- When the Enforcement Decree of the Housing Act is amended, resale restrictions on pre-sale rights will be strengthened, banning resale of new housing in provincial metropolitan cities and the Seoul metropolitan area until ownership transfer registration
- Demand focuses on the last new complexes before the resale restriction on pre-sale rights
Last May, the Ministry of Land, Infrastructure and Transport announced an amendment to the Enforcement Decree of the Housing Act aimed at stabilizing housing prices. Once the amendment is implemented, from August onwards, the resale of pre-sale rights in non-regulated areas of metropolitan cities and the Seoul metropolitan area will be prohibited. As a result, it is expected that demand will flock to the last remaining pre-sale complexes that avoid these regulations.
With the amendment to the Enforcement Decree of the Housing Act, resale restrictions will be strengthened, extending the resale restriction period for new housing pre-sale rights supplied in private land in metropolitan cities and the Seoul metropolitan area from the existing 6 months to until the registration of ownership transfer. This effectively bans the resale of pre-sale rights for new housing in metropolitan cities and the Seoul metropolitan area.
Consequently, new complexes that have avoided these regulations are enjoying a windfall benefit. In June, ‘Ssangyong The Platinum Geoje Asiad’ in Yeonje-gu, Busan recorded an average competition rate of 230.7 to 1. In the same month, ‘Daegu Yongsan Xi’ in Yongsan-dong, Dalseo-gu, Daegu also recorded an average competition rate of 114.6 to 1, with a peak of 226.7 to 1, closing all units with first-priority applications. Industry experts attribute the high competition rates to the fact that both complexes allowed resale after the official contract, making them attractive last-minute new complexes.
The popularity of pre-sale complexes before the resale restriction can also be seen in the official contract rates. At the end of June, ‘Hillstate Uijeongbu Station’ supplied in Uijeongbu, Gyeonggi-do, was not affected by strong government regulations and allowed resale of pre-sale rights six months after the contract, achieving a 100% sell-out in a short period. Also, ‘Naun Kumho Eoullim Central’ supplied in Gunsan, Jeonbuk, allowed immediate resale of pre-sale rights after full payment of the deposit, completing all contracts for all units within four days of the official contract start. The industry analyzes that the approaching implementation of resale restrictions positively influenced the official contract rates.
An industry insider explained, “There is a lot of interest in the last remaining new supply that is not subject to resale restriction regulations,” adding, “Among them, it is important to have the insight to find prime complexes with future value, equipped with specialized designs, community facilities, and development prospects.”
Meanwhile, KCC Construction is launching Daegu Opera Switzen, located at 55-2, Goseong-dong 1-ga, Buk-gu, Daegu Metropolitan City. The cyber model house opened on the 31st, marking the start of full-scale sales. Since the pre-sale is just before the implementation of resale restrictions, it is attracting much attention as a last-minute beneficiary complex that avoids regulations. The complex consists of 7 buildings ranging from 2 basement floors to a maximum of 49 floors above ground, comprising 854 apartments with a net area of 84㎡ and 75 residential officetel units.
Daegu Opera Switzen introduces a differentiated floor plan specialization compared to existing complexes. The 84㎡ A-type, which consists of the largest number of 497 units, adopts the latest Full-Bay floor plan design that surpasses the existing 4Bay. The Full-Bay design installs windows on all sides where sunlight can enter, maximizing natural lighting beyond the traditional 4Bay, and boasts excellent openness and ventilation.
With increased interest in hygiene due to the COVID-19 virus, the bathroom is located right next to the entrance to minimize movement, and an Italian ceramic panel art wall is installed on the living room wall to add a high-end interior effect.
Additionally, a luxury master room (in some units) will be introduced, featuring a wide dressing room, powder room, and a bathroom equipped with a bathtub, which were not seen in the existing 84㎡ types.
The 84㎡ B-type, consisting of 273 units, features a two-sided open tower structure with excellent views and sunlight, providing a refreshing sense of openness. Notably, a walk-in dressing room design is applied to all rooms, whereas dressing rooms were previously only available in the master bedroom, securing more storage space compared to other complexes with the same area.
Furthermore, a specialized view dining design is applied so that natural light and views can be enjoyed not only in the living room but also in the kitchen and dining areas. While the existing kitchen barely fit a 4-person dining table, the 84㎡ B-type with the view dining design can comfortably accommodate a 6 to 8-person dining table.
Also noteworthy is the high ceiling design, which is rarely found in general apartments and usually seen only in luxury detached houses. The ceiling height is 2.45m, 15cm higher than the standard apartment ceiling height of 2.3m, and with the addition of a tray ceiling height, it is constructed to a maximum ceiling height of 2.57m, the highest in Daegu. The ceiling height is increased by up to 27cm compared to existing apartments, providing a comfortable and maximized sense of openness.
The officetel also features a specialized design different from existing complexes. The 84㎡ OAD type applies an LDK (Living, Dining, Kitchen) structure to maximize openness and is constructed with a ceiling height of 3.65m to enhance comfort. Additionally, Italian ceramic panels are installed on the kitchen wall up to ceiling height, creating a luxurious and sophisticated kitchen. Moreover, it is designed with a vertical space-separated 4Bay duplex structure, featuring an attic room as large as the master bedroom, allowing for an independent living space for rest or hobbies.
Daegu Opera Switzen also introduces the Beyond Culture Center. The Beyond Culture Center is a community facility that goes beyond the limitations of existing apartment complex community facilities by linking the ground and outdoor spaces, allowing residents more convenient use. The community is located on the ground floor to maximize natural light and views and is connected to outdoor spaces, offering a new lifestyle. It features a variety of communities that respond to recent lifestyle changes, from a dynamic sports community that cares for a healthy daily life, a play kids community exclusively for children, to a high-end culture community that instills pride in residents. The plan also considers user flow to enhance resident satisfaction.
The Daegu Opera Switzen model house is located at 385-1, Sincheon-dong, Buk-gu, Daegu Metropolitan City.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
