Office-tel Lowest Price Guarantee Sale 'Gimpo Huutraum'

- Implementation of Minimum Price Guarantee for Officetels... Refund of Difference if More Expensive than Nearby New Officetel Sales
- More Effective than Post-Guarantee Systems like 'Price Safety Guarantee' and 'Contract Condition Guarantee'

The "Lowest Price Guarantee," commonly seen in large supermarkets, online shopping malls, travel agencies, and car rental companies, has now appeared in the real estate market, attracting attention.

The Lowest Price Guarantee is a system that refunds the difference when another product is priced lower than the currently sold product. Only products with strong price competitiveness can challenge the "Lowest Price Guarantee."

The real estate market is no different. Due to the high-interest rate trend and the impact of inflation, the real estate market has somewhat slowed down, changing customer needs. Rather than simply chasing investment returns as in the past, consumers now prefer products with practicality and substance.

The Lowest Price Guarantee is considered more effective than the previously common "Price Assurance Guarantee" or "Contract Condition Guarantee" in the pre-sale market. The Price Assurance Guarantee means that if a discount is applied to the remaining units, the changed price is retroactively applied equally to existing contract holders. The Contract Condition Guarantee applies any future changed sales conditions equally to existing contract holders.

In other words, both the Price Assurance Guarantee and Contract Condition Guarantee are merely agreements to resolve potential future issues. If there are no future "price discounts" or "contract condition changes," they are practically useless.

However, the Lowest Price Guarantee is different. From the developer's or construction company's perspective, implementing the Lowest Price Guarantee inevitably reduces sales revenue. Consumers benefit by being able to purchase at a lower price corresponding to the reduced revenue.

The residential officetel "Gimpo Huutraum," located in Gurae-dong, Gimpo-si, Gyeonggi-do, applies the Lowest Price Guarantee, which is absolutely advantageous to consumers.

This officetel will be built with 169 units (exclusive area 27~36㎡) from basement level 3 to ground level 10. It offers 133 practical 1.5-room units with separated kitchen and bedroom spaces and 36 two-room units suitable for 2-3 person households. The two-room units adopt a 3-bay innovative layout (36 units), similar to apartment floor plans.

The sale price of this officetel is not significantly different from officetels supplied 3-4 years ago. The 1.5-room unit price of "Gimpo Huutraum" (based on the 27㎡ exclusive area) is set in the high 10 million KRW range. Considering that the "Gimpo Hangang Truel Limited Edition" 28㎡ unit supplied in 2018 in the Gurae-dong area was priced around 190 million KRW, the price is almost the same as four years ago. Also, the "Gimpo The Lux Nine Building B" 39㎡ unit supplied around the same time in Gurae-dong was priced at 256.5 million KRW. The 36㎡ unit price of "Gimpo Huutraum" is also in the mid-to-high 200 million KRW range.

"Gimpo Huutraum" offers various financial benefits, so an effective price reduction can be expected.

Currently, with mortgage interest rates approaching 6% annually, this officetel provides interest-free benefits on intermediate payments, significantly reducing financial costs. Only 10% of the contract amount needs to be paid upfront, with no additional costs until the balance payment. Furthermore, if certain conditions are met at the time of contract, interest costs on the contract amount will be supported up to 10%.

Purchasing this officetel is also advantageous for multi-homeowners. Housing priced under 100 million KRW (including officetels) is not counted in the number of houses when calculating acquisition tax.

"Gimpo Huutraum" is expected to have strong demand due to its excellent location. Since Gurae-dong is developed as a complex business district, many office and commercial facilities are concentrated there. Especially, numerous companies are housed in the knowledge industry centers lined around the project site. If the development of Daegot District (E-CITY), promoted as an economic free zone, is completed, the value of "Gimpo Huutraum" is expected to increase further.

"Gimpo Huutraum" is located within the central commercial district, allowing access to abundant and diverse lifestyle convenience facilities. Nearby, there are also E-Mart, Megabox, and a planned Lotte Cinema.

The excellent transportation conditions are another strength. Yangchon Station on the Gimpo Gold Line is a 5-minute walk away, enabling quick access to Gimpo's old downtown and major cities in Seoul. The surrounding wide-area road network is well established. The Daegot IC (Incheon~Gimpo) on the Seoul Metropolitan Area 2nd Ring Expressway is nearby, allowing easy vehicle access to Cheongna and Songdo International City.

Also, using Gimpo Hangang-ro, which connects to Olympic-daero, one can quickly reach large business districts in Seoul such as Yeouido, Magok District, Sangam DMC, and Gangnam area.