- The Optimal Investment Destination Representing Gyeongju Beyond Real Estate Regulations
- No Subscription Savings Account Required, Available for Ages 19 and Over, Exempt from DSR Loan Strengthening
Although various real estate regulations and concerns about oversupply are anticipated, the balloon effect appearing in local small and medium-sized cities, which are exempt from regulations amid the continuous rise in apartment prices and various real estate regulations such as resale restrictions, is still having a ripple effect.
In particular, the Gyeongju area is a non-regulated region where subscription is free and there is no regulatory burden, attracting the attention of buyers.
Accordingly, ‘Gyeongju Elcrew Heripark’ by Daewoo Shipbuilding & Marine Engineering Construction, which opened its model house on the 29th of last month, is a new apartment introduced in Bulguk-dong after 6 years, drawing hot interest not only from Gyeongju citizens but also from buyers.
Resale is possible immediately after contract, it is not subject to DSR regulations, and various benefits are provided such as a fixed contract deposit of 10 million KRW (first payment), full interest-free loans for intermediate payments, and free balcony expansion. This has led to many inquiries and visits to the model house by real buyers wishing to own a home.
Notably, it is excluded from the strengthened DSR loan application effective from January 2022. In addition, acquisition tax surcharges apply only from the time of acquiring a third house, and capital gains tax surcharges do not apply to this property. Furthermore, for single-homeowners, non-taxation can be applied by holding the property for 2 years instead of living in it for 2 years, which is interpreted as an excellent opportunity and a key point for successful investment.
Gyeongju Elcrew Heripark consists of 6 buildings ranging from 10 to 14 floors above ground and 2 basement floors, with 337 apartment units (59㎡, 84㎡) and 39 officetel units (37㎡, 47㎡), all designed as practical small to medium-sized layouts. The complex is mainly south-facing with a 4BAY plate-type structure, reflecting current trends in design, various community facilities, and maximized service areas with wider and more spacious storage spaces, creating an innovative spatial composition that captivates attention and sets a new standard for space by emphasizing trendy structures and convenience, offering an unprecedented optimal space premium.
It boasts the locational privilege of being within walking distance to the clean forest zone at the foot of Toham Mountain and the world cultural heritage site Bulguksa Temple, recognized as an optimal beneficiary area enjoying the benefits of eco-friendly nature as well as close proximity to historical cultural heritage.
The regional advantage of sharing the Bulguk-dong living area, where Bulguksa commercial district and various convenience facilities can be enjoyed nearby, is fundamental. It is also a transportation hub connecting the East Sea Expressway through National Routes 4 and 7 and Namgyeongju IC, linking the Uldong Industrial Complex area with Ulsan and Pohang more closely and quickly. It is attracting attention as a fast residential area near workplaces for employees of nearby public enterprises and industrial complexes.
Meanwhile, the model house offers various gifts such as home appliances through a lottery for visitors, and an event will be held to present golden keys to contract customers on a first-come, first-served basis.
The move-in date for ‘Gyeongju Elcrew Heripark’ is scheduled for April 2024.
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