Target Apartments Approved for Sale Before Regulations! 'Gwangyang Dongmun Good Morning Hill Mom City' with No Loan Restrictions

Up to 60% Interim Payment Loan Regardless of Number of Houses, Exclusion from Disposal Agreement
Unlimited Resale of Pre-sale Rights, Many Advantages Including Confirmed Establishment of Wau Elementary School

Dongmoon Construction is currently selling units at Gwangyang Dongmoon Good Morning Hill Mom City in Gwangyang-si, Jeollanam-do, which received sales approval before Gwangyang-si was designated as a regulated area. Accordingly, if you sign a contract for an apartment that remains unsold, you can apply the pre-regulation rules and obtain loans regardless of the number of houses you own.

[Perspective view of Gwangyang Dongmun Good Morning Hill Mom City, Photo by Dongmun Construction]

Last December, the government newly included 36 major cities nationwide, including metropolitan areas outside the Seoul metropolitan area such as Yeosu, Gwangyang, and Suncheon, as regulated areas. Consequently, these areas face restrictions on loan-to-value ratios (LTV) set at 50% for properties valued up to 900 million KRW and 30% for amounts exceeding 900 million KRW. The debt-to-income ratio (DTI) was also tightened to 50%.

From now on, newly supplied apartments in the Gwangyang area will be subject to the regulated area rules, facing restrictions on loans and resale of pre-sale rights, making them relatively less attractive for investment.

On the other hand, existing and prospective new contract holders (limited to original buyers) of Gwangyang Dongmoon Good Morning Hill Mom City, which received sales approval before the regulations, can apply the pre-regulation loan limits regardless of the number of houses owned. They can receive a loan-to-value ratio (LTV) of up to 60%. However, loans may be restricted if there are issues with personal credit or if guarantee issuance is denied.

Gwangyang Dongmoon Good Morning Hill Mom City, currently being sold by Dongmoon Construction, consists of 15 buildings with 27 floors above ground and 2 basement levels, totaling 1,114 units with a net floor area of 84㎡ each. Behind the complex stretches Gayasan Mountain, and in front lies the South Sea, creating a baesan-imhae (mountain at the back, sea in front) terrain, allowing views of both the mountain and sea from the upper floors. The complex is easily accessible via Cheongam-ro, Baegun-ro, and Jungma-ro, and has good connectivity to nearby areas such as Yeosu and Suncheon through the Yi Sun-sin Bridge and Namhae Expressway.

The complex is highly anticipated as a ‘one-stop school zone’ not only because it attracts academies from Gangnam Daechi-dong but also due to the confirmed establishment of Wow Elementary School (tentative name) within the Wow district. Gwangyang-si, Jeollanam-do, has signed a business agreement with the Jeollanam-do Office of Education and is aiming for the school to open in 2023.

In addition to the living infrastructure of Jungma district, there are large supermarkets, cinemas, and hospitals within a 2 km radius. Proximity to POSCO Gwangyang Steelworks, Singum General Industrial Complex, Gwangyang National Industrial Complex, and Seonghwang General Industrial Complex makes commuting fast and convenient. Notably, POSCO Gwangyang Steelworks, one of the world’s leading steel plants, employs about 6,400 people, and when combined with related companies, the total workforce related to POSCO Gwangyang Steelworks reaches approximately 15,000.

The design also features women-centered specialized layouts. The floor plans are mainly 4-bay to enhance openness and spatial perception. Additionally, wide kitchens, deluxe pantries, powder rooms, and dressing rooms are designed considering the movement lines of housewives. Some unit types also include alpha rooms that can be used flexibly according to lifestyle.

Throughout the complex, including indoor areas and parking lots, the Dongmoon Air Plus (AIR PLUS) system is provided to assist ventilation, air purification, and effectively block fine dust. Community facilities within the complex include a fitness center, GX room, table tennis room, golf practice range equipped with GDR at every tee, saunas (male and female), cafeteria, kids’ room, multi-purpose room, small library, and study room.

The model house is located throughout the Gwangyang area, and move-in is scheduled for January 2023.