As Mapo-gu in Seoul is suddenly removed from the regulated areas, attention is focused on this change. With this deregulation, restrictions on the entire process of buying and selling real estate, including subscription, loans, and taxes, have been eased.
The Ministry of Land, Infrastructure and Transport lifted regulations on all areas of Seoul except the Gangnam 3 districts (Seocho, Gangnam, Songpa) and Yongsan-gu, making Mapo-gu a non-regulated area as well. Accordingly, regulations related to loans, subscriptions, and transactions have been significantly relaxed.
The market is welcoming this deregulation news enthusiastically. Investors with financial capacity can make additional purchases in popular northern Seoul areas, and with the lowered regulatory barriers, single-homeowners or those without homes are more likely to consider buying.
Moreover, as the government previously eased acquisition and capital gains taxes on multi-homeowners and relaxed LTV regulations, active buying by investors is expected.
A representative from real estate agency A located in Mapo-gu, Seoul, said, “It is true that being designated as a regulated area has been an obstacle to housing transactions due to loan and tax restrictions. Especially, the significant reduction in tax burdens for multi-homeowners is expected to open up the market.”
Meanwhile, investor inquiries are concentrating on ‘Villiv The Able,’ supplied in the Mapo-gu area of Seoul. It is located in the center of Seoul, adjacent to major business districts such as Yeouido and City Hall, offering abundant demand for proximity to work and residence, and it is a region with high potential for future price increases.
‘Villiv The Able’ will be developed in Baekbeom-ro area, Mapo-gu, Seoul, consisting of one building with 6 basement floors to 23 above-ground floors, 299 urban lifestyle housing units (including rental), and 34 officetel units.
The complex is located midway between Sinchon Station and Sogang University Station, allowing quick access to major business districts and other urban centers in Seoul via Line 2 and the Gyeongui-Jungang Line. Using Line 2, it takes about 10 minutes to reach the CBD (Jongno and Jung-gu business districts), and about 30 minutes to reach the GBD (Gangnam business district). Via the Gyeongui-Jungang Line, it is possible to reach the DMC (Digital Media City), a content production and distribution business complex, directly, attracting tenants who commute to major business districts.
Various convenience facilities near the stations can also be easily enjoyed. Shopping, culture, and daily convenience facilities such as Hyundai Department Store, E-Mart, CGV, Gyeongui Line Forest Park, and Sinchon Severance Hospital are all within easy reach.
‘Villiv The Able’ also boasts a premium product design. The interior, composed of small to medium-sized units ranging from 38 to 49 square meters, secures a ceiling height of 2.6 meters, which is 30 cm higher than typical apartments, providing a more comfortable and spacious feel. Additionally, premium living brands such as the German famous furniture brand ‘Nolte’ and the Italian faucet brand ‘Gessi’ are applied throughout.
Various benefits that attract investors are also provided. ‘Villiv The Able’ offers full-option free amenities including ceiling-type system air conditioners, washing machines, dryers, kitchen ovens, and island dining tables, reducing cost burdens and maximizing space utilization. Furthermore, it provides interest-free benefits on intermediate payments, so there is no interest burden even during periods of rising interest rates.
For more details about the ‘Villiv The Able’ sale, please visit the promotional center.
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