Even Within the Same Lake Area, Market Prices Vary by 'View'... Value of View Rights Comes Into Focus

[Financial News] Views have emerged as a key factor determining housing prices in the apartment market. Even within the same lake-park area, prices can differ by hundreds of thousands of won per 3.3 square meters depending on the distance from the park and the scope of the view. In some areas, apartments with lake views are also commanding higher prices than station-area complexes.
According to industry sources on the 2nd, Dongtan Linstrauss The Lake, located directly in front of Dongtan Lake Park in Hwaseong, Gyeonggi Province, has recently recorded a market price of about 37.52 million won per 3.3 square meters based on the past month. The complex borders Dongtan Lake Park, and some buildings offer unobstructed lake views.
By contrast, Dongtan 2 New Town The Lake is also located within the Dongtan Lake Park area, and some units offer views, but it is relatively farther from the lake. Its market price stands at around 33.73 million won per 3.3 square meters. Despite having similar locational conditions, the difference in views translates into a price gap of 3.79 million won per 3.3 square meters.
A similar trend has emerged in Jeonju Eco City. Presale rights for Eco City The Sharp 4th, which is directly adjacent to Sebyeong Lake, the central waterfront space in Eco City, and offers excellent views, are being offered at around 25 million won per 3.3 square meters. Eco City Desian Block 14 is priced at approximately 19.85 million won.
However, Eco City Desian Block 5 and Eco City Desian 2nd, Block 7 are relatively farther from Sebyeong Lake, limiting their views. Their prices are comparatively lower, at around 17.35 million won and 17.14 million won per 3.3 square meters, respectively.
There are also cases in which lake-view complexes command higher prices than station-area properties. In Gwanggyo New Town, Gwanggyo Jungheung S-Class, which offers views of Woncheon Lake, is priced at around 54.62 million won per 3.3 square meters. By comparison, e-Pyeonhansesang Gwanggyo, a large station-area complex within a four-minute walk of Gwanggyo Jungang Station on the Shinbundang Line, is priced at approximately 47.93 million won per 3.3 square meters.
Industry sources say that as demand for pleasant residential environments grows, a home's value is increasingly differentiated not simply by its proximity to a park, but by whether residents can actually enjoy a view and how far their sightlines extend.
An industry official said, "As more homebuyers prioritize work-life balance and seek pleasant residential environments, the value of complexes near lake parks—where residents can experience the changing seasons through their living-room windows—has continued to rise. In particular, even within the same lake area, complexes with unobstructed sightlines and panoramic views often establish themselves as local landmarks that lead market prices."
Against this backdrop, new complexes marketed for their lake views will be launched in the second-half presale market.
POSCO E&C plans to launch sales this month in the Buseong 2 Urban Development District in Budae-dong, Seobuk-gu, Cheonan, South Chungcheong Province. Some 84-square-meter and 118-square-meter exclusive-use units have been designed to offer views of Seongseong Lake Park.
In Okjeong New Town in Yangju, Gyeonggi Province, Daebang Construction will supply Okjeong Jungang Station D’Etr II this month. Okjeong Lake Park is located east of the complex, and some units offer views of the lake park. Samhwan, an affiliate of SM Group's construction division, is currently selling Hwaseo Station Lake Park Honorsville in Suwon, Gyeonggi Province.

[email protected] Choi A-young Reporter