Daegu Housing Purchase Index Rising... Is Now the Right Time to Buy a Home?

Daegu Metropolitan City Consumer Sentiment Index Rises to 138.3, Ranking 2nd Nationwide
Jeonse and Sale Prices Steadily Increase Over 10 Years... The Best Time to Buy a Home Is 'Today'

The real estate market in Daegu is stirring. With the consumer sentiment index soaring to one of the highest levels nationwide and most unsold units being depleted within a month, it clearly proves that demand for homeownership is increasing.

According to the nationwide real estate consumer sentiment data released by the Korea Research Institute for Human Settlements on the 16th, Daegu Metropolitan City’s consumer sentiment index rose to 138.3, ranking second highest in the country after Ulsan Metropolitan City (139.2). A real estate consumer sentiment index above 100 indicates that more respondents expect price increases and transaction growth compared to the previous month.

The sharp rise in Daegu’s consumer sentiment index is attributed to the high jeonse (long-term lease) price ratio. According to Real Estate 114, the jeonse price ratio for apartments in Daegu in November reached 70.18%, which is 9.96 percentage points higher than the national average of 60.22%.

In fact, both jeonse prices and sale prices have steadily increased. The jeonse price per 3.3㎡ for Daegu apartments rose from 3.49 million KRW in 2010 to more than double at 7.17 million KRW in 2019. In October last year, it further increased to 7.35 million KRW. Sale prices also nearly doubled from 5.34 million KRW in 2010 to 10.46 million KRW last month.

Unsold units have also rapidly decreased. According to the Korea Real Estate Agency’s unsold housing status, Daegu had 259 unsold units in September, down 84.05% from 1,624 units the previous month.

P, a person in their 30s living in Buk-gu, Daegu, said, “Jeonse prices have risen so much that I want to buy my own home as soon as possible, but delaying only makes house prices go up further. I’m considering applying for a new apartment with better conditions.”

Meanwhile, attention is focused on The Sharp Premier, supplied by POSCO Construction in Chimsan-dong, Daegu’s representative residential area, as its model house has opened and pre-sale has officially begun.

The complex consists of three apartment buildings with up to 48 floors, totaling 300 units, and a new-concept mixed residential space, Signal 3.0, with 156 officetel units. The exclusive area units are ▲70㎡A 85 units ▲70㎡B 85 units ▲84㎡A 87 units ▲84㎡B 43 units, and the officetel consists of 156 units of 84㎡. Move-in is scheduled for September 2024.

The subscription schedule starts with special supply on the 23rd of this month, followed by first priority on the 24th and second priority on the 25th, all accepted through the Korea Real Estate Agency’s subscription homepage. Winners will be announced on the 1st of next month, and contracts will be signed over three days from the 14th to the 16th.

Chimsan-dong, where The Sharp Premier is located, is considered one of Daegu’s most livable areas. Numerous elementary, middle, and high schools such as Chilseong Elementary (planned allocation), Chimsan Elementary, Dalsan Elementary, Chimsan Middle, Daegu Il Middle, Chilseong High, and Gyeongsang Girls’ High are nearby, enabling safe commuting. The prestigious Chimsan Intersection academy district is also adjacent. The area boasts excellent transportation access with Sincheon-daero nearby, providing easy access throughout Daegu, and convenient use of Bukdaegu IC and Seodaegu IC. Multiple bus routes and Daegu Subway Line 1’s Daegu Station are also easily accessible.

In addition to large marts and Chilseong Market, cultural facilities such as the Opera House, Daegu Complex Sports Town, and Chimsan Park are concentrated here. It is also close to administrative towns including the National Pension Service, Creative Economy Innovation Center, Korea Electric Power Corporation, Bukdaegu Tax Office, and Daegu City Hall. The commercial district is expected to become more active and the population to increase further with the development of the Gyeongbuk Provincial Government relocation site, scheduled to begin construction in 2021.

The product features are excellent. The buildings are mainly south-facing with all units designed in a 4-bay slab-type layout to enhance openness, allowing ample sunlight and ventilation. Storage space is enhanced with dress rooms and pantries, and depending on lifestyle, residents can choose an alpha room or a large pantry (in some units).

The residential officetels are designed with a 4-bay innovative layout allowing cross ventilation and natural lighting in all rooms. Storage is maximized with corridor pantries, built-in kimchi refrigerators, engineered stone countertops and walls in the kitchen, induction cooktops, kitchen art walls, polished tiles, and system air conditioning for a comfortable indoor environment. Additionally, customers can choose between room-in-room basic or edu types for the bedroom, offering a total of eight specialized product options as standard.

Inside The Sharp Premier, POSCO Construction’s industry-first smart technology ‘IQ Tech (AIQ TECH)’ is also applied. It integrates with platforms such as Kakao, SKT, Samsung Electronics, and LG Electronics, allowing control of lighting, heating, ventilation, parking location, and delivery arrival information via voice or text commands (KakaoTalk). Using dedicated smartphone and tablet applications, residents can control devices and check information, and automatic recognition for common entrance access is also available.

Meanwhile, Buk-gu, Daegu, which is not included in overheated subscription areas, allows anyone aged 19 or older to apply for first priority subscriptions regardless of home ownership or household head status, with a resale restriction of three years, allowing resale before ownership transfer registration. Additionally, a fixed first installment of 10 million KRW has been introduced to reduce the burden on applicants.

Residential officetels can be subscribed to from anywhere nationwide without regional restrictions, and anyone aged 19 or older can apply even without a subscription savings account. Only 10% of the contract amount is required as a deposit, and resale is possible immediately after the contract.

The model house is located at 43-18 Beomeo-dong, Suseong-gu, Daegu (near Exit 4 of Beomeo Station on Daegu Subway Line 2) and is operated under strict quarantine measures to prevent the spread of COVID-19.