Local Non-Regulated Area Real Estate Market 'Boom'... 'Doosan We’ve the Zenith Yangsan' Sale

- Included in Busan's regulated area last December... Real estate market stirs in Yangsan-si next to Busan
- Yangsan-si in Gyeongnam right next to Busan... Practical luxury apartments for real buyers appear

Since the government announced the December 17th measures last year, apartment prices in major provincial cities that escaped regulation have soared, fully enjoying the balloon effect.

Non-regulated areas have less stringent loan qualification requirements compared to regulated areas, and the burden of various taxes such as acquisition tax and capital gains tax can be significantly reduced. In particular, in provincial areas, resale is possible immediately after the contract, which is a great advantage in terms of liquidity.

Especially, Yangsan City has been showing strong performance in the real estate market since Busan Metropolitan City was designated as a regulated area in December last year. According to data from San Live On, apartment prices in Yangsan City, Gyeongnam, rose 13.8% (from 6.86 million KRW to 7.56 million KRW per 3.3㎡) over three months from the end of December last year to the end of March this year. As Busan was included in the regulated area last December, Yangsan City, which is practically a satellite city of Busan, appears to have benefited.

[Doosan We’ve the Zenith Yangsan bird’s-eye view, Source: Doosan Construction]

In this way, apartments in non-regulated provincial areas are gaining attention, and there is an apartment recently launched for sale in Yangsan City, Gyeongnam, next to Busan, which is creating a buzz. The protagonist is ‘Doosan We’ve The Zenith Yangsan,’ a large-scale apartment complex built by Doosan Construction in Yangsan City, Gyeongnam.

‘Doosan We’ve The Zenith Yangsan’ consists of a total of 10 buildings, ranging from 2 basement floors to a maximum of 30 floors, with 1,368 apartment units (exclusive areas of 59㎡ and 84㎡). The number of units by exclusive area is △59㎡A 337 units, △59㎡B 158 units, △59㎡C 179 units, △84㎡A 526 units, △84㎡B 84 units, and △84㎡C 84 units.

‘Doosan We’ve The Zenith Yangsan’ boasts excellent location conditions and significant development prospects, attracting attention not only from actual buyers but also from investors.

‘Doosan We’ve The Zenith Yangsan’ offers excellent transportation accessibility. By using Seokgyero and National Road No. 35 located right next to the complex, residents can quickly move toward Yangsan New Town. Also, access to the Gyeongbu Expressway is easy via Yangsan IC and Tongdosa IC. Furthermore, the Seoul Junction (JC) allows entry to the Hamyang-Ulsan Expressway.

Public transportation conditions will also improve significantly in the future. Once the Yangsan Urban Railway (from Nopo Station to Bukjeong Station, scheduled to open in 2024) is launched, accessibility to Busan, including Yangsan New Town, will greatly improve. This line connects with Busan Metro Line 2. Additionally, this apartment is expected to benefit from the Southeast Regional Circular Metropolitan Railway (planned), which starts from Changwon in Gyeongnam, passes through Gimhae and Yangsan, and extends to Ulsan. This line will also connect with the Busan-Yangsan-Ulsan Metropolitan Railway (planned) and the Yangsan Urban Railway. For residents’ convenient external transportation, a shuttle bus service within the complex is also planned.

The road network within Yangsan City will also be extensively expanded. Yangsan City is promoting the development of a bypass road for National Road No. 35 (planned). The city plans to first include the Dong-myeon Gasan-ri to Hogye-dong section in the 5th National and Local Road Five-Year Plan (2021?2025), and the Hogye-dong to Habuk Yongyeon-ri section will be included in the 6th National and Local Road Five-Year Plan (2026?2030). Once this road opens, traffic congestion, which has been concentrated on National Road No. 35, is expected to be greatly alleviated by dispersing traffic volume. Not only the railway network but also the road network within Yangsan City is planned to be expanded.

Yangsan City is a non-regulated provincial area where, after six months of subscription to a housing subscription savings account, not only the head of household but also household members can apply for first-priority subscription. The re-winning restriction rule does not apply. Moreover, homeowners can also apply for first-priority subscription, and the proportion of the point system is low. Since it is a non-regulated area and does not fall under a provincial metropolitan city, resale is possible immediately after the contract.

The model house opened its doors on the 7th (Friday) and has officially started sales. The model house is located in the Yangsan City area. To prevent the spread of the COVID-19 virus, the model house operates as a clean model house with a prior reservation system. Reservations can be made through the website, and only those who have made reservations can visit the model house.