- Ministry of Land Reflects Maintenance Project Costs and Material Price Increases in Construction Costs... Sale Prices Expected to Rise 1.5~4.0%
- Pre-sold Complexes Unaffected by Revision, 'Lakefield Unjeong Weverzen' Draws Attention
According to the government's announced reform plan for the price ceiling system on pre-sale prices, an increase in pre-sale prices for new housing complexes has become a foregone conclusion.
On the 21st, the Ministry of Land, Infrastructure and Transport announced that costs necessarily incurred in housing maintenance projects will be reflected in the pre-sale prices, and the rise in raw material costs will be included in construction costs. According to a simulation commissioned to the Korea Real Estate Board, apartment pre-sale prices subject to this reform are expected to rise by approximately 1.5% to 4%.
As a result, a strategy to secure prime complexes with confirmed pre-sale prices is emerging as a reasonable way to purchase a home. This is because complexes that have already completed pre-sale price calculations are not affected at all by the newly revised pre-sale price calculation standards.
Real estate experts also agree that it is better to focus on prime complexes with pre-sale prices confirmed early rather than newly pre-sold complexes. One real estate expert explained, “The longer you hesitate on the timing of purchase, the more you will end up buying with the burden of higher pre-sale prices.”
Meanwhile, ‘Lakefield Unjeong Weaverzen,’ a complex with pre-sale prices already confirmed, is currently offering units on a first-come, first-served basis. ‘Lakefield Unjeong Weaverzen’ is being constructed in Ilwon with a total of 164 units, ranging from basement level 1 to 27 floors above ground, with exclusive areas of 83A/83B㎡. This complex has gained recognition and preference to the extent of winning the Grand Prize in the High-End Officetel category at the ‘2022 Customer Love Brand Awards.’
Since the pre-sale prices of ‘Lakefield Unjeong Weaverzen’ were confirmed early, it is considered a complex that minimizes financial and loan burdens compared to new complexes entering the market after the reform of the pre-sale price ceiling system.
For this complex, only 35 million KRW, which is 10% of the pre-sale price as a deposit, needs to be paid, and the remaining deposit can be arranged through loans. Additionally, a 60% interest-free benefit on the interim payment is provided. The interest-free benefit on the interim payment typically means that the construction company or developer bears the interest on the interim payment loan, which is 60% of the pre-sale price. Furthermore, unlike existing real estate products, since the resident recruitment announcement was made in 2021, it is exempt from the DSR (Debt Service Ratio) regulations.
The various internal services provided by the construction company also attract attention. Built-in appliances such as five system air conditioners (district cooling fan coil units), a three-burner hybrid cooktop, a dishwasher, four Bespoke appliances (refrigerator, freezer, kimchi refrigerator, temperature-controlled cabinet), and wireless APs are all provided free of charge.
Yeongjin General Construction, responsible for the construction of ‘Lakefield Unjeong Weaverzen,’ is a mid-sized construction company recognized for its excellent construction capabilities, having undertaken projects such as the Busan Gwangandaegyo Bridge in 2002, the Haeundae Jungdong Ville Ocean Officetel in 2016, and the new construction of Diebs Apartment in Geumgok-dong in November 2018.
The complex’s product features are also excellent. It plans to introduce a 4-bay cross-ventilation 3-room floor plan favorable for lighting and ventilation in all units, and apply specialized designs such as dressing rooms, pantries, and ample storage space. Advanced systems such as home networks, unmanned security, and unit ventilation systems will also be introduced to provide a more comfortable and convenient living environment. Customized specialized designs will be implemented in the penthouses on the top floors.
The surrounding area is equipped with all the living infrastructure that enhances quality of life. The complex is located in the central commercial district of Unjeong New Town, with nearby amenities including E-Mart and Homeplus. Additionally, the Goyang Branch Paju District Court, Korea Legal Aid Corporation, post office, and Unjeong Health Center Healthcare Center are adjacent, providing various public service benefits. A ‘Starfield Village’ with complex shopping, cultural, leisure, educational, and childcare facilities is also planned near the project site.
Transportation conditions are excellent. Unjeong Station on the Gyeongui-Jungang Line in the metropolitan area is located within walking distance. Furthermore, once the GTX-A line (planned) is connected, it will be possible to reach Samsung-dong, Seoul, within 20 minutes, and transportation conditions are expected to improve further with the planned extension of Line 3.
Currently, ‘Lakefield Unjeong Weaverzen’ is accepting designated contracts for buildings and units on a first-come, first-served basis and is operating a model house.
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