, this amounted to an increase of about 94.18 million won in one year. By contrast, complexes with fewer than 300 households rose by just 900,000 won over the same period, creating a more than threefold gap in price increases based on complex size.
Complex size and price increases showed a direct correlation. By size category, prices rose by 900,000 won for complexes with fewer than 300 households, 1.09 million won for those with 300 to 499 households, 1.34 million won for those with 500 to 699 households, 1.54 million won for those with 700 to 999 households, 1.90 million won for those with 1,000 to 1,499 households, and 2.77 million won for those with at least 1,500 households. The larger the complex, the greater the increase.
The same trend was also evident in the housing subscription market. An average of 2,308 people submitted first-priority applications for each of the 40 large complexes with at least 1,000 households offered nationwide this year. By contrast, an average of 1,691 people applied for complexes with fewer than 1,000 households, covering 135 complexes. Excluding some ultra-high-priced complexes offered in Seoul, the gap in subscription competition rates between large and small complexes widens to more than twofold.
Although demand is growing, the supply of large complexes is instead declining. A total of 38,314 units in complexes with at least 1,500 households are scheduled for move-in nationwide by the end of this year, down about 42% from the previous year. Complexes with 1,000 to 1,499 households are also continuing to decline. By contrast, the decrease in the supply of small complexes has remained at 20% to 30%, making them even scarcer.
Against this backdrop, buyers are turning their attention to major large-scale complexes scheduled to be offered later this year. TAEYOUNG Engineering & Construction plans to offer Gumi Park One Desian for sale in November in the Doryang-dong area of Gumi City, North Gyeongsang Province. The 1,355-household complex will feature differentiated community facilities, including an indoor gymnasium and a private cinema, along with a pleasant environment created through a private park-special project.
POSCO E&C will offer Akmer Dongtan for sale in October in Dongtan New Town. The 1,808-household complex will provide 1.5 parking spaces per household and a ceiling height of 2.5 meters. It will also feature high-end design developed in collaboration with global designers.
POSCO E&C will also offer The Sharp Cheonan Lac One for sale in October in the Buseong 2 Urban Development District in Cheonan, South Chungcheong Province. The complex offers strong proximity between homes and workplaces, with easy access to industrial complexes.
GS Engineering & Construction plans to offer Armuze Xi in the second half of the year in Seongpo-dong, Sangnok-gu, Ansan-si, Gyeonggi Province. The development will comprise 984 apartment units and 370 officetel units.

[email protected] Jeon Min-kyung Reporter