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- Large-Scale 'Haneulchae' Brand Town Developed Around Project Site... Distinguished High-Quality Community Facilities Highlighted
#. Mr. A (42), an office worker living in Daejeon on a lease, could not hide his frustration. He had been eagerly planning his finances after hearing that an apartment he had been eyeing would be supplied within the first half of the year, but recently received news that the sale has been delayed. He said, “I liquidated my stocks and funds, which have been rising continuously, to prepare the down payment, but now the apartment sale is delayed, so I’m in a difficult position. The jeonse prices keep rising, and since I have two children, I can no longer postpone buying my own home, so I am looking for alternatives.”
Daejeon Apartment Supply Delays One After Another... Additional Delays Possible
As places in Daejeon that had announced apartment sales for the first half of this year are being delayed one after another, prospective buyers are losing sleep. Daejeon has over 80% of apartments older than 10 years (according to Real Estate 114 Labs), creating high demand for “moving into new homes,” but with sales delays in multiple projects including Tanbang 1 District (Sungeorisaem) and Yongmun 1, 2, and 3 Districts, buyers’ concerns are deepening day by day.
First, Tanbang 1 District and Yongmun 1, 2, and 3 Districts were considered “hot places” in the Daejeon sales market because, despite being reconstruction projects, they were expected to supply over 1,000 units each for general sale. However, due to COVID-19, the residents’ association meetings were delayed, causing difficulties in gathering members’ opinions and resulting in setbacks to the sales schedule.
A local real estate agency official said, “Demand for new complexes in Daejeon is high, and Tanbang 1 District and Yongmun 1, 2, and 3 Districts have good living conditions, so inquiries from buyers have been steady since the end of last year. It was considered the biggest reconstruction project in Daejeon this year, but interest has recently waned as news of delays came out.”
In particular, industry insiders say that the revision of the Housing and Urban Guarantee Corporation (HUG)’s “High Price Sale Review System” announced in February may act as a poison, potentially causing further delays in sales. Although the system now allows prices up to 90% of surrounding market prices, it may still be difficult to receive the “full price.” Therefore, prolonged negotiations between residents’ associations and HUG over sale prices are expected.
A real estate expert said, “In redevelopment projects, once delays start, it usually means the sales schedule should be considered ‘undecided’ due to many variables. From the perspective of actual buyers, it is wise not to endure the painful wait for the sales schedule but to target apartments with less likelihood of delay first.”
As apartment sales in Daejeon face difficulties, demand is expected to flood into new apartments with no delay risks. Currently, the development project underway in Daejeon Jung-gu is attracting attention. The advantage of this project is that the developer has purchased the land and there are no residents’ associations, so there are no major obstacles to selling on schedule.
[Daejeon apartment view. Currently, it is difficult for many apartments to be sold in the first half of the year. / Photo by Daejeon City]
Currently, this site has received approval for the project plan for a total of 793 units, including 743 apartments of 84㎡ exclusive area and 50 officetel units, with plans to sell in May this year, making it one of the fastest progressing apartment sales projects in Daejeon. It also draws attention as it forms a large-scale Haneulchae brand town together with the ongoing construction of Phase 1 (1,080 units). Daejeon Jung-gu is the center of Daejeon and part of the old downtown, boasting well-established residential infrastructure. Additionally, elementary, middle, and high schools are located within a 15-minute walk, forming a safe school commute zone, and convenience facilities such as Costco, Homeplus, large marts, Jungang Market, and Jungang-ro shopping district are nearby.
The head of a local real estate agency said, “As news of delays in apartment sales planned for spring in Daejeon emerged, the number of customers asking about the sales schedule of Daejeon Haneulchae Sky& 2nd phase has greatly increased. It is gaining a reputation as the optimal apartment for stable home ownership.”
Daejeon Haneulchae Sky& 2nd phase will open a “pre-promotion center” at the Sky& 1st phase model house (Yuseong-gu) on April 4, operating by appointment only and starting consultations. Visits can be reserved through the official website or the main phone number, and visitors who bring or verify their subscription savings account will receive a gift. Additionally, from March 29 to April 11, a first event will be held where customers who register as interested on the website will be entered into a draw to receive mobile gifticons. The interested customer registration event will be held in a relay format every two weeks until the model house opens.
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