The Return of 'Lotto Subscription'... Changwon Central Park Aileen's Garden

- Changwon Central Park Ailin's Garden Attracts High Demand with Reasonable Sale Prices
- Interest-Free Interim Payments and Transfer of Sale Rights... Changwon Lotto Sale Complex Emerges

The long-absent 'lottery-style pre-sale' has returned. As the real estate market environment changes due to interest rate hikes and recognition of peak housing prices, the once outdated lottery-style pre-sale has reappeared in Changwon City, Gyeongnam Province. The 'Changwon Central Park Eileen's Garden,' launched by IS Dongseo in November through the Daewon 3 District housing reconstruction maintenance project in Changwon City, Gyeongnam, is the target of this lottery-style pre-sale.

For a while, the pre-sale market was popular among buyers due to the advantages of new apartments and the application of price ceiling regulations on many projects, which enhanced price competitiveness. Lower pre-sale prices compared to surrounding areas often led to price synchronization with complexes in the same zone, allowing buyers to gain capital gains.

However, since the second half of this year, the overall housing market environment has changed, making it difficult to expect such a trend. Buyer sentiment has weakened and transactions have cooled, causing existing home sales to slow down. Additionally, rising construction costs have inevitably pushed pre-sale prices up, causing lottery-style pre-sales to disappear.

In this situation, IS Dongseo is attracting attention by presenting a lottery-style pre-sale. The pre-sale price of 'Changwon Central Park Eileen's Garden,' launched in Daewon 3 District, Changwon City, Gyeongnam, is set reasonably, signaling a lottery-style pre-sale.

The average November sale price of an 84㎡ unit in 'Forena Daewon' (completed in 2018) in Daewon 2 District, Seongsan-gu, Changwon City, near 'Changwon Central Park Eileen's Garden,' is 700 million KRW (based on KB Kookmin Bank market prices). The pre-sale price of a 59㎡ unit in 'Hillstate Macroen,' launched in July this year in Daewon 1 District, Seongsan-gu, Changwon City, ranged from 449 million to 489 million KRW.

On the other hand, 'Changwon Central Park Eileen's Garden,' being pre-sold this month in Daewon 3 District, Seongsan-gu, Changwon, is expected to be priced lower than these apartments. Additionally, a new apartment premium is also anticipated.

Moreover, to reduce the burden on actual buyers, interest-free benefits on interim payments will be provided. Therefore, except for the deposit, no additional payments are required until move-in.

'Changwon Central Park Eileen's Garden' consists of a total of 1,470 households, of which 1,107 units will be offered for general sale. The model house is scheduled to open in November. Completion is expected in May 2024.