A string of complexes in regional areas with “elite school districts” set to hit the market... Will demand surge?

[Financial News] Apartments in regional housing markets that boast prestigious school districts are gaining popularity. In regional areas, prestigious schools and private academies are concentrated in a limited number of locations compared with the Seoul metropolitan area, making the scarcity of school-district neighborhoods more prominent. According to the real estate industry on the 15th, the preference for school districts is being reflected in home prices.
According to data from Real Estate R114, the average apartment sale price in Suseong-gu, Daegu, where Kyungshin High School, Gyeongbuk High School and Daegu Girls’ High School are located, was 16.75 million won per 3.3 square meters in September this year, about 41.3% higher than the citywide average of 11.85 million won. In Onui-dong, Chuncheon, Gangwon Province, where schools and private academies are concentrated, the average apartment sale price was 15.21 million won per 3.3 square meters. That is 56.4% above the average of 9.72 million won for Chuncheon as a whole.
Individual complexes show a similar pattern. According to the Actual Transaction Price Disclosure System of the Ministry of Land, Infrastructure and Transport, an 84-square-meter unit by exclusive floor area at “Chuncheon Central Tower Prugio,” in Onui-dong, Chuncheon, Gangwon Province, sold for 780 million won in July this year, more than 50 million won above its January sale price of 725 million won.
An 84-square-meter unit by exclusive floor area at “Hillstate Beomeo,” in Beomeo-dong, Suseong-gu, Daegu, sold for 1.82 billion won in August this year, up 170 million won from 1.65 billion won in December last year.
New complexes near school districts that are scheduled to come onto the market this year are also drawing increased interest. Dongbu Construction plans to offer “Namchuncheon Centerville” for sale in October in Hyoja-dong, Chuncheon, Gangwon Province. The complex will comprise 264 units, with exclusive floor areas of 59 to 84 square meters, in a building rising 39 floors above ground with six basement levels. The Namchuncheon area, where the complex will be built, is an education-and-residential district with popular schools in Chuncheon concentrated in nearby Onui-dong and Yaksadong.
IPARK Hyundai Development Company will put “Cheongju Gagyeong IPARK Complexes 7 and 8” on sale in October in Gagyeong-dong, Heungdeok-gu, Cheongju, North Chungcheong Province. The complex will comprise 1,671 units with exclusive floor areas of 84 to 116 square meters. Seohyeon Middle School, Gyeongdeok Middle School and Garosu Library are among the facilities within a radius of about 1 km, and the complex is notable for its proximity to private academies.
BS Hanyang and Taeyoung Engineering & Construction will also supply “Yeonsan Station Sujain Centrio” in Yeonsan-dong, Yeonje-gu, Busan, and “Gumi Park One Desian” in the vicinity of Doryang-dong, Gumi, North Gyeongsang Province, respectively. Yeonsan Station Sujain Centrio is in a location with Yeonseo Elementary School right in front of the complex—an “elementary school at your doorstep” setting. Gumi Park One Desian will comprise 1,355 units across 10 buildings, with exclusive floor areas of 84 to 110 square meters, rising 40 floors above ground with three basement levels.

[email protected] Kwon Jun-ho Reporter