Relieving Interest Rate Hike Concerns: 'Pungmu Station Prugio City' Sale

- Base interest rate this year rises about 5 times compared to last year... Commercial banks' mortgage loan rates approach upper 7% range
- Daewoo Construction offers interest-free interim payments and various free options... Significant reduction in cost burden expected

This year, consumer burdens in the housing sales market are increasingly intensifying due to the sharp rise in domestic base interest rates and soaring raw material prices.

The biggest obstacle in the housing sales market is the ‘interest rate hike.’ The base interest rate, which remained around 0.5% last year, has now jumped about fivefold to 2.5% as of October. Accordingly, the upper limit of mortgage loan interest rates at commercial banks is solidifying in the 7% range.

On the 12th, the Bank of Korea raised the base interest rate by 0.5 percentage points from 2.5% to 3.0%. This is the second-ever big step (0.5 percentage point) increase following July. Due to the base rate hike, there is a possibility that mortgage loan interest rates could exceed 8% within the year.

The rise in raw material prices is also a burden in the housing sales market, as increased raw material costs ultimately get passed on to the sale prices. Therefore, from a consumer perspective, it might be advantageous to secure existing housing units before prices rise further.

Construction companies are preparing various measures to reduce consumers’ financial burdens, such as offering interest-free benefits on interim payments or deferring the final payment for a certain period. Additionally, they are striving to attract customers by providing essential living options (such as system air conditioners and refrigerators) free of charge.

Daewoo E&C’s residential officetel ‘Pungmu Station Prugio City,’ currently being sold in Pungmu-dong (Pungmu 2 District), Gimpo-si, Gyeonggi-do, is no exception.

Daewoo E&C plans to significantly reduce consumers’ financial costs by offering interest-free benefits on interim payments. Buyers only need to pay a 10% deposit, with no additional payments required until move-in, freeing them completely from financial burdens.

Moreover, this complex provides basic amenities including system air conditioners, combi refrigerators, drum washing machines and clothes dryers, a 3-burner highlight electric cooktop (excluded if an induction cooktop is selected), and an electric oven (model changes apply if a paid option is selected).

With interest-free interim payments and various basic items provided, buyers effectively enjoy a reduction in the sale price.

Meanwhile, ‘Pungmu Station Prugio City’ is a residential officetel constructed as a single building with four basement floors and ten above-ground floors in Pungmu-dong, Gimpo-si, Gyeonggi-do. It consists of a total of 288 units with exclusive areas of 64㎡, 67㎡, and 82㎡. It also includes 32 retail units on the first floor.

This complex is located within walking distance of Pungmu Station on the Gimpo Gold Line, securing a prime walkable station location. Gimpo Airport Station, where the Incheon Airport Railroad, Subway Lines 5 and 9, and the Gimpo Gold Line intersect, is only two stops away. Using this route, residents can quickly access major business districts in Seoul such as Yeouido, Magok District, Gangnam area, and Seoul City Hall. Additionally, using Gimpo Hangang-ro, Olympic-daero, and the Metropolitan Area 1st Ring Expressway, it is convenient to travel not only to Seoul but also to Incheon and key areas in Gyeonggi-do.

With excellent access to Seoul and strong demand from business districts, stable rental income generation can be expected.

Furthermore, with abundant development prospects, significant population inflow is anticipated in the future. Nearby, the Pungmu Station Area Urban Development Project is planned, and the Inha University Gimpo Medical Campus and a 700-bed Inha University Hospital are scheduled for completion in 2027. Additionally, benefits are expected from the ‘Hangang Cinepolis (Industrial Complex),’ which is being developed as a business and residential complex city.

Various lifestyle convenience facilities are also available around the complex. ‘Pungmu Station Prugio City’ offers easy access to lifestyle amenities such as E-Mart Traders Gimpo branch, Homeplus Gimpo Pungmu branch, and CGV, as well as neighborhood parks like Seonsu Park and Saejangteo Park. Cultural facilities such as Gimpo Sports Complex, Pungmu National Sports Center, and Gimpo Citizens’ Hall Indoor Gymnasium are also conveniently accessible.

Daewoo E&C plans to make ‘Pungmu Station Prugio City’ a rare residential officetel in the region. It is designed with a 100% underground parking lot where no cars drive on the ground level and delivery vehicles can enter. Electric vehicle charging facilities will also be installed. Landscaping spaces such as rooftop gardens, terrace gardens, and a conversation yard in the public open space are arranged.

The retail facilities are located along the flow of foot traffic using Pungmu Station and can serve residents and nearby residential complexes as a demand base. The layout also includes pathways connected to Seonsu Park and a central garden. The underground parking lot is generously sized at 187% relative to the number of units.

‘Pungmu Station Prugio City’ is currently available for sale.