INCHEON, Korea, Dec 20 (Korea Bizwire) – Amid a protracted downturn in the overall housing market, there is one bright spot that has seen rapid growth lately. That’s the market for townhouses. Long considered a living arrangement exclusively for the wealthy, most townhouses in Korea are so expensive for middle class families as they are well over $1 million with monthly maintenance cost easily surpassing $1,000.
As more people opt to get out of the dry, monotonous living arrangement of high-rise apartments, however, construction contractors are paying more attention to building affordably priced townhouses. A case in point is Saint Castle being built in the new residential city of Dongtan, a town near Suwon about 50 kilometers south of Seoul. With 214 square meters (2,300 sq. ft.) of floor area, the houses in this 108-family townhouse complex are priced at the mid-400 million won (about $400,000) range. The complex offers each housing unit a home fuel-cell energy system for electricity and heating needs, which will save maintenance cost substantially.
Another advantage of Saint Castle is that it is located in a downtown area so that running an errand for dry cleaning pickups, ordering food from nearby restaurants, and sending children to school are so effortlessly close. This is quite different from other townhouses that are built in quiet but far-off places from commercial zones.
Each house occupies a four-story section of the building, with the first floor used for a two-car garage and multi-purpose spaces for storage and studio, the second for the living room and kitchen, the third for two bedrooms and a bathroom, and the attic for a study and big terrace.
The trend toward more people preferring to live in detached homes and townhouses away from apartments is expected to continue for the time being. This is not just for old families in their 50s or 60s, but for those in their 30s and 40s who want to enjoy better quality of life. For more information on Saint Castle, call 031-613-1253 or visit the website at www.saintcastle.co.kr.