Amid ongoing forecasts that the real estate market adjustment triggered by rapid interest rate hikes will continue this year, the government has taken steps to facilitate a smooth market landing by significantly easing regulations on multi-homeowners and lifting restrictions on regulated areas nationwide (except Seocho-gu, Gangnam-gu, Songpa-gu, and Yongsan-gu).
On the 3rd, the government removed the strict real estate regulations from all regions nationwide except the Gangnam 3 districts and Yongsan-gu. Regulations on mandatory residence, resale restrictions, and interim payment loans have been greatly relaxed, leading to expectations of revitalization in the pre-sale market.
In particular, the government has decided to shift the regulatory paradigm by supporting rental business operators and easing tax and loan regulations for multi-homeowners. The government explained that this aims to revive demand in the rapidly declining real estate market and guide a soft landing.
In fact, the acquisition tax surcharge system for multi-homeowners is expected to be eased. According to the ‘2023 Economic Policy Direction’ announced by the government in December last year, the surcharge tax rate set at 8-12% will be reduced to 4-6%. The temporary exemption from capital gains tax surcharges, which is currently deferred until May this year, will be extended by one year, and a fundamental reform plan will be sought through this year’s tax reform proposal.
Meanwhile, Hyundai Engineering & Construction is currently selling ‘Hillstate Buldang The One’ in Buldang-dong, Seobuk-gu, Cheonan-si, Chungcheongnam-do. The complex will be developed with 4 buildings ranging from 7 basement floors to 49 above-ground floors, totaling 730 units with exclusive areas of 113 to 119㎡.
Hillstate Buldang The One is located within commuting distance (within a 3 km radius) of Samsung Display and Samsung SDI Cheonan Campus, and large industrial complexes such as Baekseok Agricultural Industrial Complex are nearby.
Additionally, near the project site, the ‘Cheonan-Asan Small Giant Special Zone Development’ is underway to foster a future-oriented automobile parts industry specialized area. In this regard, the R&D startup and convergence district in Asan Tangjeong Residential Development District and Buldang District will establish a Small Giant Special Zone campus linked with the construction of the Manufacturing Technology Convergence Center.
The complex is conveniently accessible to Cheonan-Asan Station (KTX·SRT) and Asan Station (Seoul Metropolitan Subway Line 1) within the living area, making commuting to Seoul and the metropolitan area easy and facilitating travel to other regions. The complex is close to roads such as Eumbong-ro and Baekseok-ro, allowing convenient access throughout Cheonan, and nearby Cheonan IC provides easy entry to the Gyeongbu Expressway, facilitating travel to other areas.
Nearby schools include Bulmu Elementary School and Bulmu Middle School, and the Buldang-dong academy district is also close. Within the living area, shopping facilities such as E-Mart, E-Mart Traders, Galleria Department Store, and Moda Outlet are available, and the Buldang-dong commercial district is nearby.
The complex will feature premium community facilities such as a sky lounge and guest house. Additionally, for residents’ health, sports facilities including a fitness center, screen golf room, and G.X room, as well as community facilities for residents’ children such as single-person study rooms, kids’ lounges, and kids’ swimming pools are planned.
Specialized services for convenient residential life for residents are also planned. The complex will provide high-quality residential services such as childcare services for our children, breakfast and lunch services, and life care services through a professional management company.
Meanwhile, Hillstate Buldang The One is currently operating a model house.
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