'Believe The Able' Offers Interest-Free Benefits on Interim Payments, Drawing Attention

As predictions emerge that the Bank of Korea may implement consecutive big rate hikes (big steps) through August following July, demand is focusing on complexes offering interest-free interim payment benefits.

Currently, the benchmark interest rates of South Korea and the United States are both at 1.75%. Even if the Bank of Korea raises its benchmark rate to 2.25% next month with a big step, if the U.S. Federal Reserve (Fed) takes an additional giant step (a 0.75 percentage point increase at once), the upper limit of U.S. rates will rise to 2.50%, reversing the benchmark interest rate gap between Korea and the U.S.

If U.S. interest rates surpass South Korea’s benchmark rate, foreign capital in the domestic market could outflow, so it is predicted that the Bank of Korea will accelerate the pace of rate hikes by taking big steps consecutively in July and August.

Given this situation, complexes offering interest-free interim payment benefits are highly valued in the market. In ‘interest-free interim payment’ complexes where construction or development companies bear the interest instead, contract holders do not have to pay any interest at all. Therefore, they are free from the impact of benchmark rate hikes and have the advantage of being able to establish stable financial plans.

On the other hand, complexes supplied with deferred interest payment on interim payments require residents to pay the accumulated interest at the time of move-in. During periods of rising interest rates like now, the interest to be paid later can snowball, potentially increasing the actual housing purchase cost.

An industry expert said, “With 3 to 4 benchmark rate hikes expected by the Bank of Korea by the end of the year, interest-bearing interim payment complexes are likely to face significantly increased interest burdens,” adding, “Complexes offering interest-free interim payment benefits, which bear no interest burden despite rate hikes, are expected to be highly valued in the market and see higher contract rates.”

Meanwhile, there is a residential complex in the ‘Mayongseong’ area offering interest-free interim payment benefits.

‘Belive The Able,’ located in Baekbeom-ro, Mapo-gu, Seoul, is a complex consisting of one building with 6 basement floors and 23 above-ground floors, comprising 299 urban lifestyle housing units (including rental) and 34 officetel units. This complex offers interim payment loans and interest-free benefits, significantly reducing the financial burden for buyers.

Additionally, it provides free options such as balcony expansion, ceiling-type system air conditioners, washing machines, kitchen ovens, and island dining tables, allowing contract holders to expect an effective reduction in the sale price.

While greatly reducing buyers’ cost burdens, the complex applies the sophisticated and luxurious product design unique to Shinsagae Construction’s residential brand ‘Belive’ both inside and outside.

The interior is composed of small to medium-sized units with exclusive areas of 38 to 49 square meters, catering to the recent significant increase in one- to two-person households. It also features a ceiling height of 2.6 meters, 30 cm higher than typical apartments, maximizing spatial openness and a sense of space. Furthermore, high-end living brands such as the German furniture brand ‘Nolte’ and the Italian faucet brand ‘Gessi’ are applied throughout, adding a touch of luxury.

A private community space is also established. An entire floor is dedicated to community facilities for residents, including a fitness center with private shower rooms, screen golf, private offices divided into independent spaces, and lounges for relaxation and leisure.

Concierge services that elevate the residential experience to a new level will also be provided. In particular, a concierge desk will be operated to offer various service reservations and support business and events, enabling residents to enjoy a refined lifestyle with hotel-style luxury.

Delicate designs specializing the first and top floors, which can be considered the beginning and end of the building, also attract attention. The lobby on the first floor is designed not just as an entrance space for residents but as a gallery lobby featuring artworks, while the top floor includes a rooftop garden with panoramic views. ‘Belive The Able’ is built on higher ground compared to nearby areas, allowing residents to enjoy unobstructed views from the rooftop ranging from the Han River to Namsan.

‘Belive The Able,’ which is receiving strong responses from buyers due to its interest-free interim payment benefits, is currently operating a model house.