The last sold-type silver town, Yongin 'Spring County JAI,' is recording all-time highs in sales prices. It appears to be the last silver town in the metropolitan area that can practically be registered, attracting demand from those aged 60 and older.
According to the Ministry of Land, Infrastructure and Transport's real transaction disclosure system on the 15th, a 59.86-square-meter unit in Spring County JAI located at 1147 Dongbaekjukjeon-daero, Giheung-gu, Yongin City, was contracted for sale at 740 million won on the 21st of last month (5th floor). This unit was also sold for 810 million won (16th floor) on March 12.
Additionally, a 60-square-meter unit (6th floor) was sold for 810 million won on April 12. Four transactions took place only in April. Other unit types were also traded at high prices. A 74.32-square-meter unit was sold for 830 million won (6th floor) on March 4. This unit was also sold for 870 million won (10th floor) on February 25. The highest price for the largest unit, 74.32 square meters, was 948 million won last October.
Spring County JAI has seen 20 sales contracts signed this year alone. Most unit types reached record prices. Compared to other apartments in the Yongin Dongbaek district, the prices are significantly higher. For the 'Yongin Dongbaek Dosan Weave the Zenith' located in the same Dongbaek district, a 92-square-meter unit was traded for 595 million won and 600 million won last month. This apartment, completed in 2021, is a large complex consisting of 1,187 units.
The market notes that Spring County is essentially the last sold-type silver town. Completed in October 2019, this apartment consists of 1,345 units. It was approved for business before the 'Elderly Welfare Act' was revised in 2015 and was developed entirely as sold-type. Only those aged 60 and above are permitted to reside. In the case of rental-type silver towns, there can be incidents where deposits are lost if the operating company's financial situation is difficult. However, with sold-type, one can register ownership of an apartment. This apartment possesses a high land ownership ratio, and the land rights for the nearby Myokjosa Mountain are also owned by residents, which is evaluated as having decent investment value alongside actual residency.
Furthermore, this place is being operated and managed at a high level. SC Corporation is responsible for the operation, while GS Engineering and Construction's subsidiary S&D manages the facilities overall. The cafeteria is also operated by GS Engineering and Construction's subsidiary GCS.
A representative from SC Corporation, which manages Spring County, noted, "Transactions are conducted through surrounding real estate agencies, but monthly entries and exits show that transactions are quite active. Inquiries about move-ins are also steadily coming in."