With the sharp rise in construction raw material prices, it appears inevitable that the sale prices of newly supplied housing will increase.
According to the industry, on the 17th, the Korea Federation of Construction Associations (KFCA) submitted a petition demanding the implementation of a comprehensive emergency government-wide countermeasure in response to the soaring construction site material costs to related ministries such as the Ministry of Economy and Finance, the Ministry of Land, Infrastructure and Transport, and relevant standing committees of the National Assembly.
The price of cement, a major construction material, rose by 46.5%, from an average of 62,000 KRW per ton last year to 90,800 KRW in April, while the price of rebar surged 72.5%, from 690,000 KRW per ton at the beginning of last year to 1,190,000 KRW per ton in May this year.
An industry official said, "Concerns in the construction industry are growing due to the soaring material costs," adding, "It seems inevitable that the sale prices of housing supplied in the future will rise, leading to an increase in demand for existing sale complexes."
Amid expectations of rising sale prices in the second half of the year, 'Hanwha Forena Pohang 2nd Phase' is temporarily offering special sales in Buk-gu, Pohang, Gyeongsangbuk-do.
Hanwha Forena Pohang 2nd Phase has set the sale price for all units at a reasonable level in the 300 million KRW range. It offers new sales benefits including balcony expansion for all units, automatic sliding doors, basic application of imported kitchen furniture, and free provision of system air conditioners.
The complex consists of 6 buildings ranging from 2 basement floors to a maximum of 25 floors above ground, with a total of 350 units. All units are supplied in a single housing type of 84㎡, which is highly preferred by buyers, and designed in a 4Bay plate type.
The design maximizes usability through space selection tailored to residents' lifestyles. Depending on the floor plan choice, residents can select either an alpha room + pantry 1 room or a wide dining + pantry 2 rooms layout. Especially, choosing the wide dining option allows residents to experience the spacious kitchen layout typical of 40-pyeong units.
Community facilities within the complex include a daycare center, senior citizens' center, book house, study room, Pilates studio, G.X room, wellness center, and golf training center, providing diverse and high-quality community amenities to support various exercise and hobby activities within the complex.
Hanwha Forena Pohang 2nd Phase is located at the center connecting the Seonggok and Iin districts, part of the urban development project underway in Heunghae-eup, Buk-gu, Pohang, and is adjacent to KTX Pohang Station, offering excellent transportation networks. Using KTX, it takes about 30 minutes to Dongdaegu and about 2 hours and 30 minutes to Seoul. The planned KTX Pohang?Suseo line will significantly improve access to the Gangnam area of Seoul.
Yeongilman-daero, National Route 28, and National Route 7 are adjacent to the complex, making it easy to travel to major areas of Pohang, and access to the Iksan-Pohang Expressway via Seonggok IC is convenient. Additionally, the Donghaean Expressway (Pohang-Yeongdeok), scheduled for completion in 2023, is expected to further enhance the already excellent transportation infrastructure.
A sales representative for Hanwha Forena Pohang 2nd Phase explained, "With the increasing possibility of the US Giant Step, domestic interest rate hikes are inevitable. In a high-interest rate era, conditions such as deferred interest payments can impose a heavy interest burden, but Hanwha Forena Pohang 2nd Phase offers financial benefits including interest-free interim payments, which is its biggest advantage. Additionally, the ability to select specific units for contract is also a benefit."
Meanwhile, the move-in for ‘Hanwha Forena Pohang 2nd Phase’ is scheduled for July 2024, and the model house is currently open.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
