LH to Supply 15 Parcels Including Neighborhood Commercial Land in Naepo New Town, Chungnam

Location map of Naepo New Town, Chungnam (Provided by LH)

[Asia Economy Reporter Lee Chun-hee] Korea Land and Housing Corporation (LH) announced on the 19th that it will supply a total of 15 lots (14,748㎡), including 13 neighborhood commercial lots, 1 office lot, and 1 religious lot in Naepo New Town, Chungnam, through a competitive bidding process for general end-users.

The area of each neighborhood commercial lot being supplied this time ranges from 586 to 1,178㎡. The estimated price is about 4.9 million KRW per 3.3㎡, with a building coverage ratio of 60% and a floor area ratio of 400%, allowing buildings up to 7 stories. The office lot has a total area of 1,352㎡, with an estimated price of about 2.73 million KRW per 3.3㎡. The building coverage ratio and floor area ratio are the same as those of the neighborhood commercial lots. The religious lot has a total area of 3,310㎡, an estimated price of 2.22 million KRW per 3.3㎡, a building coverage ratio of 60%, and a floor area ratio of 150%, allowing construction up to 4 stories.

Naepo New Town is a representative administrative town in Chungnam, housing 128 administrative institutions such as the Chungnam Provincial Office, Education Office, and Police Agency within the district. It is an eco-friendly city with Yongbong Mountain and Suam Mountain located nearby and various streams flowing through, earning high evaluations for its excellent residential environment. It is scheduled to be designated as an innovation city by the end of this year, which is expected to bring even greater development potential.

The Seohaean Expressway Hongseong IC is located 13 km away, and the Dangjin-Yeongdeok Expressway Yesan Sudeoksa IC and Godeok IC are 11 km away. Last year, the Naepo New Town?National Road 45 connection road toward Sapgyo was also opened, further improving accessibility. Additionally, the Seohaeseon railway is under construction, and the construction of the 2nd Seohaean Expressway is planned, making it a transportation hub that will connect nationwide.

The bidding will be conducted through the LH Subscription Center from the 18th to the 24th. To participate in the bidding, a deposit of at least 5% of the bid amount must be paid. After the bid opening and winner announcement on the 24th, contracts will be signed from the 25th to the 28th. Payment can be made in installments over 2 years with interest. In particular, LH plans to allow loans up to 80% of the supply amount for buyers who have paid 20% of the supply amount through loan agreements with commercial banks.

For more detailed information regarding the supply, please refer to the announcement posted on the LH Subscription Center or contact the Sales Team of the Naepo Project Group at the LH Daejeon Chungnam Regional Headquarters.