As efforts to establish a work-life balance culture continue at the individual, corporate, and government levels, the residential trend of ‘Multi-Habitation’ is spreading.
Multi-Habitation is a term combining ‘multi,’ meaning ‘multiple’ or ‘several,’ and ‘habitation,’ meaning ‘residence.’ It refers to a housing trend where people own two or more homes in different areas such as cities and rural regions and live in both. Not only has the number of people wanting to spend leisurely rest time in quiet places on weekends or holidays increased, but also the demand for local housing is rising due to the spread of this trend where people alternate between homes to enjoy both urban and rural lifestyles without the burden of fully relocating to farming or rural areas.
A real estate official said, “The Multi-Habitation trend is a result of more people wanting to spend relaxing time in quiet places on holidays due to the five-day workweek and rising income levels,” adding that managed apartment complexes are gaining high popularity because they are easy to maintain.
Tax relief policies on capital gains tax and comprehensive real estate tax for local housing have also contributed to the increase in demand for Multi-Habitation. Currently, in areas excluding the metropolitan area and regulated zones, if a house with a publicly announced price of 200 million KRW or less is held for more than three years, this house is excluded from the housing count when transferring a previously owned general house. The government is pushing to raise this threshold to 300 million KRW, which is expected to broaden choices further. When calculating the comprehensive real estate tax, policies are also being promoted to exclude houses priced at 300 million KRW or less in local areas outside the metropolitan area, metropolitan cities, and special self-governing cities from the housing count.
In this context, ‘Jeju The Hill Terrace,’ currently being sold in Aewol-eup, Jeju City, Jeju Island, is becoming a hot topic among buyers visiting Jeju for the Multi-Habitation trend. It offers a differentiated terrace-specialized design rarely seen in city apartments, promising a high-quality rural lifestyle.
Jeju The Hill Terrace is the first apartment project supplied by Kumho Construction, well known for the Kumho Eoullim brand, in the Jeju area, allowing residents to enjoy brand premium throughout the complex. It offers 20 types of floor plans ranging from 67 to 99 square meters, allowing selection according to needs.
All units feature a 4Bay plate-type structure with excellent lighting, ventilation, and airflow for a comfortable indoor environment, and a wide kitchen window (1.2m x 2.2m) that maximizes the view. Additionally, a ‘一’-shaped east-west building layout minimizes interference between units through master bedroom and living room windows, protecting privacy.
The fourth floor includes an attic, and except for the fourth floor, all units have wide terraces, which is another characteristic of Jeju The Hill Terrace. The terraces can be used for basic activities such as drying bedding or gardening, as well as for diverse uses like home cafes, home camping, and home picnics. Residents can enjoy fresh air inside their homes while viewing Hallasan Mountain and the Jeju sea without going outside. The fourth-floor units offer an attic and rooftop, allowing residents to experience a romantic lifestyle like in the movies. Furthermore, the complex provides free balcony expansions, enabling spacious use with minimal financial burden.
Also, since Jeju The Hill Terrace’s official price is yet to be set, it is expected to qualify for local housing tax benefits for houses priced under 300 million KRW based on the ratio of official prices to market prices of nearby occupied complexes.
Jeju The Hill Terrace is located in Aewol-eup, Jeju City, Jeju Island, consisting of 14 buildings from two basement floors to four above-ground floors, with 200 units sized 67 to 99 square meters. It is a large-scale terrace house complex located seven minutes by car from Nohyeong Five-way Intersection, providing access to lifestyle convenience facilities such as supermarkets, banks, and hospitals in the Shin-Jeju area.
Meanwhile, the ‘Jeju The Hill Terrace’ housing promotion center is currently operating.
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