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Yeonsan Hanulchae El Centro / Notice of Completion Approval and Construction Completion of the Small-Scale Reconstruction Project of Yeonsan Apartment in Yeonsan-dong
- Yeonsan-dong 588-1, Yeonje-gu
The small-scale reconstruction project of the New Yeonsan Apartment located at 588-1, Yeonsan-dong, Yeonje-gu, Busan has finally obtained completion approval and the construction completion notice. This project, known as 'Yeonsan Hanulchae El Centro', consists of a structure from 4 underground levels to 36 above-ground levels, with a total of 368 units and 90 auxiliary facilities. The total floor area amounts to approximately 71,825㎡, utilizing reinforced concrete as the main structure.
This project in Yeonje-gu, Busan began with Notice No. 2021-3 (January 6, 2021), had its project implementation plan changed in 2022, and received completion approval on August 27, 2025, ultimately completing the project. The implementing entity is the New Yeonsan Apartment Small-Scale Reconstruction Project Association.
At the time of sale, the price for the 84㎡ units was set between 600 million and 730 million won; however, recently, high-floor listings have appeared at lower prices in the 500 million range, attracting attention.
With the introduction of post-payment interest for intermediate payments, additional financial burdens have arisen, and it is analyzed that interest rate increases and the real estate market slump have impacted the price decline. This situation encourages a more careful observation of future market trends.
Yeonsan-dong is gaining attention for its proximity to the center of Busan while offering various living conveniences. It serves as a transportation hub centered around Yeonsan Intersection, and the presence of Yeonsan Station on subway lines 1 and 3 provides excellent accessibility throughout Busan. Additionally, there is a concentration of elementary, middle, and high schools, along with academies, making the educational environment very favorable.
Yeonsan Hanulchae El Centro boasts luxurious finishing materials and is a brand apartment with outstanding marketability. Despite being carried out on a small scale compared to large redevelopment or reconstruction projects in Busan's challenging real estate market, it has successfully completed construction through stable progress, which is very noteworthy. Moving forward, it is likely to attract significant interest from the consumer base of new apartments in Yeonsan-dong.
Notice No. 2025-63 of Yeonje-gu, Busan
Notice of Completion Approval and Construction Completion of the Small-Scale Reconstruction Project in Yeonsan-dong
Approved for project implementation plan by Notice No. 2021-3 (January 6, 2021), plan change approved by Notice No. 2022-21 (March 30, 2022), and in accordance with the provisions of Article 39 of the Special Act on Empty Houses and Small Housing Reconstruction, the completion approval and the construction completion notice are hereby issued.
September 3, 2025
Mayor of Yeonje-gu, Busan
1. Type and Name of Project
a. Type: Small-scale Reconstruction Project
b. Name: New Yeonsan Apartment Small-scale Reconstruction Project
2. Name and Address of Implementing Entity
a. Name: New Yeonsan Apartment Small-scale Reconstruction Project Association
b. Address: 53, Geojecheon-ro 230beon-gil, Yeonje-gu, Busan, 2nd Floor (Yeonsan-dong, Yeonsan Center Bill)
3. Location and Area of Project Implementation Area
a. Location: Yeonsan-dong 588-1, Yeonje-gu, Busan
b. Area: 7,581.90㎡
4. Date of Completion Approval: August 27, 2025 (Wednesday)
5. Contents of Completion Approval: Multi-family housing (Apartment) and auxiliary and welfare facilities
| Category | Scale |
| Main Use | Multi-family housing (Apartment) and business facilities |
| Number of Units | 368 units and 90 units |
| Number of Floors | 4 basement floors / 36 above ground floors |
| Total Floor Area | 71,825.1768㎡ |
| Main Structure | Reinforced concrete structure |
Category
Notice
Organization Type
District
Organization
Yeonje-gu
Notice·Announcement Number
No. 2025-63
Title
Notice of Completion Approval and Construction Completion of the Small-Scale Reconstruction Project in Yeonsan-dong
Date
2025-09-03
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Frequently Asked Questions (FAQ)
Q. What kind of apartment is Yeonsan Hanulchae El Centro?
Yeonsan Hanulchae El Centro is a small-scale reconstruction apartment consisting of 368 units, ranging from 4 underground floors to 36 above-ground floors, located in Yeonsan-dong, Yeonje-gu, Busan.
Yeonsan Hanulchae El Centro is a small-scale reconstruction project of the New Yeonsan Apartment located at 588-1, Yeonsan-dong, Yeonje-gu, Busan. It comprises a total of 368 units and is structured from 4 basement floors to 36 above-ground floors with 90 auxiliary facilities. Using a reinforced concrete structure, it boasts excellent durability, with a total floor area of approximately 71,825㎡, providing the convenience and marketability of a large complex.
Q. What is the progress of the New Yeonsan Apartment small-scale reconstruction project?
This project progressed from the project implementation plan approval in 2021 to the completion approval and construction completion announcement in August 2025.
The small-scale reconstruction project of the New Yeonsan Apartment received project implementation plan approval on January 6, 2021, by Notice No. 2021-3 of Yeonje-gu, and the project implementation plan was changed in 2022. Ultimately, completion approval was obtained on August 27, 2025, and on September 3, the Mayor of Yeonje-gu announced the construction completion notice. The implementing entity is the New Yeonsan Apartment Small-Scale Reconstruction Project Association, and the project was carried out on an area of approximately 7,581.90㎡.
Q. What are the sale prices and recent trading trends of Yeonsan Hanulchae El Centro?
The initial sale price for the 84㎡ units was between 600 million and 730 million won, but recently, high-floor bargain listings have appeared in the 500 million range.
At the time of sale, the price for the 84㎡ units was set between 600 million and 730 million won; however, recent fluctuations in the real estate market, the increase in interest rates, and the introduction of post-payment interest for intermediate payments have led to high-floor units being marketed at lower prices in the 500 million range. Consequently, Yeonsan Hanulchae El Centro is exposed to price volatility, creating a situation that requires close monitoring of future real estate market trends.
Q. What is the living infrastructure and transportation environment in Yeonsan-dong where Yeonsan Hanulchae El Centro is located?
Yeonsan-dong is close to the center of Busan, has a double station area at Yeonsan Station, and is well-equipped with various schools and convenience facilities.
Yeonsan-dong is located near the center of Busan and acts as a transportation hub centered around Yeonsan Intersection. Thanks to Yeonsan Station servicing subway lines 1 and 3, it offers excellent accessibility throughout Busan, and nearby educational facilities such as elementary, middle, and high schools, and academies are concentrated, providing a high-quality academic environment. The various living convenience facilities and transport networks serve as major attractions for the consumer base of new apartments.
Q. What is the legal basis for the completion and announcement of this small-scale reconstruction project, and who is the implementing body?
Completion approval is granted under Article 39 of the Special Act on Empty Houses and Small Housing Reconstruction, and the implementer is the New Yeonsan Apartment Small-scale Reconstruction Project Association.
This small-scale reconstruction project has been granted completion approval under Article 39 of the Special Act on Empty Houses and Small Housing Reconstruction, and the construction completion announcement was made according to Article 13 of the Law Enforcement Ordinance. The project implementer is the New Yeonsan Apartment Small-scale Reconstruction Project Association, located in Yeonsan-dong, Yeonje-gu, Busan. The related notice was announced as Yeonje-gu Notice No. 2025-63 on September 3, 2025.
