{"id":39192,"date":"2024-09-17T14:27:07","date_gmt":"2024-09-17T07:27:07","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=39192"},"modified":"2024-09-17T14:27:07","modified_gmt":"2024-09-17T07:27:07","slug":"south-korea-branded-residences-among-worlds-highest-premiums","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/south-korea-branded-residences-among-worlds-highest-premiums\/","title":{"rendered":"South Korea branded residences among world\u2019s highest premiums"},"content":{"rendered":"

Branded residences often command premiums of up to four times the average built-up sales price<\/p>\n

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Image Source: Capella Yang Yang, South Korea<\/figcaption><\/figure>\n

South Korea’s luxury real estate market has evolved significantly, shifting from traditional residential properties to innovative branded residences. This trend began in 2008 when The Ananti Hotel introduced a pioneering co-ownership model, targeting affluent buyers seeking luxury vacation homes and social prestige. Following its success, domestic brands such as Lotte and Hanwha Resorts also adopted the model.<\/p>\n

\"\"Recently, international players like Marriott, Banyan Tree, and Capella have entered the market, adding investment appeal with structured rental programs. According to a new report by consulting group C9 Hotelworks in their South Korea Hotel Branded Residences Market Review 2024<\/a>, this is just the tip of the iceberg of a growing trend across the country.<\/p>\n

Today, branded residences are recognised as high-value investments in South Korea’s luxury real estate sector. These properties often command premiums of up to four times the average built-up sales price. Seoul leads the nation with the highest built-up sales price, reaching USD28,713 per square metre this year. However, branded residences in resort destinations often have even higher price premiums than those in urban centres.<\/p>\n

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Jeju and Gangwon-do, two of the country\u2019s emerging resort markets, have experienced significant growth, driven by increasing tourism. The convenient access from Seoul has fuelled demand for secondary homes and investment properties in these areas. Branded residences with well-known affiliations are breaking sales price records while maintaining above-average sales paces, as they are perceived to offer higher investment value with less risk. Currently, branded residences in Jeju and Gangwon-do have built-up sales prices four and six times higher than the market-wide averages, respectively.<\/p>\n

Key trends identified in C9 Hotelworks\u2019 research include:<\/p>\n