The first half sale scheduled for the 'Syangyong The Platinum Seomyeon' in Bujeon-dong / Announcement of approval for changes in housing construction project plan (3rd)
- Located at 677 Bujeon-dong, Busanjin-gu
The 'Syangyong The Platinum Seomyeon' mixed-use redevelopment project underway at 677 Bujeon-dong, Busanjin-gu is expected to begin sales soon. This project will consist of 432 apartment units and 36 officetel units, rising from the underground 5th floor to the 48th floor, for a total of 468 units.
The apartments will have a dedicated area of 84㎡, with 252 units of type 84㎡A, 90 units of type 84㎡B, and 90 units of type 84㎡C. The officetels will also be 84㎡ in size, with 36 units planned. This project is anticipated to further enhance the residential environment in the area.
This project, managed by Syangyong Construction Co., Ltd., received approval for its housing construction project plan in February 2023. The sale is scheduled for the first half of 2025, having been delayed from the initially targeted years of 2021 and 2022. Ultimately, sales are expected to begin in 2025.
The location conditions are outstanding. This site is situated right next to Buam Station, which is near the Busan Subway Line 2, and just one stop away from Seomyeon Station (Lines 1 and 2), making access to the city center excellent. Moreover, Bujeon Station, which serves KTX and Donghae Line, is nearby, ensuring convenient transportation.
Green spaces like Busan Citizen Park and Palgeumsan are also nearby, providing a pleasant residential environment. These factors play a significant role in enhancing the quality of life.
The educational environment in this area is excellent. Nearby, there are elementary schools, middle schools, and high schools, and across the street, the Busan Global Village and Busan Mathematics Cultural Center are in operation. In addition, Seomyeon area has a concentration of various private educational institutes and language schools, providing a conducive learning environment.
Potential developments in this area include the Beomecheon Railroad Vehicle Maintenance Division site development project. The city of Busan is planning to transform this site into a 4th Industrial Hub that harmonizes job creation, housing, culture, and tourism, which is expected to increase the future value of the area. Furthermore, being in the Seomyeon living zone adds the great advantage of easy access to shopping, dining, and cultural activities, providing an even richer life for local residents.
Looking at the price trends of the surrounding apartments, the selling price of 'Seomyeon Lotte Castle Elucy' for a unit with a dedicated area of 84㎡ ranges from approximately 630 million to 680 million won.
Moreover, the nearby 'Seomyeon e-Pyeonhan Seong' apartment with a dedicated area of 106㎡ has a selling price of about 440 million to 500 million won.
While there are variations in the prices of surrounding apartments by area, they show a relatively stable trend overall.
Currently, the sale market in Busan is slightly depressed, so care must be taken in setting the sale prices. If unrealistic prices are set, there is a high likelihood of many unsold units. Thus, it is judged that a reasonable pricing strategy, along with emphasizing good location conditions and various amenities, will be necessary.
Announcement No. 2025-40 by Busanjin-gu, Busan Metropolitan City
Announcement of approval for changes in housing construction project plan (3rd)
Concerning the application for approval of changes in the housing construction project plan at 677 Bujeon-dong, Busanjin-gu, Busan Metropolitan City, it has been approved according to Article 15(4) of the Housing Act, and notified as below, in accordance with the provisions of Article 15(6) of the same law.
March 7, 2025
The Mayor of Busanjin-gu, Busan Metropolitan City
1. Project Name: Mixed-use construction project at 677 Bujeon-dong
2. Project Entity
a. Name: Hana Asset Trust Co., Ltd.
b. Address: 15th Floor, 127 Teheran-ro, Gangnam-gu, Seoul
3. Location and Scale of Project Implementation (Changes)
a. Location: 677 Bujeon-dong and 63 other parcels, Busanjin-gu, Busan Metropolitan City
b. Land area: 4,963.1523㎡
c. Building area: 2,571.5519㎡
d. Total floor area: 75,811.1459㎡
e. Project scale: 5 underground floors / 48 above ground floors, 5 buildings, multi-family housing (432 apartment units), office facilities (36 officetel units), and ancillary facilities
4. Project Implementation Period (Changes): March 18, 2025 ~ March 31, 2029
5. Main Changes:
- Building area (increase 174.6082㎡), total floor area (increase 681.2746㎡)
- Common area per unit (expanded)
- Changes to roof structures, plans for installing ancillary facilities, changes to the project period, etc.
6. Matters deemed approved according to Article 19(1) of the Housing Act
a. Changes to permits and notifications according to Article 16 of the Building Act
Item
Announcement
Agency Classification
District
Agency
Busanjin-gu
Announcement/Notice Number
No. 2025-40
Title
Announcement of approval for changes in housing construction project plan (3rd)
Date
2025-03-12
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