Attractive Pyeongchang Supply Complex in Gangwon-do with Freedom from Subscription, Loan Regulations, and Resale Restrictions
As the government's real estate regulations expand beyond the metropolitan area to local regions, the real estate market in Pyeongchang-gun, Gangwon-do, a non-regulated area, is gaining momentum.
Pyeongchang, a non-regulated area, is relatively free from the strengthening subscription and loan regulations, and also has lower tax burdens such as capital gains tax and property tax. Additionally, since pre-sale rights can be resold immediately, it is attracting attention not only from actual buyers but also from investors.
According to data from Real Estate 114 Reps, housing prices in Pyeongchang-gun began to surge rapidly in 2018. The price per 3.3㎡ in Pyeongchang was 4.02 million KRW in 2017, but rose to 6.95 million KRW just one year later in 2018. This marked the first time that the average housing price in Pyeongchang exceeded the average for Gangwon-do, and since 2019, Pyeongchang has ranked first in price per 3.3㎡ among all regions in Gangwon-do.
In particular, the real estate market in Jinbu-myeon, which has consecutively received major positive developments even within Pyeongchang, is showing remarkable signs. According to Real Estate 114 Reps, housing prices in Jinbu-myeon rose by 15.39% last year, recording the second highest increase in Gangwon-do. Considering that this price increase rate is comparable to that of Joyang-dong, Sokcho-si (18.88%), which has a much larger scale, the future value of Jinbu-myeon in Pyeongchang-gun stands out even more.
Industry experts analyze that the Pyeongchang real estate market entered a boom period starting in 2018 due to the expansion of transportation networks such as highways and high-speed railways influenced by the Pyeongchang Winter Olympics. While other regions have slowed down due to regulations, Pyeongchang, as a non-regulated area, has rather regained vitality.
A real estate specialist stated, “The Pyeongchang real estate market, revitalized after the Pyeongchang Winter Olympics, continues to gain steady popularity as a non-regulated area,” adding, “Recently, the value of Jinbu-myeon, where positive developments such as the KTX Jinbu Station area development project and the planned Peace Data Center are ongoing, is rising day by day.”
Meanwhile, Dongseo Construction Co., Ltd. is preparing to supply ‘Pyeongchang Jinbu Wellaum The First’ in Pyeongchang in June, attracting the attention of actual buyers.
‘Pyeongchang Jinbu Wellaum The First,’ which enjoys both the future value of Jinbu-myeon and living infrastructure, is located in Pyeongchang-gun, Gangwon-do. The complex will consist of 4 buildings, from basement level 1 to 25 floors above ground, with exclusive areas ranging from 84 to 122㎡, totaling 265 households.
‘Pyeongchang Jinbu Wellaum The First’ is expected to enjoy the future vision of Jinbu-myeon, where major positive developments continue. First, the KTX Jinbu Station area development project is underway, and this complex, located within 1 km of Jinbu Station, will directly benefit from the development.
Additionally, the entire Jinbu-myeon area is planned to be developed as the world’s first AI city. By linking the construction of the Peace Data Center and the Pyeongchang Peace AI City project, AI-related public institutions and companies are expected to move into Jinbu-myeon, with anticipated employment of 1,000 people and an influx of 8,500 residents. Accordingly, job creation and economic revitalization are expected, and Jinbu-myeon is likely to be developed into a mini new town, generating strong interest in the newly constructed ‘Pyeongchang Jinbu Wellaum The First.’
Moreover, ‘Pyeongchang Jinbu Wellaum The First’ offers convenient transportation, with access to Seoul within an hour by KTX, as well as excellent connectivity through Dongseo Expressway Jinbu IC, Gyeonggang-ro, and Jinbu Intercity Bus Terminal. In addition, the complex is surrounded by convenient facilities such as Hanaro Mart, Jinbu Residents’ Sports Park, and a cultural center, and is a safe school zone with Jinbu Elementary, Jinbu Middle, and Jinbu High Schools within walking distance.
Meanwhile, the model house is located in Pyeongchang-gun, Gangwon-do.
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