- Financial Benefits Catch Attention Including 'Interest-Free Loan for Half of the Deposit' and '5 Million Won Fixed Deposit Plan'
- Resale Possible from May if Enforcement Decree Revised... Increased Buyer Inquiries for 'ePyeonhansesang Heyri'
Recently, new complexes actively offering pre-sale have attracted attention by expanding existing financial benefits. As the burden of funds increases due to repeatedly rising loan interest rates since last year, complexes with more certain financial benefits are securing high competitiveness in the pre-sale market.
For example, DL Construction’s ‘ePyeonhansesang Heyri,’ located in the Tanhyeon-myeon area of Paju-si, Gyeonggi-do, recently changed its down payment conditions so that buyers only need to pay half of the 10% down payment, i.e., 5%, while the remaining 5% can be financed through an interest-free loan. Now, buyers can secure their homes by paying about 20 million KRW in down payment without additional cost burdens until move-in.
Additionally, the 5% down payment is offered as a fixed amount of 5 million KRW for the first installment, reducing the initial financial burden. Typically, a down payment of 10-20% of the sale price is required for a formal contract, but in this complex, contracts can be made by paying only 5 million KRW. Furthermore, since full interest-free benefits are provided for the intermediate payments, buyers are expected to significantly reduce their interest burden.
Since such financial benefits are rarely seen during real estate market upswings, it is anticipated that many non-homeowners will actively take advantage of this opportunity to purchase homes. Experts also believe that if careful selection is made, the current period of decreased demand in the subscription market will be a good opportunity for those who previously gave up on subscriptions or younger generations to purchase newly built complexes.
Moreover, ‘ePyeonhansesang Heyri’ is expected to benefit from the government’s deregulation announcement earlier this year. Even for complexes sold before the revision of the enforcement ordinance, if resale restrictions remain, the revised ordinance will be applied retroactively, easing the regulations. Accordingly, once the ordinance is revised, resale of units in this complex is expected to be possible starting May of this year.
Meanwhile, ePyeonhansesang Heyri is being developed with 8 buildings ranging from 3 basement floors to a maximum of 25 floors above ground, totaling 1,057 units with a net floor area of 84㎡. Currently, sales are on a first-come, first-served basis, allowing buyers to select their preferred building and unit number, and contracts can be made regardless of subscription savings account ownership, residential area restrictions, or home ownership status.
The sale price of ePyeonhansesang Heyri starts from the high 300 million KRW range based on a net floor area of 84㎡. It is supplied at a lower price compared to newly sold complexes nearby, and balcony expansion costs are provided free of charge.
The city of Paju in Gyeonggi-do, where the complex is located, is attracting attention due to ongoing corporate investments such as LG Innotek’s factory expansion. In fact, LG Innotek is reportedly pushing forward with a new expansion of its Time-of-Flight (ToF) 3D sensing module production in Paju to target the growing extended reality (XR) market. The new factory is scheduled for completion in 2024.
LG Display’s investments are also continuing. LG Display announced last year a new facility investment worth 3.3 trillion KRW by 2024 to secure production capacity for small and medium-sized OLEDs. This investment will be used to expand OLED production at the Paju plant. With such large-scale investments by major corporations, it is expected that strong residential demand, including demand for proximity to workplaces, will be secured.
ePyeonhansesang Heyri is currently operating a housing exhibition center, and move-in is scheduled for May 2025.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
