I went to Gwangalli and Bukhang Port.
After the decision to proceed with the 99th floor of Samik Beach
The actual trading price won 100 million, raising expectations
Mullach Blanc sales on the 69th floor are also going smoothly.
There are concerns that “we can’t cover our share”
Samik Beach Town located in Namcheon-dong, Suyeong-gu, Busan. Reporter Wi Ji-hye
“When it comes to high-rise apartments, there are a lot of them near Haeundae. 40 years ago, when we started in real estate, this was a rich field. Isn’t it about getting your reputation back? Everyone is looking forward to it” (Verified real estate agency near Samik Beach Town Apartments in Busan)
Although it had been less than a month since the plan to build a 99-story apartment building in Samik Beach Village (Namcheon District 2), located in Namcheon-dong, Suyeong-gu, Busan, I visited on the 7th, the area. the building was buzzing with anticipation of rebuilding. Namcheon District 2 has been selected as the target site for the ‘Special Building Zone Revitalization Pilot Project’, and the plan to build 4 floors underground and 99 floors above ground, 6 buildings, and 3,700 homes is on plan approval get project implementation. True to its reputation as ‘Busan’s Eunma Apartment’, the architectural design will be handled by French architect Dominique Perrault, who designed the French National Library and the Berlin Olympic Velodrome in Germany.
The sale price of Samik Beach Town has been rising since last July, when it was selected as a projected site for Busan City’s Special Architectural Zone Revitalization Project. According to the trading price publication system of the Ministry of Land, Infrastructure and Transport, a special 84㎡ unit was traded for an average of 1.01 billion won in January this year, but the selling price rose to 1.05 billion a it was won in August. In October, when the ’99th floor plan’ was revealed, the average sales price jumped to 1.1575 billion won. Samik Beach Town, which had stalled due to the real estate downturn, is bouncing back by enjoying a ‘rebuilding boom’.
The ‘Beachline high-rise residential zone’, which was located in Haeundae-gu, Busan, spreads and consolidates near Gwangalli and North Port. Samik Beach Town, right in front of Gwangan Bridge in Busan, has prepared a plan for a 99-story apartment building. ‘Blanc Summit 74’, a North Port ocean view apartment located in Beomil-dong, Dong-gu, consists of 3 buildings from 5 floors underground to 69 floors above ground, and is currently up to 75% off sale. ‘Leel River Park Centum’, an apartment building with 6 floors underground and 67 floors above ground, built in the Centum district of Haeundae, Busan, held a groundbreaking ceremony recently. High-rise apartments are being built from Centum City, the traditional high-rise residential belt, to the North Port area, which is set to be redeveloped.
The Haeundae real estate industry seems to be carefully monitoring the expansion of the ‘Beachline high-rise residential zone’. “Haeundae is the ‘Gangnam of Busan,'” said real estate agent B near LCT in Middle East Haeundae “Even if high-rise apartments are built in other areas, the change in demand (for Haeundae apartments) big,” he predicted.
In Busan, where the market is stagnant due to a backlog of unsold properties, the reason there is a craze for high-rise buildings is because the price of the ocean view in the Haeundae area is significant. According to the actual trading price disclosure system of the Ministry of Land, Infrastructure and Transport, a special 185㎡ (about 75 pyeong) of ‘Haeundae L City The Sharp (up to the 101st floor)’ in Haeundae Middle East was trade for 4.9 billion won. (46th floor) last August, and is being traded in Busan this year. Certified real estate agency C, which is located near Jungdong Station, said, “As apartment prices in Seoul rise, apartment sales in the Haeundae area have stalled,” and “Ocean view prime apartments are strong even in decline
![Interior of 'Blanc Summit 74' model home in Beomil-dong, Dong-gu, Busan [사진=위지혜 기자]](https://i0.wp.com/pimg.mk.co.kr/news/cms/202411/17/news-p.v1.20241111.947cd81b1da64bbf82602827aee9fc3b_P1.jpg?w=900&ssl=1)
news/cms/202411/17/news-p.v1.20241111.947cd81b1da64bbf82602827aee9fc3b_R.jpg" data-width="1600" data-height="655" /> enlarge picture Interior of ‘Blanc Summit 74’ model home in Beomil-dong, Dong-gu, Busan [사진=위지혜 기자]
However, there are concerns from some quarters. It is noted that, in the case of rebuilt apartments, the cost is expected to be high and the feasibility of the project is low. The 99-story apartment plan for ‘Samik Beach Town’ in Namcheon-dong is currently facing opposition from residents due to expected cost overruns. Mr. Busan even wants to provide public facilities, reconstruction should not be done. “
Namcheon District 2 Reconstruction and Conservation Project Association Bamnyeon explained, “It’s too early to talk about the donation when only a bird’s eye view has been released,” and added, “After estimating the exact donation based on the internal plan, we will hold a general meeting as early as December and tell the union members.”
The youth population in Busan is declining, and there are concerns that too many apartments may be built by building high-rise apartments. According to the Korea Employment Information Service, Busan’s youth population (ages 15 to 29) decreased the fastest in the country, from 6.69% in 2014 to 5.95% last year. The youth employment rate also decreased by 0.57%p compared to 10 years ago. On the other hand, the proportion of the population aged 65 or over was 23%, making it the only metropolitan city to become an old age society. As the number of jobs decreases and the supply of apartments increases, there are even predictions that Busan could be reduced to a bedroom city.
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2024-11-17 13:20:00
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What makes ocean-view apartments in Haeundae more desirable compared to similar properties in other Busan neighborhoods?
What are some of the key factors contributing to the high demand for ocean-view apartments in Haeundae, Busan, compared to other areas of the city?
How has the recent announcement of the ‘Beachline high-rise residential zone’ affected the real estate market in Haeundae and surrounding areas, and what are some challenges that come with this expansion?
What are some concerns raised by residents and industry experts regarding the planned 99-story apartment building in Samik Beach Town? How does the cost of rebuilding and potential impact on infrastructure factor into these concerns?
As Busan faces a declining youth population and aging society, what are some potential implications for its real estate market and overall economy? Are there alternative solutions to address these demographic challenges beyond focusing on high-rise apartment development?
