Apartment prices vary significantly even within the same living area, depending on whether they offer lake views. Factors such as the actual view from the unit, openness, and orientation are increasingly influencing residential value.
According to industry reports, the criteria for selecting apartments now include not just location but also what residents can see from their homes. Within the same living area, the ability to view a lake or park from the living room window, as opposed to being blocked by surrounding buildings, affects both residential satisfaction and market evaluation.
A prime example is the area around Gwanggyo Lake Park. As of August 2026, the average price for an 84-square-meter unit at 'Gwanggyo Junghung S-Class,' which has lake views, is approximately 1.785 billion won, up from 1.630 billion won a year earlier.
Recent transactions also reflect this trend. An 84-square-meter unit in the same complex sold for 2 billion won in August, marking a record high. The average asking price for similar units currently on the market is around 2 billion won.
In contrast, an 84-square-meter unit at 'Gwanggyo Hoban Verdium,' located nearby but lacking lake views, sold for 1.5 billion won in August. This indicates a price difference of about 500 million won between complexes that are physically close but differ in view.
Industry experts note that not only lake views but also orientation play a crucial role in determining property value. Units facing south with lake views can secure both sunlight and sightlines, leading to higher market ratings.
Similar trends are emerging in other regions. The area around Seongseong Lake Park in Cheonan, South Chungcheong Province, is gaining attention as a new waterfront residential town.
According to the Ministry of Land, Infrastructure and Transport's real transaction disclosure system, an 84-square-meter unit at 'e-Pyeonhansesang Seongseong Lake Park,' which offers a south-facing view of the park, was sold for 624.1 million won in early August. In contrast, a similar unit at 'Cheonan I-Park City 2,' which has limited view options, sold for 594.9 million won around the same time, reflecting a price difference of about 30 million won despite being in adjacent living areas.
Given this atmosphere, apartment complexes with waterfront views are expected to attract interest in the upcoming second half of the year.
POSCO E&C plans to launch 'The Sharp Cheonan Lacone' in October in the Buseong 2 Urban Development Area of Seobuk-gu, Cheonan. The complex will consist of 1,290 units across 10 buildings, ranging from 84 to 118 square meters, with all units oriented to the south and designed for optimal light and ventilation. Notably, the 118-square-meter units will be specially designed to offer views of Seongseong Lake Park.
Hyundai Engineering will also offer 'Hillstate Geoje Signature' in October in Okpo-dong, Geoje City, with 1,963 units ranging from 84 to 165 square meters, some of which will have views of Okpo Port.
In Jinju, 'Jinju Panmun District Lake Summit Welga' is set to be supplied on September 18, featuring 690 units across 27 floors, with some units expected to offer views of Jinjang Lake, including a sky lounge on the top floor for enjoying the scenery.
As demand for comfortable living spaces rises, lake and park views are likely to become key differentiators that enhance the price stability and appeal of new developments.
An industry insider stated, “As consumer expectations for residential comfort increase, the demand for properties with waterfront views will continue to grow. Particularly, units that meet both lake view and south-facing criteria are in limited supply, leading to strong preferences among potential buyers.”
* This article has been translated by AI.
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