Increasing Difficulty in Buying a Home... Buyers Seeking Price Competitiveness Focus on City Construction's 'Hwaseong Namyang City Pradium 4th Phase'

This Year, Nationwide Apartment Sale Prices Rise Over 15%... Jeonse Prices Also Hit Record High
Demand Focuses on Regions with Price Competitiveness... Hwaseong Namyang City Pradium 4th Phase in Spotlight

Across the country, not only apartment sale prices but also jeonse prices have surged sharply due to the aftereffects of the Three Lease Laws, and it is expected that buyers' movements in the sales market will intensify further. Amid this, complexes with price competitiveness are gaining attention, and the newly launched 'Hwaseong Namyang City Pradium Phase 4' is drawing focus as it opens its model house.

According to KB Real Estate data, the nationwide apartment sale price per square meter rose from 4.481 million KRW to 5.159 million KRW from January to November this year, recording a 15.13% increase. Additionally, jeonse prices increased from 2.88 million KRW to 3.298 million KRW, a 14.51% rise, marking the highest point ever recorded since apartment sale and jeonse price statistics have been compiled.

Despite the soaring sale and jeonse prices reaching unprecedented highs, buyers' transactions show no signs of slowing down. From January to October this year, nationwide apartment sales transactions totaled 640,340, which is about 250,000 more than the 388,212 transactions during the same period last year.

An industry expert stated, "Despite ongoing real estate market regulations, the unstoppable rise in sale and jeonse prices has pushed housing instability to its peak," adding, "As a result, buyers' purchasing sentiment is increasing, and regions with price competitiveness are receiving more attention."

Looking at regions where apartment sales transactions have significantly increased compared to last year, in Seoul, areas such as Gangbuk-gu, Gangseo-gu, Dobong-gu, and Eunpyeong-gu?relatively affordable districts within the city?saw a large rise in transactions. In Gyeonggi Province, cities like Gimpo, Goyang, Gunpo, Paju, Gwangju, Pyeongtaek, Osan, and Hwaseong, which have been relatively undervalued, also experienced a significant increase in sales transactions.

Amid the unstoppable rise in apartment prices, complexes with price competitiveness are gaining attention, and City Construction's 'Hwaseong Namyang City Pradium Phase 4,' supplied in Namyang New Town, Hwaseong City, is drawing focus.

Composed of a single exclusive area type of 84㎡, the base floor sale price of 'Hwaseong Namyang City Pradium Phase 4' is in the 330 million KRW range, offering a competitive price compared to nearby complexes. According to KB data, the average sale price of the nearby 'Donggwang Viewel' apartment (moved in 2018) is around 360 million KRW, with the upper average at 390 million KRW, making 'Hwaseong Namyang City Pradium Phase 4' more than 20 million KRW cheaper than the surrounding market prices.

Namyang New Town, where 'Hwaseong Namyang City Pradium Phase 4' is located, is a new residential area in the western part of Hwaseong City. It is developing into an administrative complex residential area linked with the existing Hwaseong City Hall and is a large-scale residential area accommodating about 39,000 residents.

First, Namyang New Town is considered a direct beneficiary area of the metropolitan area's railway transportation network development. The Seohaean double-track railway 'Hwaseong City Hall Station' is scheduled to be newly established in 2022 and is planned to be connected with the Sinansan Line, which aims to open in 2024. The opening of the Seohaean double-track railway and Sinansan Line will greatly improve access to the metropolitan area, and direct benefits are expected accordingly.

Additionally, the opening of the Metropolitan Area 2nd Outer Ring Road is scheduled for next year, and the Bal-an~Namyang Expressway development project, connecting Namyang-eup and Paltan-myeon in Hwaseong City, is underway, making travel across the metropolitan area more convenient due to road transportation network development.

'Hwaseong Namyang City Pradium Phase 4' is the fourth brand complex supplied by City Construction within Namyang New Town. Having successfully supplied three phases previously, expectations for 'Hwaseong Namyang City Pradium Phase 4' are rising even higher.

A sales official for Hwaseong Namyang City Pradium Phase 4 said, "Recently, due to the rise in apartment prices in the metropolitan area, new complexes with competitive sale prices are gaining attention for quick sell-outs. Therefore, interest from actual buyers in Hwaseong Namyang City Pradium Phase 4, supplied at a reasonable price, is expected to be high," adding, "Especially as the last supply complex of a leading brand boasting a prime location within Namyang New Town, a warm response is anticipated."

'Hwaseong Namyang City Pradium Phase 4' operates a cyber model house to prevent and contain the spread of COVID-19. Through the cyber model house, visitors can check location, product details, and subscription schedules, and actual visits to the model house will be allowed only for successful applicants in the future.

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The model house for 'Hwaseong Namyang City Pradium Phase 4' is located at 2227-7 Namyang-ri, Namyang-eup, Hwaseong-si, Gyeonggi-do. The subscription schedule is as follows: special supply on the 14th (Monday), first priority for the relevant group on the 15th (Tuesday), and other first priority on the 16th (Wednesday). The announcement of successful applicants will be on the 23rd (Wednesday), and the expected move-in date is April 2023.