Immediate Resale Possible Complex Gains Popularity... Hanshin Engineering's 'Geoje Hanshin The Hue' Launching Sales in August Draws Attention

- Complex Allowing Immediate Resale Upon Contract Draws Attention... Subscription Rush and Record-High Prices Continue
- First ‘Hanshin The Hue’ Branded Complex in Non-Regulated Area Geoje City, ‘Geoje Hanshin The Hue’ Gains Focus

As uncertainty in the real estate market increases, complexes where immediate resale upon contract is possible are gaining attention among buyers. This is because the real estate market is showing mixed trends nationwide, and although the government lifted regulations in some areas last month, most major regions remain restricted. Moreover, complexes that allow immediate resale upon contract enable small-scale investments, attracting both actual demand and investment demand.

According to Korea Real Estate Board’s Subscription Home, ‘Gumi Wonho Xi The Foret,’ which was offered for sale in June this year in Gumi-si, Gyeongbuk, a non-regulated area where immediate resale upon contract is allowed, received 20,054 first-priority subscription applications for a total of 458 units (excluding special supply). The average competition rate for this complex reached 43.79 to 1.

Similarly, ‘Chohyeoksindosi Ubora Mark Bridge,’ offered in May in Wonju-si, Gangwon, another non-regulated area, attracted 7,077 first-priority subscriptions for 253 units (excluding special supply), recording a competition rate of 27.97 to 1. ‘Gimhae Gusan Prugio Parkter,’ offered in May in Gimhae, Gyeongnam, also saw 8,350 first-priority subscriptions for 348 units, with an average competition rate of 23.99 to 1.

Industry insiders analyze that despite the mixed trends in the nationwide real estate market recently, these high subscription competition rates in these areas are due to their status as non-regulated regions allowing immediate resale upon contract and the low subscription thresholds, opening subscription opportunities to a wide range of demand.

A real estate expert explained, “As more buyers perceive the future real estate market outlook as uncertain, complexes where investment is possible immediately after paying the deposit are gaining popularity. Especially, as the trend of focusing on a single smart property has formed, branded complexes or those with one-stop locations continue to see their pre-sale rights increase in value by tens of millions of won.”

In fact, in non-regulated areas where resale is allowed, pre-sale rights are trading with premiums exceeding 100 million won, continuing a record-high rally. According to the Ministry of Land, Infrastructure and Transport’s actual transaction prices, the pre-sale right for a 125㎡ unit of ‘Pohang Xi Atherton,’ offered at the end of last year in Buk-gu, Pohang-si, Gyeongbuk, was traded this month at 803.5 million won, a premium of 33.6 million won over the original price of 769.9 million won for this type.

Additionally, the pre-sale right for an 84㎡A unit of ‘Wolseong Samjeong Green Core Edu Park,’ located in Dalseo-gu, Daegu, where regulations were lifted at the end of June, was traded last month at a record high of 629.2 million won. This amount is about 50.1 million won higher than the original price of 579.1 million won for this type.

Accordingly, attention is focused on new brand complex sales in core locations with one-stop infrastructure within Geoje, Gyeongnam, a representative non-regulated area where immediate resale upon contract is possible. ‘Geoje Hanshin The Hue,’ scheduled for sale in August, is a prime example.

‘Geoje Hanshin The Hue,’ the first ‘Hanshin The Hue’ brand complex by Hanshin Engineering & Construction in Geoje-si, is being developed in the Ajoo-dong area of Geoje-si, Gyeongnam. It consists of six buildings ranging from two basement floors to 25 above-ground floors, with a total of 547 apartments of 84㎡ and 99㎡. By unit size, it includes △157 units of 84㎡A △122 units of 84㎡B △123 units of 84㎡C △72 units of 99㎡A △73 units of 99㎡B, composed of popular medium-to-large types.

Geoje-si is a non-regulated area where immediate resale upon contract is allowed. Furthermore, anyone aged 19 or older who has held a subscription savings account for more than six months can apply, including multi-homeowners and household members, making the subscription threshold low. Moreover, since medium-to-large types have a higher proportion of lottery-based selection, applicants with low subscription scores can also increase their chances of winning. The 84㎡ type applies a 60% lottery system, and the 99㎡ type selects winners entirely by lottery.

Meanwhile, Geoje Hanshin The Hue boasts excellent one-stop location advantages with superior education and living conditions. Naegok Elementary School is located right in front of the complex, ensuring safe commuting for students. Daewoo Elementary School, the only private elementary school in Geoje-si, and the prestigious Geoje Middle and High Schools are also nearby, providing an excellent educational environment.

Moreover, through a contract with the leading domestic education brand Jongno M School, premium educational services will be offered within the complex with a 50% tuition discount for two years, positioning Geoje Hanshin The Hue as a leading education-specialized complex in the region. Additionally, within a 1.5 km radius, there are numerous marts, banks, hospitals, and academies concentrated in a commercial area centered on neighborhood businesses, enhancing living convenience.

Proximity to workplaces is also excellent. Okpo National Industrial Complex, where Daewoo Shipbuilding & Marine Engineering’s Okpo Shipyard is located (with 33,587 employees), is about a 5-minute drive away. Furthermore, Jukdo National Industrial Complex, home to Samsung Heavy Industries Geoje Shipyard (with 32,866 employees), is reachable within about 10 minutes by car.

The well-connected transportation network is also noteworthy. Through the nearby Songjeong IC, wide-area travel to Busan, Changwon, Gimhae, Tongyeong, and other cities is convenient. Within Geoje-si, the Ajoo Tunnel, Geoje-daero, and National Route 14 enable quick access to local living areas. Additionally, the new Ajoo-dong bypass lane, which allows quick exit before entering the Ajoo Tunnel on National Route 14, is expected to further improve traffic conditions.

Other major transportation developments are also anticipated. First, the Southern Inland Railway construction project, which will connect Geoje-si and Gimcheon-si, Gyeongbuk, by high-speed rail with a national budget of 4.8015 trillion won, is expected to break ground as early as 2024. Once this line opens, travel from Geoje to Seoul via KTX and SRT will take about 2 hours and 50 minutes.

Additionally, in February this year, the Ministry of Land, Infrastructure and Transport announced the final plan including the extension of the Tongyeong-Daejeon Expressway to Geoje in the ‘2nd Expressway Construction Plan.’ This project will extend 30.5 km of four lanes from Yongnam-myeon, Tongyeong-si to Yeoncho-myeon, Geoje-si, with a budget of 1.8811 trillion won, considered a long-awaited project for Geoje-si. Furthermore, with the Southeast New Airport being promoted on Gadukdo, connected to Geoje via the Geoga Bridge, the transportation environment is expected to improve dramatically.

‘Geoje Hanshin The Hue’ also offers excellent product quality befitting the symbolic first Hanshin The Hue brand complex in Geoje-si. It applies three-sided balconies (in some types) with excellent usable area and preferred slab-type layouts throughout, arranging the complex mainly facing south to maximize lighting and ventilation efficiency.

Geoje Hanshin The Hue plans to open a model house.