Foreign Investment Boom in Eumseong, Interest in 'Eumseong Umirin Full House'

- Top-tier in the region, steady monthly transactions despite stagnation concerns
- Continued foreign investment influx due to large-scale industrial complex developments and other positive factors

This year, the proportion of non-local home purchases in Eumseong-gun, Chungbuk Province, has attracted attention by ranking high among the 11 cities and counties in Chungbuk, accounting for 34.24%. When combined with local demand and 'outside' investment that sees future value, there is a high possibility that local market prices will rise.

According to data from the Korea Real Estate Board, from January to August 2022, the overall non-local transaction ratio in Eumseong-gun was 32.24%. Out of a total of 850 apartment sales transactions, 291 were by non-locals such as residents of Seoul. Additionally, Eumseong-gun's non-local transaction ratio was the third highest following Chungju City (47.66%) and Cheongju City (40.15%), and it showed the highest ratio among county areas.

Moreover, the number of non-local home purchase transactions in Eumseong-gun peaked at 47 in March, with a steady average of 30 to 40 transactions. Even during the current real estate market downturn, investment demand is supporting the housing market in Eumseong-gun.

Experts attribute the continued non-local investment demand in Eumseong-gun to the creation of multiple industrial complexes and investment attraction, which are increasing the area's value. According to Eumseong-gun, there are 16 completed industrial complexes, with an additional 7 planned. Furthermore, investment attraction achievements reached 2.0224 trillion KRW in 2020 and 4.3 trillion KRW last year.

Accordingly, Eumseong-gun is also seeing active population inflow from neighboring cities. According to population statistics from the Ministry of the Interior and Safety, the total population of Eumseong-gun increased by 195 people from 92,004 in October last year to 99,219 in September this year. This contrasts with nearby Chungju City (-1,012) and Jecheon City (-546), which experienced population declines during the same period.

An industry insider said, “In Chungbuk Province, Eumseong-gun is gaining attention as a hinterland city of the metropolitan area based on large-scale industrial complex development and corporate investment,” adding, “One out of three people buying apartments in Eumseong-gun is a non-local investor, so demand from both locals and non-locals is expected to gather for newly supplied apartments in the future.”

[Audio Umirin Full House Bird's-eye View]

New apartments soon to be supplied in Eumseong are also attracting interest. The standout is ‘Eumseong Woori-lin Full House,’ located in the Eumseong Enterprise Complex City. It is a large complex with a total of 1,019 households ranging from 84 to 111㎡ in exclusive area. The number of units by exclusive area is ▲84㎡ 875 units ▲94㎡ 32 units ▲101㎡ 104 units ▲111㎡ 8 units, consisting of popular medium to large-sized types.

Eumseong Woori-lin Full House is on public land, so the complex is subject to the price ceiling system for pre-sale prices. Therefore, one advantage is that buyers can purchase new apartments at competitive prices.

The excellent design also stands out. The complex is planned mainly with south-facing, slab-type 4-bay layouts, providing excellent lighting and ventilation for a comfortable living environment. Additionally, for the first time in Eumseong, an indoor swimming pool with a toddler pool and shower facilities is designed within the complex, along with community facilities such as a fitness club, indoor golf practice range, study room, and a small library.

A sales official said, “Eumseong is geographically adjacent to Gyeonggi Province and has excellent transportation infrastructure, emerging as a new industrial hub in the central region,” adding, “We will devote ourselves to creating a space where residents can live with pride by supplying high-quality apartments at the new center of Eumseong.”

‘Eumseong Woori-lin Full House’ currently operates the ‘Woori-lin Cafe,’ where visitors can share complex information and healing time along with beverages. Additionally, before the model house opens, an event is underway where everyone can win prizes, including a grand prize LG Styler.