As the government announced an increase in the standard construction cost for rental housing, the sale prices of apartments are also expected to rise. The upward trend is projected to continue next year, prompting prospective buyers to hasten their steps to purchase newly built apartments during the remaining year-end period.
On the 21st, the Ministry of Economy and Finance announced in the ‘2023 Economic Policy Direction’ that the standard construction cost for rental housing will be increased by 9.8% to reflect actual costs. This move aims to improve the quality of rental housing, which has been continuously raised as an issue. Experts analyze that the basic construction cost, which serves as the standard for calculating the sale price of apartments, is also likely to be further increased next year.
The basic construction cost is regularly announced every six months (March and September), but this year, exceptionally, an irregular announcement was made in July, resulting in three increases. In fact, apartment sale prices have been rising rapidly this year.
Meanwhile, in the last special planning district at the very center of Dongtan 2 New City, ‘Dongtan Eoullim Familier·Summa Desiang,’ which offers competitive pricing, is currently being sold.
Dongtan Eoullim Familier·Summa Desiang is an apartment under the price ceiling system, supplied at a reasonable price, and located in a non-regulated area, reducing burdens such as loans and taxes. The loan-to-value ratio (LTV) can be applied up to 70%, and 60% of the interim payment can be fully financed through loans. Multi-homeowners can also obtain mortgage loans, and they are exempt from heavy taxation rates on acquisition tax and capital gains tax.
Additionally, despite being subject to the price ceiling system, various free options are provided upon expansion, including entrance pantry, corridor pantry, dressing room, master bedroom powder room, electric laundry drying rack, and wide kitchen windows. Equipped with the latest specialized systems such as a smart ventilation system, clean ventilation heat exchanger, and a black box for visitors at the unit entrance, it reduces the financial burden on actual buyers.
The new residential culture town where Dongtan Eoullim Familier·Summa Desiang is located is being developed with the aim of creating a future-oriented rural residential complex harmonized with Korean natural landscapes, boasting a green space ratio of 38%, the highest level in Dongtan. It offers a nature-friendly living environment and plans to include high-end residential facilities such as detached houses, terrace houses, and large-scale branded apartments, emerging as a new affluent area in Dongtan. Dongtan 2 New City, now entering its 8th year since occupancy, already enjoys abundant living infrastructure and is situated in the very center, making it suitable as the next flagship apartment of the new residential culture town.
Nearby, kindergarten and four school sites are planned, enabling safe commuting for children. Convenience facilities within Dongtan 2 New City such as Emart Traders, Lotte Department Store, Nonghyup Hanaro Mart, Hyundai City Outlet (planned), and Homeplus are easily accessible. It takes about 17 minutes from nearby SRT Dongtan Station to Suseo Station, and the GTX-A line is also scheduled to open at Dongtan Station. The Second Capital Area Circular Expressway and Gyeongbu Expressway allow access to the entire metropolitan area and nationwide.
Meanwhile, Dongtan Eoullim Familier·Summa Desiang will be developed in two complexes with a total of 1,256 households in the Shindong area of Hwaseong City, Gyeonggi Province. Dongtan Eoullim Familier offers 640 units with sizes ranging from 84 to 99㎡, and Dongtan Summa Desiang offers 616 units sized from 99 to 109㎡.
Official contracts will be conducted at the model house from December 26 to 30.
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