Financial Benefits and Resale Allowed... 'Forena Jeju Edu City' Attracts Buyer Interest

- Forena Jeju Edu City attracts attention with 'resale allowed, 10 million KRW deposit, interest-free interim payments'
- Low initial burden and protection from interest rate surges make it popular among residents and investors

[Foretna Jeju Edu City Rendering (Source: Hanwha Corporation Construction Division)]

Despite the real estate market downturn, financial benefits are being offered, and complexes where resale is possible continue to attract high interest. Due to various benefits that were hard to find during market upswings, the financial burden has actually decreased, leading buyers to view this as an appropriate investment opportunity to secure future value before the market turns upward.

In fact, in the recent pre-sale market, complexes offering financial benefits such as changing the deposit payment to a fixed amount and providing interest-free intermediate payments, which are usually about 60% of the total price, have maintained steady popularity.

First, the fixed deposit system sets the deposit amount, which is typically 10-20% of the sale price, to a fixed amount of around 10 to 20 million KRW, significantly reducing the initial financial burden on consumers, resulting in high consumer satisfaction.

Additionally, interest-free intermediate payments have the advantage of avoiding interest payments until move-in, which is usually 2-3 years later, maintaining ongoing interest from buyers.

An industry insider stated, “For example, using the interest-free intermediate payment condition, for an apartment priced at 600 million KRW with an annual interest rate of 6%, the developer effectively pays up to about 20 million KRW. Also, in a situation where loan interest rates are rising sharply, avoiding this interest rate hike is considered an essential condition, increasing interest.”

Resale of pre-sale rights is also a condition that attracts consumer interest. This is because it allows immediate transfer if the consumer judges the risk to be high according to their financial situation, and during future real estate market upswings, capital gains through resale can be expected, leading to continued positive responses.

Meanwhile, in the pre-sale market, Hanwha Construction Division is supplying 'Forena Jeju Edu City' in Daejeong-eup, Seogwipo-si, Jeju, which offers a fixed deposit of 10 million KRW, interest-free intermediate payments, and the advantage of resale, maintaining steady interest from buyers.

Forena Jeju Edu City is a large-scale apartment complex consisting of 29 buildings from basement level 1 to ground level 5, with exclusive areas ranging from 84 to 210㎡, totaling 503 households, located in Daejeong-eup, Seogwipo-si. It is situated just a 5-minute drive from Jeju English Education City, which is emerging as a new affluent residential area in Jeju, making it a highly regarded residential area.

According to a sales official, Forena Jeju Edu City has significant inquiries not only for actual residence but also for investment.

Lee Joong-seok, head of sales at Forena Jeju Edu City, said, “The benefits such as a fixed deposit of 10 million KRW, interest-free intermediate payments, and resale availability have reduced the financial risk for investors, maintaining ongoing interest. Especially, not only for actual residence but also for buyers aiming to generate profits using Jeju’s unique age concept, the reduced burden due to financial benefits and resale availability has led to steady inquiries.”

Meanwhile, Forena Jeju Edu City stands out for enhancing residential comfort with Forena’s differentiated specialized design. In particular, landscaping design covering approximately 36,000㎡ (about 3.4 times the grass area of Seogwipo World Cup Stadium) secures a landscaping ratio of about 40% or more. Additionally, the complex is planned to be a park-type eco-town with no cars on the ground.

Inside the complex, four community facilities such as park community and sunken community are arranged considering residents’ movement lines, and various facilities like ‘Merry Kids Ground (themed playground)’, ‘Play Ground (children’s playground)’, and ‘Resident Fitness Facility (fitness center)’ are provided.

Various community facilities (Club Forena) that enhance residents’ convenience are also noteworthy. Club Forena is located in the center of the complex and consists of three floors from basement level 1 to the 2nd floor, including a GX room, golf training center, small library & book caf?, reading room, guest house, study room, laundry caf?, daycare center, Forena preschool, and senior citizens’ center.

Regarding interior design, a ceiling height of 2.6m, which is 30cm higher than typical apartments, is introduced to provide an excellent sense of openness. Additionally, Forena’s differentiated design is applied, such as using 250mm soundproofing material and 60mm cushioning to reduce noise between floors.

Furthermore, the wall pad, certified with Good Design (Forena Edge Look), allows monitoring and control of the home and complex, including cooktop power off, parking location confirmation, elevator call, and playground CCTV check.

Forena Jeju Edu City is currently operating a model house, and move-in is scheduled for January 2025.