Recognition of Ulsan's Last Beneficiary Complex Before August Pre-sale Transfer Restrictions
Posco The Sharp Following Daehyeon 1 and 2, Expected to Have the Highest Premium in Nam-gu
On the 11th of last month, the Ministry of Land, Infrastructure and Transport announced a real estate policy that prohibits the resale of pre-sale rights until the ownership transfer registration for new housing supplied in private residential areas in non-regulated areas of provincial metropolitan cities and the Seoul metropolitan area.
The amendment strengthens the resale restriction period for houses supplied in the Seoul metropolitan area’s overpopulation control zones and growth management zones, as well as provincial metropolitan cities, from the existing 6 months to until the point of ownership transfer registration. In effect, resale of pre-sale rights is banned throughout the entire Seoul metropolitan area and provincial metropolitan cities.
Accordingly, interest from buyers in new pre-sale complexes supplied in these areas is increasing until the revision of the Housing Act Enforcement Decree in August.
As the nationwide subscription market experiences a final surge in subscriptions ahead of the resale restriction regulation, attention is focused on a complex in Nam-gu, Ulsan, which is expected to be the last pre-sale before the resale restriction.
‘The Sharp Beonyeong Centro,’ scheduled for sale in June, will be constructed at 487-8, Yaeum-dong, Nam-gu, consisting of 7 apartment buildings from 3 basement floors to 29 above-ground floors, with 632 households and auxiliary facilities. The units will be available in 59㎡ A/B, 75㎡ A/B, and 84㎡ types.
This area is the most preferred residential location in Ulsan, but due to the economic downturn, there have been no new pre-sales for four years. However, with the announcement of this complex’s sale plan, attention has been drawn from buyers who have been waiting for new apartments in Nam-gu. High subscription rates are expected based on existing waiting demand alone, but competition is anticipated to be fierce as this is the last complex exempt from resale restrictions. Moreover, with the tram project being actively promoted and currently under review by the National Transportation Committee, as well as the planned expansion of the Ulsan Techno General Industrial Complex, industry insiders say winning a unit is like hitting the lottery.
‘The Sharp Beonyeong Centro’ boasts an excellent location with all living infrastructure well established. Adjacent to the complex is Beonyeong-daero, Ulsan’s transportation hub, along with major arterial roads such as Suam-ro and Samsan-ro connecting the city and outskirts. When two tram lines pass next to the complex, the transportation environment will become even more convenient.
The natural environment is also top-notch, with Seonam Lake Park and Sinsan Mountain located within 1 km, and outstanding natural and relaxation spaces such as Yeocheon Stream behind the complex. Additionally, within a 2 km radius, residents can access public institutions like Nam-gu Office and various retail facilities including Homeplus, E-Mart, and Lotte Department Store. The educational environment is excellent as well. Dosan Elementary School is within walking distance, ensuring safe commuting for children, and prestigious schools in Nam-gu such as Daehyeon Elementary, Yaeum Middle, Daehyeon High, and Sinsun Girls’ High, as well as the Ok-dong academy district, Dosan Library, and Ulsan Library, are all nearby.
‘The Sharp Beonyeong Centro’ is the first apartment for sale in Ulsan after the brand renewal and is also attracting attention as a complex that will continue the premium of the nearby Daehyeon 1st and 2nd The Sharp complexes. POSCO Construction ranked 6th in construction capability evaluation in 2019, and The Sharp, which underwent a brand renewal for the first time in 11 years earlier this year, has been awarded 1st place in customer loyalty for four consecutive years since 2020 and 1st place in the Korea Quality Satisfaction Index for 10 consecutive years, earning a place in the ‘Hall of Fame’ and being recognized as a premium brand.
The model house for this complex will be built near Beonyeong Intersection at 1325-13, Daldong, Nam-gu, and is scheduled to open in June.
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