Apartments near elementary schools — known in the local market as "chopo-a," or complexes that embrace an elementary school — continue to attract strong interest in South Korea's pre-sale housing market. With buyers in their 30s and 40s accounting for a large share of successful apartment subscription applicants in the Greater Seoul area, proximity to schools and safe commuting routes have become key factors in housing decisions.
According to Korea Real Estate Board data, buyers in their 30s and 40s made up 86 percent of the 7,493 people who won apartment subscriptions in the metropolitan area in the first quarter of this year — 6,497 in total. As this age group, whose home-buying years overlap with their children's schooling years, has become the core demand base in the subscription market, complexes with good elementary school access have consistently drawn attention.
Developers marketing newly supplied complexes are going beyond simply advertising proximity to a school. They now highlight whether a new elementary school is planned directly adjacent to the complex, or whether young children can walk to school on their own, as a primary selling point.
Bundang 51-to-1, Cheongju 109-to-1 — complexes near schools post strong subscription results
Complexes near elementary schools posted high subscription competition rates in this year's pre-sale market as well.
The Sharp Bundang Centro in Gumi-dong, Bundang-gu, Seongnam, Gyeonggi Province drew 2,052 applicants for 40 units in its first-priority subscription in January, recording an average competition rate of 51.3 to 1. The 60-square-meter Type A units attracted 211 applicants for just two units, pushing the rate above 105 to 1. Analysts attributed the strong demand to the complex's proximity to Gumi Elementary School, the scarcity of new-build supply in Bundang and access to Ori Station.
The Sharp Bundang Tier One, supplied in Jeongja-dong, Bundang-gu last November, drew 4,721 applicants for 47 general pre-sale units, recording a first-priority average competition rate of 100.4 to 1. Some 84-square-meter unit types saw rates climb to 169 to 1. On top of its transit-oriented location near Jeongja Station and the scarcity of new construction, the complex's educational environment was cited as a key strength.
Strong results were also seen outside the capital region. The Cheongju Technopolis Atera 2nd, launched in Heungdeok-gu, Cheongju, North Chungcheong Province last April, recorded a first-priority average competition rate of 109.66 to 1. Plans for a new elementary school near the complex were among the factors that drew interest.
Subscription competition rates are influenced by factors beyond school access, including pre-sale prices, transportation, local supply volume and whether a complex involves a redevelopment project. Educational environment is nonetheless one of the primary criteria end-users weigh when choosing a complex, according to industry officials.
Resale market also strong — Gwangyo 84-sqm unit changes hands for 1.99 billion won
The preference for complexes near elementary schools is also evident in the resale market.
An 84-square-meter unit at Gwangyo Joonghung S-Class in Gwangyo new town, Suwon, Gyeonggi Province sold for 1.68 billion won in January before changing hands again in September for 1.99 billion won ($1.46 million) — a gain of more than 300 million won in eight months. The complex is surrounded by Gwangyo Lake Elementary School and Sinpung Elementary School, among others.
An 84-square-meter unit at Seoul Sup Prugio in Geumho-dong, Seongdong-gu, Seoul set a new record high in August, selling for 2.46 billion won. Oksu Elementary School is located nearby.
Households with young children tend to consider more than just the distance to school when choosing a home — they also look at whether the route requires crossing a major road or passing through areas with heavy vehicle traffic. Because elementary school students are younger than middle and high school students, demand for school accessibility and commuting safety tends to be higher.
Living close to a school makes it easier for children to travel independently and reduces time spent on the daily commute. The growing number of dual-income households is also cited as a factor driving interest in apartments near elementary schools.
New pre-sales set for October, including complexes with planned elementary schools next door
New pre-sale launches highlighting school access are set to continue in October.
HL D&I Halla will launch pre-sales for Sinbunpyeong Epitt The Way City in Block A2 of the Sinbunpyeong urban development zone in Jangseong-dong, Seowon-gu, Cheongju, North Chungcheong Province. The complex will comprise 992 units across 10 buildings ranging from two basement floors to 29 above-ground floors, with exclusive use areas of 59 to 112 square meters.
A new elementary school — tentatively named Jangseong Elementary School — is being developed adjacent to the complex, with a target opening of September 2029. The Sinbunpyeong district is set to include a total of 3,948 residential units, along with parks, schools and commercial facilities. The complex also plans to operate an education program through Jongno M School.
In Cheongna-dong, Seo-gu, Incheon, Daewoo Engineering & Construction will supply Cheongna Arc One Prugio, comprising 868 apartment units and 987 officetel units. A new elementary school is planned near the site, and Gyeongyeon Elementary and Middle School is within walking distance. The official pre-sale website notes that a new elementary school is planned approximately five minutes on foot from the complex.
In Ssangnyeong-dong, Gwangju, Gyeonggi Province, Lotte Engineering & Construction plans to launch pre-sales in October for Gyeonggi Gwangju Station Lotte Castle Signature Block 2. The complex will consist of 1,249 units across 10 buildings ranging from 10 basement floors to a maximum of 26 above-ground floors, with Gwangju Pureun Elementary School located nearby. Lotte E&C is currently listing October as the pre-sale launch period on its official website.
Industry officials expect interest in complexes with strong elementary school access and safe commuting environments to remain steady, given the high proportion of end-users in their 30s and 40s. In new towns and urban development districts — where new housing supply and school construction proceed together — the placement of educational facilities is increasingly cited as one of the key location factors driving subscription demand.
rainbow@heraldcorp.com
