Expectations for Real Estate Market Rebound... Increasing Demand for 'Billiv Myeongji Duclass'

- Expectations for real estate rebound rise due to deregulation and loan interest rate cuts, leading to continuous visits to prime complexes
- Exceptional benefits like 10 million won deposit and excellent location & products attract more interest compared to nearby complexes

Expectations for a rebound in the real estate market are growing due to the government's comprehensive deregulation efforts and expanded loan interest rate cuts. As a result, demand-side activity is becoming increasingly brisk once again.

In fact, the government has been focusing on lifting regulations in various areas, starting with the deregulation of all local areas including Busan in September last year, followed by the removal of restrictions in the metropolitan area except for the three Gangnam districts of Seoul (Seocho, Gangnam, Songpa) and Yongsan District in January this year. Especially in January, various regulations that had constrained demand, such as easing resale restrictions, abolishing mandatory residence requirements, and expanding guarantees for interim payment loans, were lifted, leading experts to predict that the real estate market's downward trend will slow and gradually move upward.

Moreover, recently, banks have been announcing successive loan interest rate cuts in line with the government's policy, further reducing the burden on buyers. Indeed, major commercial banks have recently announced interest rate reductions one after another, and internet-only banks are also following suit with loan interest rate cuts.

A real estate industry expert said, "With the regulations that had acted as shackles being broadly lifted and the continued trend of loan interest rate reductions, both actual buyers and investors now have a wider range of choices," adding, "As more buyers believe now is the right time to purchase, pre-sold complexes with excellent sales conditions, locations, and product competitiveness are once again attracting attention."

[Billive Myeongji Duclass Model House Image (Source: Shinsegae Construction)]

Meanwhile, in Busan, Shinsegae Construction's 'Villiv Myeongji Duclass' in Myeongji International New City is drawing significant interest from the increasing number of buyers. The model home is seeing a steady stream of visitors daily, and a large number of buyers eager to sign contracts are flocking, heating up the excitement for first-come, first-served sales.

Villiv Myeongji Duclass is a large-scale residential officetel complex located in Myeongji-dong, Gangseo-gu, Busan, consisting of 1,083 units across three basement floors to 20 above-ground floors. All units are a single type with a preferred exclusive area of 84㎡ favored by buyers.

In particular, the complex is attracting even more attention by offering unprecedented financial benefits that reduce consumers' burdens, according to a nearby real estate official.

Specifically, the complex minimizes the initial financial burden on contract holders by offering a fixed first deposit of 10 million KRW, a 5% full interest-free loan on the deposit, and full interest-free benefits on interim payments. Since 5% of the 10% deposit and all interim payments are interest-free, it alleviates the interest burden amid the recent high-interest era, and it is expected that additional interest rate hikes will not affect consumer burdens.

A representative from Myeongji International New City A Real Estate said, "With just 10 million KRW, you can secure a premium in the fully developed new city of Myeongji International New City and enjoy the premium of the massive new city formed in harmony with Eco Delta City and Myeongji Ocean City," adding, "Compared to projects like Prugio Lin, which is scheduled for sale in Eco Delta City, the conditions are superior, especially with significantly reduced initial investment burdens, which is also attracting investor interest."

Meanwhile, Villiv Myeongji Duclass is located in a prime spot within Myeongji International New City, allowing residents to enjoy all the completed new city infrastructure. The complex is near the Nakdong River and the South Sea, offering sea views (varies by unit). Additionally, various neighborhood parks such as Myeongji-dong Neighborhood Park are nearby, providing diverse natural views including ocean, garden, park, and city views (varies by unit).

The educational environment is also excellent. Myeongwon Elementary School and Gyeongil Middle School are located near the complex, and there is an academy district within Ocean City. Furthermore, within walking distance is the international school 'Royal Russell School Busan Campus,' a core project of Busan Myeongji International New City, which is rapidly progressing toward its planned opening in 2025, making this complex a prime beneficiary.

In addition, residents can conveniently use various infrastructures in the central commercial area and enjoy abundant cultural and convenience facilities such as Starfield City Myeongji, E-Mart Traders, and Lotte Cinema.

Moreover, Villiv Myeongji Duclass is expected to form a double station area with transportation benefits from the planned Gangseo Line (connecting to Busan Subway Lines 1 and 3) and the Hadang~Noksan Line (planned). The Hadang~Noksan Line passed the preliminary feasibility study in June last year, and the project is set to begin in earnest with a target completion in 2029, further raising expectations as the benefits become more tangible.

Additionally, the development of office land within Myeongji International New City, with a project cost of 1.7 trillion KRW, has begun in earnest, and large-scale benefits such as the early opening of the Gadeokdo New Airport are also underway, promising further advantages.

Villiv Myeongji Duclass also stands out with its trendy design as part of the lifestyle residential brand Villiv. It introduces European lifestyle gardens. Beautiful four tree-lined streets featuring large oak, holly, tulip, and Chinese maple trees run through the complex, and a central courtyard uniting the entire complex includes a wide lawn, resting areas, and two water-themed walking paths.

Internally, the design incorporates 4-bay slab-type and 2-sided open tower-type floor plans (varies by type), with ceiling heights raised to 2.5 meters to enhance openness and maximize spatial perception. It also offers ample storage space such as large dressing rooms, walk-in entrance closets, and pantries, expanding space utilization.

First-come, first-served contracts for Villiv Myeongji Duclass are being conducted at the model home site.