- Rising Housing Purchase Demand Driven by Investments from Major Corporations like Samsung, LG, SK Boosts Real Estate Market in Indong-dong, Gumi-si
- Advantage of Being a Non-Regulated Area Premium with Relative Freedom from Taxes and Loan Restrictions
Amid ongoing mixed trends in the real estate market, the real estate market in Gumi-si, Gyeongsangbuk-do, has shown continued buying demand.
According to KB Real Estate, the average apartment sale price in Gumi-si last month recorded 202.5 million KRW. This represents an approximately 10% increase compared to June of last year, and this year has seen a continuous upward trend without a single decline. The pre-sale market is also popular. Last month, thousands of applicants flocked to the subscription for ‘Gumi Indong Haneulchae The Urban Phase 2’ and ‘Gumi Wonho Xi The Foret,’ closing subscriptions amid fierce competition.
The strong real estate market in Gumi is analyzed to be due to large-scale investments by leading domestic companies, which have significantly increased housing purchase demand, as well as the fact that Gumi is one of the rare non-regulated areas nationwide, attracting attention from investors across the country.
In fact, this month LG Innotek signed an investment agreement to invest 1.4 trillion KRW by 2023 to install new production lines at its Gumi plant, a domestic base production site. Samsung Electronics also announced investment plans earlier this year for its Gumi plant, which includes ultra-high-speed communication semiconductors such as 5G and 6G communication modems. SK Siltron also decided to make a large-scale expansion investment in the Gumi area last March. Additionally, LG Chem is currently expanding the world’s largest cathode material factory, aiming for completion in September 2024, which is expected to create a large number of quality jobs in the Gumi area in the future.
Moreover, Gumi is a non-regulated area with no restrictions on re-winning, and the resale restriction period is immediately lifted upon contract unless the supply is from public land subject to the price ceiling system. The loan-to-value ratio (LTV) for mortgage loans is also applied up to a maximum of 70%.
Meanwhile, Kolon Global Co., Ltd. is currently selling ‘Gumi Indong Haneulchae The Urban Phase 2’ in Inui-dong, a prime location in Gumi. This complex is composed of 9 buildings ranging from 2 basement floors to 29 floors above ground, with 907 residential units of exclusive areas between 76 and 109 square meters.
The complex offers convenient access to various amenities such as large shopping facilities including E-Mart, Hanaro Mart, and Indong Market, as well as Megabox, Gumi Gangdong Hospital, Indong Administrative Welfare Center, and Gumi City Indong Library. In addition, several schools such as Indong Elementary School, Indong Middle School, and Indong High School are nearby, and it embraces a pleasant natural environment including Majeji Ecological Park and Cheonsaeng Mountain.
Its differentiated product features are also a strength. First, the complex includes a fitness center equipped with the latest exercise equipment for health management and an indoor golf practice range where residents can enjoy golf practice regardless of the weather. A caf? lounge offering a relaxing space for residents, a book caf? providing study and telecommuting spaces, and a children’s library serving as a reading and play area for children will also be established. Additionally, childcare facilities including a daycare center and a community care center, as well as a senior citizens’ center, will be provided.
In particular, Gumi Indong Haneulchae The Urban Phase 2 draws attention by offering various benefits that reduce residents’ burdens in addition to excellent product features. All units in the complex come with balcony extensions and corridor pantries, boasting higher space utilization compared to similar floor plans. Luxurious kitchen walls and artificial marble kitchen countertops are also standard. Notably, all types include a large master bedroom dressing room as standard, and the 109-type offers a choice between a dressing room or an alpha room, providing customized spaces tailored to consumer needs.
Gumi Indong Haneulchae The Urban Phase 2 is currently operating a model house, and official contracts will be conducted from Monday, August 1 to Thursday, August 4.
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