Announcement of Winners for Cheolsan Xi The Heritage in Gwangmyeong, Gyeonggi-do on January 4 (Wed), Official Contract from January 15 (Sun) to 18 (Wed)
The government is planning to lift a large number of regulatory zones remaining in the Seoul metropolitan area, sparking growing interest and expectations among real estate buyers. It is expected that all regulatory zones except for the Seoul Gangnam 3 districts (Gangnam, Seocho, Songpa) and Yongsan district will be lifted.
The Ministry of Land, Infrastructure and Transport (MOLIT) has stated that there is "no confirmed decision" regarding the additional lifting of regulatory zones, but the real estate market believes that since the Yoon Suk-yeol administration’s real estate policy direction emphasizes 'deregulation,' the additional lifting of regulatory zones is just a matter of time.
According to government sources on the 3rd, MOLIT plans to hold the Residential Policy Deliberation Committee (Jujeongshim) within this month to decide whether to lift the regulatory zones.
If an area is removed from the regulatory zones, financial regulations such as Loan-to-Value ratio (LTV) and Debt-to-Income ratio (DTI) will be eased. In particular, various real estate-related restrictions will be lifted. The mandatory '2-year actual residence' requirement for capital gains tax exemption will disappear, and restrictions on re-winning and resale of pre-sale rights will also be lifted.
This regulatory easing measure is interpreted as an effort to revive the overall market, which is currently stagnant due to rising interest rates and a real estate transaction freeze. Although no concrete plan has been announced yet, there is growing interest in whether it can be applied retroactively to complexes that have already started their pre-sale schedules.
Industry experts said, "In the past, when resale restrictions on private apartments were lifted in 2008, there was a precedent where houses contracted before the enforcement date could be sold from the enforcement date after the amendment," adding, "Given the high concerns about a hard landing in the real estate market, there is a strong possibility that resale restrictions will be retroactively lifted even for contracts made after pre-sale to stabilize the pre-sale market."
In this situation, attention is focused on 'Cheolsan Xi The Heritage' in Gwangmyeong City, Gyeonggi Province, which is currently under pre-sale.
Cheolsan Xi The Heritage is being built in the Cheolsan-dong area of Gwangmyeong City, consisting of 23 buildings from 3 basement floors to 40 above-ground floors, totaling 3,804 households, of which 1,631 households with exclusive areas of 59, 84, and 114㎡ are for general sale.
The complex is subject to the pre-sale price ceiling system, so the prices are set lower than the surrounding market prices, and all unit types are priced below 1.2 billion KRW, making it possible to obtain interim payment loans. The sale conditions are 10% down payment, 60% interim payment, and 30% balance payment, with a 50% interim loan amount applying deferred interest payment.
Cheolsan Xi The Heritage is within walking distance of Cheolsan Station on Subway Line 7, allowing direct access without transfers to major Gangnam areas such as Express Bus Terminal Station, Gangnam-gu Office Station, Banpo Station, Nonhyeon Station, and Cheongdam Station.
It is convenient for commuting as it allows quick access to Sangam-dong or Yeouido via Anyangcheon-ro and the Western Arterial (underground) Road, and it is easy to enter and exit through the metropolitan road network including the 2nd Gyeongin Expressway, Gangnam Circular Urban Expressway, Seohaean Expressway, and Pyeongtaek-Paju Expressway.
Located in the old downtown area, the complex boasts excellent living infrastructure. Nearby are public offices such as Gwangmyeong Police Station, Gwangmyeong City Hall, Suwon District Court Ansan Branch, and Gwangmyeong City Court, as well as convenience facilities like Jungang Market, Gwangmyeong Traditional Market, Lotte Super, Lotte Cinema, E-Mart, major banks, and Rodeo Street.
With Dodeok Elementary School planned nearby, residents can enjoy the benefits of a school within walking distance. Yeonseo Library, Cheolsan Library, and an academy district near Cheolsan Station are also adjacent. Additionally, Anyangcheon Stream is next to the complex, offering views from some units, and Hyeonchung Neighborhood Park is located across the stream.
Meanwhile, the announcement of successful applicants for Cheolsan Xi The Heritage pre-sale is scheduled for Wednesday, January 4, 2023, and the official contract period will be held for four days from Sunday, January 15 to Wednesday, January 18. The model house is currently open, and move-in is expected in 2025.
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