A single-family house with one below-ground floor and two above-ground floors
A luxury single-family home in Madu-dong, Ilsan, has seen its auction price drop roughly 66 percent from a starting bid of about 1.7 billion won (approximately $1,110,000) to around 500 million won.
A single-family home in Madu-dong, long considered one of Ilsan's most prestigious residential neighborhoods, has appeared on the auction market. The area is known alongside Jeongbalsan-dong as "Ilsan's Beverly Hills" for its concentration of wealthy residents. A two-story luxury home there opened at around 1.7 billion won (approximately $1,110,000) and has fallen to the 500 million won range after repeated failed bids.
The property sits in a single-family housing district in Madu-dong, Ilsandong-gu, Goyang, Gyeonggi Province. Built in the 1990s during the first-generation new town development of Ilsan, the house has one below-ground floor and two above-ground floors. Its land area measures 231 square meters (70 pyeong, where 1 pyeong equals 3.3 square meters) and the building floor area is 277 square meters (84 pyeong) — spacious by urban single-family standards.
The location offers strong lifestyle infrastructure. The National Cancer Center is a five-minute walk away, and Jeongbalsan Park is reachable on foot in about 15 minutes. The NewCore Outlet shopping mall is a 20-minute walk or five-minute drive, and the Western Dom and La Festa commercial districts are similarly close.
Despite its locational advantages, the Ilsan home has failed to attract buyers at auction. Details on the specific factors behind the repeated failed bids are available in the video report.
hwshin@heraldcorp.com
