Table of Contents
- Overview of Summit Limited Namcheon
- Information about Summit Limited Namcheon
- Location, Transportation and Lifestyle Infrastructure of Summit Limited Namcheon
- Interim Payment, Sale Price, Expansion Costs, Deposit of Summit Limited Namcheon
- Conclusion of Summit Limited Namcheon
- Frequently Asked Questions (FAQ)
Overview of Summit Limited Namcheon
Summit Limited Namcheon is the first apartment complex launched by Daewoo Engineering & Construction through the renewal of its high-end brand 'Summit.' This complex is located in Namcheon-dong, a traditional affluent area of Busan.
This project not only supplies new apartments but also marks a significant milestone in Busan, ushering in an era where the average sale price reaches 50 million won per 3.3㎡. It is regarded as an impactful project that sets new standards in the local real estate market.
The permanent view of the Gwangandaegyo Bridge has a unique rarity, combining it with top-tier residential product quality. It aims to provide living spaces comparable to high-end apartments in Gangnam, Seoul. The high market interest stems from this symbolism and outstanding location conditions.
Recent New Apartment Sales in Busan
Information about Summit Limited Namcheon
This project, located at 545-2 Namcheon-dong, Suyeong-gu, Busan, consists of 5 buildings with 40 floors above ground and 5 floors below ground.
It has a total of 835 units, with unit types ranging from 84㎡ to 243㎡, primarily consisting of medium to large units.
There are 1,812 parking spaces available, allowing an average of 2.17 vehicles per unit.
This project is being implemented by Cube Gwangandae PFV Co., Ltd. and constructed by Daewoo Engineering & Construction.
Summit Limited Namcheon is a medium-sized complex consisting of 835 units. Though it is not a large-scale complex, it boasts ample parking space with an average of 2.17 vehicles per unit, reflecting the status of a high-end complex. This serves as an important factor enhancing the real living satisfaction for residents who own multiple vehicles.
The exclusive area ranges from 84㎡ to 243㎡, primarily designed around medium to large units. This is interpreted as a clear strategy to maintain the luxurious image of the complex and set upper-income households as the main consumers.
The project’s implementing company is Cube Gwangandae PFV Co., Ltd., and the construction company is Daewoo Engineering & Construction. Notably, Daewoo Engineering & Construction's 'Summit' brand already enjoys high trust and preference in the market, which is expected to positively influence the successful operation of this complex.
Location, Transportation and Lifestyle Infrastructure of Summit Limited Namcheon
Summit Limited Namcheon boasts excellent accessibility when using a vehicle rather than public transportation. Thanks to its proximity to Gwangandaegyo Bridge, travel to Centum City and Haeundae is very smooth, and rapid access to all parts of Busan is possible via Hwangryeong Tunnel and Beonyeong-ro.
Although Busan Subway Line 2's Namcheon Station and Kyungsung University-Pukyong National University Station are relatively close, it requires over 10 minutes on foot, altering the actual accessibility slightly. In this sense, using a vehicle is more convenient.
Namcheon-dong is a traditional high-end residential area, ideally located for easy access to Kyungsung University, Pukyong National University commercial areas, and Gwangalli commercial areas on foot. The area is densely populated with prestigious schools such as Namcheon Elementary, Namcheon Middle, and Daeyeon High School, offering excellent educational conditions. Additionally, the academy area near Namcheon Station is also conveniently accessible. However, the distance to walk across the main road to Namcheon Elementary, which is designated for Namcheon Summit residents, may be somewhat inconvenient for households with young children. This aspect should be considered.
Interim Payment, Sale Price, Expansion Costs, Deposit of Summit Limited Namcheon
Summit Limited Namcheon in Busan has set a new standard with an average sale price of 51.91 million won per 3.3㎡. The sale price of this apartment varies depending on several factors. Specifically, the minimum price for the exclusive 84㎡ type (approximately 34 pyeong) ranges from 1.1945 billion won to a maximum of 1.6238 billion won.
Even within the same size, price discrepancies occur according to the view and can exceed 400 million won. These price fluctuations further emphasize competitiveness in the real estate market.
As the size increases to medium to large, the price significantly rises.
For an exclusive area of 142㎡ (about 57 pyeong), the price ranges from 2.221 billion won to 2.9936 billion won, while the most expensive exclusive 243㎡ (about 97 pyeong) penthouse is sold at 11.583 billion won.
As a result, a new record for apartment sale prices in Busan has been set.
Despite the high sale price, the contract terms are designed to reduce financial burdens. At the time of the contract, only 5% of the sale price is to be paid, while the 60% interim payment is entirely interest-free. Finally, the remaining 35% is to be paid upon moving in. Such terms help alleviate the burden on consumers.
Balcony expansion costs are set separately from the sale price and vary from 20 million won to 57 million won depending on the type. Therefore, it is important to create a comprehensive financial plan considering the sale price, expansion costs, and additional option costs. Notably, the interest-free interim payment condition is expected to play an important role in lowering the entry barriers caused by the high sale price.
Conclusion of Summit Limited Namcheon
Located in Namcheon-dong, Summit Limited Namcheon is a traditional affluent area where new apartment supplies have been rare. This sale is expected to be an important opportunity that further elevates the value of this area. In Busan, the sale price should go beyond mere price increases, taking into account the absolute value of the location and the potential for future growth.
By comparing prices with nearby apartment complexes, the value of the area can be understood more clearly.
First, the market prices for the 84㎡ type of nearby newly built apartments such as 'Daeyeon-dong The Beach Prugio Summit' and 'Namcheon Zai' are around 1.3 billion won. Based on this, the sale price of 'Summit Limited Namcheon' is set from the low 1.2 billion won range to the high low 1.6 billion won range, which is about 200 to 300 million won higher. This difference reflects the differences in premium views, brand value, and overwhelming community facilities.
Next, the existing luxury landmark apartment 'Yonghodong W' possesses a view of the Gwangandaegyo Bridge, and the recent transaction prices have reached 1.45 billion won. This clearly shows how the market values this view. 'Summit Limited Namcheon' sets its price by adding the recent high-end product qualities and the powerful premium of 'new construction' to this view's value.
Finally, the recently completed sale in Haeundae, 'Centum Ruel,' was conducted at around 45 million won per 3.3㎡. In contrast, the average sale price of 'Summit Limited Namcheon' stands at 51.91 million won, which represents a relatively high level compared to Centum. This reflects the traditional location of Namcheon-dong and the irreplaceable rarity of the 'permanent view of Gwangandaegyo Bridge.'
Thus, it is vital to grasp the value and characteristics of each apartment through comparisons with surrounding complexes.
In conclusion, the sale price of 'Summit Limited Namcheon' reflects a unique location and potential future value that is hard to assess through mere market price comparisons. While debates over high sale prices and uncertainties in the market certainly act as clear risk factors, investment conditions such as the 6-month transfer restriction and interest-free interim payments are attractive to investors.
Royal units with secured views are expected to command significant premiums; however, clear valuation differences with non-view units will become apparent, necessitating careful judgment. In the long term, alongside redevelopment opportunities such as the Samik Beach Town reconstitution, it is likely to establish itself as a representative landmark in Busan.
Sale Price of Summit Limited Namcheon
Based on the exclusive area of 84㎡, the sale prices range from a minimum of 1.1945 billion won to a maximum of 1.6238 billion won, while the penthouse type of 243㎡ is set at 11.5 billion won. On average, the sale price per 3.3㎡ is recorded at approximately 51.91 million won, marking a historic high in Busan.
The sale prices for each type are as follows:
- 84A (approximately 34 pyeong): Between 124.42 million won and 152.24 million won
- 84B (approximately 34 pyeong): From 119.45 million won to 162.38 million won
- 112A (approximately 45 pyeong): From 179.43 million won to 219.54 million won
- 112B (approximately 45 pyeong): From 163.19 million won to 221.85 million won
- 122A (approximately 49 pyeong): From 176.10 million won to 239.40 million won
- 142A (approximately 57 pyeong): From 220.21 million won to 299.36 million won
- 144A (approximately 58 pyeong): From 257.21 million won to 330.43 million won
- 177A (approximately 71 pyeong): From 278.32 million won to 495.80 million won
- 182A (approximately 73 pyeong): From 357.61 million won to 437.55 million won
- 182B (approximately 73 pyeong): From 346.39 million won to 423.82 million won
The prices for the penthouse types are as follows:
- 227A (approximately 91 pyeong): 945.43 million won
- 243B (approximately 97 pyeong): 1.15083 billion won
- 243C (approximately 97 pyeong): 1.14178 billion won
- 243D (approximately 97 pyeong): 1.14485 billion won
- 243E (approximately 97 pyeong): 1.07141 billion won
Such price ranges reflect the competitiveness and demand in the real estate market, further increasing investors' interest in future market changes.
Summit Limited Namcheon Balcony Expansion Costs, Additional Options
Balcony expansion costs vary by type; for the 84㎡ model, it is approximately 20 million won, while the largest 243㎡ type incurs costs of 57 million won.
Additionally, optional items include high-end German kitchen furniture (Bulthaup, Leicht, etc.), European finishing materials, Bang & Olufsen's private cinema, and individual automated safes, among various high-end items. The specific prices for these options should be confirmed in the recruitment announcement for applicants.
Finally, the installation cost for the system air conditioning may add up to between 8 million and 18 million won, depending on the type. Such costs will be significant factors to consider when purchasing a home.
Several optional items are available, and the major items and their price ranges are as follows:
The entrance middle door features a 3-fold automatic door, priced between 35 million and 37 million won. For floor finishing materials, European tiles can be used in the living room and kitchen, and wooden floors can be chosen for the bedrooms at a cost ranging from 120 million won to 200 million won.
As a specialized kitchen option, Leicht kitchen furniture and ceramic tiled walls and countertops are available, priced between 60 million and 130 million won. Installing high-end system air conditioning, Infinity, for four locations, will require 80 million won. Finally, built-in appliance options including a Miele electric oven are offered for 32 million won.
Continued
Summit Limited Namcheon Floor Plan
This floor plan is designed to maximize the view. About 88% of the units are arranged to enjoy the stunning view of the Gwangandaegyo Bridge, and some units can even enjoy sea views from the master bedroom or bathroom.
Additionally, the ceiling height of the living room is set to a maximum of 2.8m, designed to create a greater sense of openness through large windows. Medium to large units have specialized designs featuring modular kitchens and dedicated terraces.
Summit Limited Namcheon Site Plan
The complex is arranged to face south and southeast to consider bright lighting and smooth ventilation. In particular, buildings 102 and 103, which have a direct view of Gwangandaegyo Bridge, have been strategically positioned to enhance the value of the view by emphasizing spacious 70-pyeong types.
Additionally, the design minimizes interference between buildings to ensure residents' privacy and provide a pleasant living environment. This arrangement helps residents live more comfortably.
Summit Limited Namcheon Landscaping and Community
This location boasts some of the best community facilities in the country, covering an area approximately four times the legal standard.
For the first time in Busan, there will be an indoor tennis court in the complex, alongside a golf lounge with screen golf and putting greens, a hotel-like sauna, a fitness center, and a dining restaurant.
Especially, the sky lounge and guesthouse offer stunning panoramic views of Gwangandaegyo Bridge, making them highly attractive.
Summit Limited Namcheon Subscription Schedule
The recruitment announcement date for residents is scheduled for Thursday, July 31, 2025. For special supply, the start date will be Monday, August 11, 2025.
The first priority subscription will be held on Tuesday, August 12, 2025, and the second priority subscription will take place the following day on Wednesday, August 13.
Winners will be announced on Wednesday, August 20, 2025, and contracts will be conducted from Monday, September 1, 2025, to Wednesday, September 3, 2025.
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Frequently Asked Questions (FAQ)
Q. What are the features of Summit Limited Namcheon?
Summit Limited Namcheon is a high-end brand apartment by Daewoo Engineering & Construction located in Namcheon-dong, Busan, featuring a total of 835 units and a permanent view of Gwangandaegyo Bridge.
Summit Limited Namcheon is the first apartment complex launched through the renewal of Daewoo Engineering & Construction's premium brand 'Summit,' situated in Namcheon-dong, a traditional affluent area in Busan. It consists of 5 buildings with 40 floors above ground and 5 floors below ground, comprising a total of 835 units designed primarily with medium to large sizes ranging from 84㎡ to 243㎡. It uniquely possesses a permanent view of the Gwangandaegyo Bridge, ensuring high rarity and residential product quality, with abundant parking allowing an average of 2.17 vehicles per unit.
Q. What are the location and transportation conditions of Summit Limited Namcheon?
Located in a traditional affluent area of Namcheon-dong, it offers easy vehicle access to major roads such as Gwangandaegyo Bridge and is more than a 10-minute walk to subway stations.
Summit Limited Namcheon is located in Namcheon-dong, Suyeong-gu, Busan, and offers excellent accessibility between Centum City and Haeundae via Gwangandaegyo Bridge when driving. Rapid access to all parts of Busan is convenient through the Hwangryeong Tunnel and Beonyeong-ro; however, it takes more than 10 minutes on foot to reach Busan Subway Line 2's Namcheon Station and Kyungsung University-Pukyong National University Station, which might reduce the convenience of public transportation access. The vicinity also features prestigious schools and commercial areas of Kyungsung University and Pukyong National University, along with Gwangalli, ensuring a good lifestyle infrastructure.
Q. How is the sale price set and what are the price ranges for different housing types?
The average sale price is 51.91 million won per 3.3㎡, with 84㎡ priced around 1.1945 billion to 1.6238 billion won, and the 243㎡ penthouse priced at around 11.5 billion won.
Summit Limited Namcheon is set at an average sale price of 51.91 million won per 3.3㎡, marking the highest level in Busan's apartment history. The price for exclusive 84㎡ types ranges from a minimum of 1.1945 billion won to a maximum of 1.6238 billion won, with significant price variations depending on view. For medium to large sizes, prices rise, where a 142㎡ unit ranges from around 2.221 billion won to 2.9936 billion won, and the 243㎡ penthouse is priced at 11.583 billion won. While the sale prices are higher compared to surrounding complexes, they reflect the premium of brand and view.
Q. What are the contract terms and measures to alleviate financial burden?
The deposit is 5% of the sale price, the interim payment of 60% is entirely interest-free, and the remaining 35% is to be paid upon moving in.
Despite the high sale price, the contract conditions of Summit Limited Namcheon have been designed to minimize financial burdens. At the time of the contract, only 5% of the sale price needs to be paid, while the 60% interim payment offers an opportunity for complete interest-free benefits, alleviating initial financial pressures. The remaining 35% is slated to be paid upon move-in, allowing for a more scattered financial burden for purchasers. Additionally, the expansion costs and high-end options are priced separately from the sale price, necessitating a comprehensive financial plan.
Q. What features are there in the floor plans and community facilities of Summit Limited Namcheon?
Approximately 88% of units offer a view of Gwangandaegyo Bridge, with a living room ceiling height of 2.8m, and various facilities including an indoor tennis court in a large community.
Summit Limited Namcheon is designed so that approximately 88% of the units can enjoy views of Gwangandaegyo Bridge, with a maximum ceiling height of 2.8m in the living room, offering a sense of space and openness through a well-thought-out design. Medium to large units feature specialized designs including modular kitchens and dedicated terraces. The community facilities are about four times larger than the legal standard area, offering high-end amenities such as Busan’s first indoor tennis court, screen golf, sauna, fitness center, dining restaurant, sky lounge, and guesthouse, establishing it as a high-end complex.
Q. When is the subscription schedule, and what is the date for the recruitment announcement? The recruitment announcement date is July 31, 2025, and the subscription begins on August 12.
The recruitment announcement date for Summit Limited Namcheon is scheduled for Thursday, July 31, 2025. Special supply begins on August 11, 2025, with first priority subscriptions held on Tuesday, August 12, 2025, and second priority subscriptions on Wednesday, August 13. The announcement of winners is scheduled for Wednesday, August 20, 2025, and contracts will be signed from September 1 to September 3, 2025. Being aware of these schedules is important for those wishing to participate in the subscription.
