Non-regulated areas continue to be popular in the housing sales market. In the first quarter of this year (January to March), out of 153 housing types that received subscription applications in non-adjustment target areas, 110 housing types were fully subscribed in the first priority round. The subscription closing rate reached 71.9%.
This hot demand in non-regulated areas is mainly due to the government's designation of additional adjustment target areas in December last year, which effectively placed about half of the country's land under regulatory influence. According to the Ministry of Land, Infrastructure and Transport on the 29th, currently, 49 areas are designated as speculative overheated districts, and 111 areas are adjustment target areas, meaning nearly half of the 236 cities, counties, and districts nationwide are under regulation.
As the scarcity of areas avoiding regulation has been highlighted due to the government's expansion of regulated areas, recently supplied housing complexes in regions such as Asan and Yangpyeong, which previously had long sales periods, have succeeded in closing first priority subscriptions with high competition rates.
For example, POSCO Construction's 'The Sharp Centro,' supplied in March in Asan City, a non-regulated area, attracted 26,822 applicants for 508 units, closing first priority subscriptions with a high average competition rate of 52.8 to 1. The ‘Hillstate Mojong Neoluce,’ supplied in the urban development zone of Mojong-dong, Chungnam (Asan Mojong 1 District), recorded a highest competition rate of 127 to 1 in the May subscription and closed all types in the first priority round.
Real estate experts analyze that the popularity is due to an environment where both actual demand and investment demand inevitably gather. Currently, adjustment target areas allow smaller loan amounts compared to non-regulated areas, while non-regulated areas permit subscription even for homeowners and have no restrictions on re-subscription, leading to rapid inflow of investment demand.
Amid this, KB Real Estate Trust plans to supply ‘Mojong Reeshuville The Sky’ in August in Asan City, a non-regulated area with excellent future value.
The complex will be developed on a scale of 292 households in total, including 268 apartments with exclusive areas of 59 to 67㎡ from basement level 5 to ground level 40, and 24 officetels with exclusive areas of 49 to 84㎡. Homeowners can also apply, and there are no resale restrictions.
Mojong Reeshuville The Sky is conveniently located near Onyang Oncheon Station and the planned Punggi Station on Subway Line 1, Asan Intercity Bus Terminal, Cheonan Asan Station (KTX), and the planned Asan IC, making travel to Seoul, the metropolitan area, and nationwide easy. Additionally, access to Asan downtown and Cheonan via Oncheon-daero is smooth, and the Seohaean Expressway, Gyeongbu Expressway, National Route 21, and National Route 45 provide convenient access to the metropolitan area and neighboring cities such as Cheonan and Dangjin.
Furthermore, shopping facilities such as E-Mart and Lotte Mart are available, along with lifestyle convenience infrastructure including Lotte Cinema, Asan Chungmu Hospital, Daejeon District Court Cheonan Branch Asan City Court, Hanmaeum Baseball Stadium, and Yi Sun-sin Sports Complex.
Mojong Reeshuville The Sky is also located near ecological parks such as Changpo Gunrakji Ecological Park and Asan Gokgyocheon Camping Site, offering a natural and pleasant green environment for leisure activities.
This area is a workplace-residence proximity complex with quick access to industrial complexes such as Samsung Display City, Asan Tangjeong Techno General Industrial Complex, and Hyundai Motor Asan Plant. Samsung Electronics plans to invest 13 trillion won in the Samsung Display Asan plant by 2025, expected to create about 80,000 jobs, contributing to abundant population inflow and the urban development of Asan City.
A sales official stated, “In a situation where low interest rates continue, interest in non-regulated areas with relatively higher loan limits compared to regulated areas is ongoing, attracting both actual demanders who want to own a home and investment demand simultaneously. Mojong Reeshuville The Sky is gaining more popularity due to its proximity to the metropolitan area and excellent accessibility nationwide.”
The model house for ‘Mojong Reeshuville The Sky’ is scheduled to open in the Asan area in August.
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