With Cheongju City in Chungcheongbuk-do being removed from the regulated areas, the real estate market is gaining momentum.
According to the results of the 3rd Residential Policy Deliberation Committee announced by the Ministry of Land, Infrastructure and Transport on September 21, the government lifted the regulation on all local areas except Sejong and some parts of the metropolitan area. A total of 41 areas, including local cities such as Cheongju in Chungbuk, Cheonan, Nonsan, and Gongju in Chungnam, Jeonju in Jeonbuk, Pohang in Gyeongbuk, Changwon in Gyeongnam, the five major metropolitan cities, and five outer regions of Gyeonggi Province, have been reclassified as non-regulated areas.
The industry predicts that demand will actively flow into the real estate markets of the areas recently removed from the regulated zones. Due to the easing of regulations, the threshold for first-priority subscription has lowered, and restrictions such as resale limitations and re-subscription bans have been relaxed, making it easier for outside investors to enter.
Moreover, the financial burden has decreased. Previously, in regulated areas, the loan-to-value ratio (LTV) was limited to 50% for houses under 900 million KRW and 30% for houses exceeding 900 million KRW, whereas in non-regulated areas, the LTV can be applied up to 70%. Additionally, the reduction in tax burdens such as comprehensive real estate tax, capital gains tax, and acquisition tax is also noteworthy.
A real estate expert stated, “As the real estate market entered an adjustment phase this year, nationwide buyer sentiment has been subdued, but the announcement of deregulation is expected to reverse the mood. Especially, among the areas removed from the regulated zones, local small and medium-sized cities can enjoy more relaxed benefits compared to metropolitan cities and the capital area, so real estate investors are expected to flock to these regions.”
Meanwhile, ‘Osong Station Dong-A Like Ten,’ which is conducting a special sale in October in Cheongju City, Chungbuk, is also attracting attention from both actual buyers and outside investors due to its non-regulated premium.
This complex, supplied as private rental apartments in 2018, began early sale conversion in the first half of this year and will conduct a special sale of vacant units starting October 4. It offers an opportunity to own a home at a reasonable price in the 300 million KRW range, and due to deregulation, owners can benefit from tax exemption if held for just two years.
Osong Station Dong-A Like Ten is noted for its excellent location. The nearby Osong Station provides access to Seoul in about 40 minutes via the KTX Gyeongbu Line and SRT Suseo High-Speed Railway, and Sejong City is also quickly reachable via BRT. The Pyeongtaek-Osong double-track project (scheduled for completion in 2027) and the Seoul-Sejong Expressway (scheduled for completion in 2024) will further improve transportation conditions.
Additionally, the complex boasts an excellent educational environment with multiple schools such as Osong Elementary, Osong Middle, and Osong High School nearby, as well as planned kindergarten and elementary and high school sites. Osong Lake Park is also close by. Living convenience facilities such as Osong Multipurpose Gymnasium and the planned Osong Conflex, along with the Osong Station area transit-oriented development project, are expected to enhance residential infrastructure.
It is a workplace-proximate complex with easy commuting to Osong 1 Complex, Oksan Industrial Complex, and Cheongju General Industrial Complex. Upon completion of the Osong Biopolis District development, it is expected to become a hub of advanced industries linked with Osong Life Science Complex and the 3rd National Life Science Industrial Complex.
Osong Station Dong-A Like Ten secures wide distances between buildings, ensuring excellent sunlight and views. Depending on the type, it applies a 4BAY cross-ventilation structure favored by actual buyers and includes dress rooms and pantries to maximize space utilization. In addition, abundant landscaping facilities such as walking trails and playgrounds are arranged, and one-stop community facilities including a golf practice range, fitness/GX room, childcare facilities, a small library, and a senior citizens’ center have been created to maximize residential satisfaction.
Osong Station Dong-A Like Ten is located in Osong-eup, Heungdeok-gu, Cheongju City, Chungcheongbuk-do, consisting of 10 buildings from basement level 1 to a maximum of 25 floors, with a total of 970 households ranging from 77 to 84 square meters in exclusive area.
A promotional center is in operation, and contracts will begin on October 4.
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