The Subscription Restrictions for 'Nonsan I-Park' in Downtown Nonsan, Chungnam, Ahead of Sale Have Been Lifted

As the entire area of Nonsan City in Chungnam is removed from the regulated areas, interest in the local pre-sale market is growing. This is because buyers are expected to advance their timing for purchasing homes as they escape various regulatory influences such as subscription, loans, resale, and taxes.

According to the results of the government’s review of regulatory area adjustments announced on the 21st, a total of 41 locations, including the five major metropolitan cities of Busan, Daegu, Gwangju, Daejeon, and Ulsan, as well as Cheongju in Chungbuk, Cheonan, Nonsan, and Gongju in Chungnam, and Jeonju in Jeonbuk, were removed from the regulated areas.

Since the dong (neighborhood) areas of Nonsan City, excluding eup and myeon areas, were previously designated as regulated areas, this measure is expected to activate the influx of buyers into the subscription market centered around the city of Nonsan. The first-priority subscription requirements have been significantly relaxed, and loan limits have increased, allowing not only actual buyers but also outside investors to enter.

In fact, in non-regulated areas, anyone over 19 years old who has held a subscription savings account for 6 or 12 months can qualify as first priority regardless of whether they are the head of the household or a household member and regardless of home ownership. Especially, while all household members in regulated areas must have no winning history within 5 years, there is no re-winning restriction in non-regulated areas, greatly increasing the chances of winning.

Financial burdens are also greatly eased. In regulated areas, the loan-to-value ratio (LTV) for mortgage loans for non-homeowners is limited to 50% for homes under 900 million KRW and 30% for homes over 900 million KRW, whereas in non-regulated areas, it is applied up to 70%. Additionally, the resale of pre-sale rights, which was restricted up to 3 years until ownership transfer registration, is now possible immediately upon contract, and acquisition tax surcharges have changed from owners of two homes to owners of three homes.

The lottery ratio has also increased, raising the chances of winning for buyers with low scores. In non-regulated areas, the lottery ratio for units under 85㎡ has increased from the existing 25% to 60%, and for units over 85㎡, it has increased from 75% to 100%. Moreover, while regulated areas require disposal of existing homes when applying for the lottery, this condition has been removed in non-regulated areas, significantly lowering the subscription threshold for buyers.

The sales market, which has been rising for 21 consecutive weeks, is expected to see even greater increases. According to weekly apartment price increase data released by the Korea Real Estate Board, apartment prices in Nonsan City have been rising for 21 consecutive weeks since February 14 this year. This is the only figure among cities and counties in Daejeon, Sejong, Chungnam, and Chungbuk regions.

An industry official said, “The dong units of Nonsan, which were previously regulated areas, have seen high price increases due to strong buyer preference, making them regulated areas until now,” adding, “With the removal from the regulated areas, demand is expected to focus on complexes that have both non-regulated premiums and brand premiums.”

Meanwhile, HDC Hyundai Development Company plans to pre-sell ‘Nonsan I-Park’ in Nonsan City, Chungnam, which has been removed from the regulated areas. This complex is the first new apartment supply in Nonsan after the regulatory easing implementation (September 26), attracting interest from both actual buyers and investors expecting non-regulated premiums.

‘Nonsan I-Park’ is planned to be built in Daegyo-dong, Nonsan City, Chungnam, with 7 buildings ranging from 2 basement floors to 24 floors above ground, totaling 453 units with exclusive areas ranging from 84 to 158㎡. The detailed unit breakdown is ▲84㎡A 151 units ▲84㎡B 146 units ▲84㎡C 82 units ▲106㎡ 71 units ▲152㎡PH 2 units ▲158㎡PH 1 unit.

This is the first introduction of the I-Park brand in Nonsan City and the first application of single-floor terrace-type penthouses in Nonsan. Additionally, two guest houses will be provided to enhance residents’ convenience. Furthermore, all units are mainly south-facing to maximize lighting and ventilation, and the supply includes the highly preferred 4Bay 'plate-type' layout, 2-sided open 'tower-type' layout, and 'terrace-type penthouse,' broadening buyers’ choices. Also, with ample storage space designs such as dressing rooms, pantries, and multipurpose rooms (except some units), it will differentiate itself and maximize space utilization.

‘Nonsan I-Park’ is located in Daegyo-dong, the original downtown area of Nonsan City, within a dense apartment residential complex, allowing residents to use various already established living infrastructures immediately upon moving in. Moreover, a large-scale residential town with a total of 2,202 units, including this complex, is expected to form nearby, transforming the area into a ‘new residential area.’

Shopping and convenience facilities are abundant. Within walking distance are Hwaji Central Market and the central commercial district, allowing convenient access to shopping, hospitals, financial institutions, and various other facilities. Within a 1 km radius of the complex are public Nolmwe Kindergarten, Dongseong Elementary School, and Banwol Elementary School, with Nonsan Middle School, Saint Paul Girls’ Middle and High School, and Nonsan Technical High School nearby. The Nonsancheon Riverside Park is located near the complex, providing ample space for walking and leisure activities. Additionally, neighborhood parks such as Nonsan Bridge Children’s Park and Park No. 2 are close by, making the residential environment pleasant.

A 5-minute walk leads to KTX Nonsan Station and city bus stops, and nearby are Nonsan Intercity Bus Terminal and Express Bus Terminal, making public transportation convenient. Also, the Nonsan-Cheonan Expressway, Seononsan IC, and National Routes 4 and 23 are easily accessible, providing a wide-area transportation network for convenient travel to other regions.

According to the ‘4th National Railroad Network Construction Plan’ announced in June last year, KTX Nonsan Station will be part of two newly promoted railway lines: △Chungcheong Regional Metropolitan Railroad Phase 3 project (Gang-gyeong to Gyeryong) and △General Railroad High-Speed Project (Honam Line Gasuwon to Nonsan), improving wide-area accessibility to Daejeon City, Cheongju Airport, and more. On August 24, the general railroad high-speed project passed the preliminary feasibility study, accelerating the project’s progress.

Meanwhile, ‘Nonsan I-Park’ is scheduled for pre-sale in October.