Following Successive Development Boons in Yeosu, Korea Adellium Praha Expected to Benefit as a Prime Complex

Yeosu Hanguk Adelium Praha Model House Scheduled to Open in July

The terrace townhouse complex 'Yeosu Korea Adellium Praha,' located in Orim-dong, Yeosu-si, Jeollanam-do, is raising expectations as a beneficiary of Yeosu's development. Having secured high-quality terrace townhouse living and a convenient residential environment, it is attracting attention from actual buyers due to development issues and its designation as a non-regulated area, which is expected to significantly increase its future value.

Yeosu Korea Adellium Praha is a terrace townhouse complex with a total floor area of approximately 9,600 pyeong, consisting of 2 basement floors and 4 above-ground floors, with a total of 186 households. The exclusive area is composed of a single unit size of 84㎡.

Yeosu, where Korea Adellium Praha is located, is renowned as one of the representative cities in the Honam region. In fact, it is one of the economically strong cities due to having the largest fisheries industry in Jeollanam-do and one of the top tourism industries nationwide. Furthermore, since being selected as the host city for the 2012 Marine Expo, it has established itself as the top tourist city in Jeollanam-do. According to statistics, over the past year, Yeosu ranked first in tourism revenue within Jeollanam-do, surpassing Suncheon, Gokseong, Jindo, and Mokpo.

Based on this infrastructure, Yeosu City is actively pursuing development projects. Representative projects include the Yeosu-Namhae Undersea Tunnel project, Gyeongdo Marine Tourism Complex development, Yeosu Manheung District development, and Gukdong Urban Regeneration New Deal project.

The Yeosu-Namhae Undersea Tunnel project involves constructing an undersea tunnel connecting Yeosu and Namhae, which is expected to reduce travel time to about 10 minutes upon completion. Scheduled to begin construction in the first half of next year, once completed, it is anticipated to improve transportation convenience for local residents and revitalize tourism in the Yeosu area. The Gyeongdo Marine Tourism Complex development project aims to invest approximately 1.5 trillion KRW in the Gyeongdo district of Yeosu-si, Jeollanam-do, to develop a world-class tourism complex.

The Gukdong Urban Regeneration New Deal project, running from last year until 2025 with a budget of 63.4 billion KRW, aims to attract external population inflow. The Yeosu Manheung District development project targets developing the Pyeongchon Village area in Manheung-dong, Yeosu-si, into a clean residential land combining urban and rural functions by 2024. With these development projects unfolding one after another, there is a growing expectation that the future value of residential complexes in the Yeosu area will surge.

Yeosu Korea Adellium Praha boasts solid competitiveness with differentiated residential design alongside the development benefits in the Yeosu area. It meets actual living needs by highlighting strengths such as forest scenery surrounding the complex, private healing that enjoys both elegance and leisure, and the spaciousness of terrace designs (in some units).

The Yeosu Korea Adellium Praha complex applies an innovative 4-BAY floor plan (in some units). Additionally, it features specialized spaces with ample storage, including pantries and dressing rooms. Some units also have duplex designs, which are praised for securing both practicality and emotional appeal.

Moreover, the complex is well-equipped with highly accessible transportation networks. In fact, it is adjacent to Jwasuyeong-ro and Chungmin-ro, allowing quick access to the Yeosu National Industrial Complex and throughout Yeosu. The presence of shopping and cultural infrastructure such as E-Mart, Jinnam Stadium, Yeosu City Hall, and libraries also offers a high-quality living environment, which is another merit.

Furthermore, with the Jeollanam-do Yeosu area being removed from the regulated area designation, the sales appeal of Korea Adellium Praha has increased. According to the Ministry of Land, Infrastructure and Transport, at the recent 2nd Residential Policy Deliberation Committee in 2022, it was decided to lift the regulated area status for 11 local cities, counties, and districts, including Yeosu-si, Jeollanam-do. When an area is deregulated from a regulated to a non-regulated area, resale restrictions are lifted, allowing sales at any time, and the obligation to move in after registration is removed, enabling tax exemption benefits. Also, it is possible to switch from household head to household member status, providing a positive advantage in subscription conditions. The acquisition tax for second homes is also excluded from heavy taxation, being reduced from the existing 8% to 1-3%.

Additionally, it is subject to reductions in comprehensive real estate tax rates for multi-homeowners, adjustment of capital gains tax exemption criteria from 2 years of residence to 2 years of ownership, allowance of two mid-term loans per household, lifting of the one-home disposal condition for balance loans, exemption from submission of funding plans, and allowance of up to 30% long-term holding special deduction for multi-homeowners (up to 80% for single-homeowners).

A representative of Yeosu Korea Adellium Praha stated, “Yeosu Korea Adellium Praha is a beneficiary complex with future value, linked to development issues such as the Yeosu National Industrial Complex and Gwangyang Bay Free Economic Zone, which are called the future value of Yeosu City, as well as the potential value of the tourist city Yeosu.” He emphasized, “With Yeosu City being deregulated from the regulated area, it is expected that investment value will greatly increase due to unlimited resale and eased loan regulations in the future.”

Meanwhile, the Yeosu Korea Adellium Praha model house is scheduled to open in July.