Regulatory Easing and New Scarcity Raise 'Expectations'... 'Guri Station Lotte Castle Signature' Upcoming Sale Draws Attention

- Real Estate Regulation Easing, Scarcity of New Complexes and Other 'Positive' Sales Market Factors
- Reduced Burden of 'Buying a Home'.. 'Guri Station Lotte Castle Signature' Scheduled for Sale

Following the real estate regulation easing announced by the government earlier this year, demand interest is intensifying. The significant relaxation of real estate regulations has raised expectations that securing a home will become easier. Additionally, the scarcity of new housing supply is expected to draw more attention to new complexes.

In January this year, the government drastically eased real estate regulations. Most of the regulated areas in the metropolitan area (excluding the Gangnam 3 districts and Yongsan district) were deregulated, and the mandatory residence requirement within the metropolitan area price ceiling zones was also abolished.

In particular, many restrictions related to subscription (cheongyak) were eased. The resale restriction period was shortened to a maximum of 3 years in the metropolitan area and up to 1 year in non-metropolitan areas, and the requirements for being a non-homeowner as well as the disposal obligation for existing homeowners were removed. Additionally, qualifications for non-priority subscription were relaxed, special supply price standards were abolished, and the mid-payment loan (based on sale price) criteria were eliminated, significantly reducing the previously stringent application requirements.

As a result, it is interpreted that demanders who had been holding back will ease their burden of securing a home, and ahead of the full-fledged spring sales season, interest in new housing complexes launching in February and March is increasing.

Amid this, on the 10th (Friday), Lotte Construction plans to open the model house for ‘Guri Station Lotte Castle Signature’ and begin full-scale sales.

Located in Inchang-dong, Guri-si, Gyeonggi-do, the subscription schedule for ‘Guri Station Lotte Castle Signature’ starts with special supply on February 20th (Monday), followed by first-priority subscription on February 21st (Tuesday), and second-priority subscription on February 22nd (Wednesday). The winners will be announced on February 28th (Tuesday), and the official contract period will be held for four days from March 13th (Monday) to March 16th (Thursday).

This complex will be developed with 11 buildings ranging from 6 basement floors to a maximum of 42 floors above ground, with a total of 1,180 households and exclusive areas ranging from 34 to 101㎡. Among these, 679 units will be supplied for general sale.

The number of general sale units by exclusive area is composed of a total of 8 types: △34㎡ 68 units △46㎡ 56 units △59㎡ A·B·C 264 units △82㎡ A·B 205 units △101㎡ B 86 units, with small to medium-sized units under 85㎡ accounting for 87% of the supply.

Furthermore, Guri Station on the Gyeongui-Jungang Line is within walking distance, and with the opening of the Byeollae Line (an extension of Subway Line 8) next year (2024), connecting Amsa Station?the terminus of Seoul Subway Line 8?to Byeollae in Namyangju, the complex will have double station accessibility. This station provides easy access to Seoul, and nearby roads such as Gyeongchun-ro and Achasan-ro facilitate convenient regional travel by car.

Nearby shopping and cultural amenities include Lotte Department Store, Lotte Hi-Mart, Hanaro Mart, Guri Traditional Market, and CGV. Medical facilities and public institutions such as Hanyang University Guri Hospital, Guri Health Center, Guri Post Office, and Guri-si Inchang Library are also located nearby, enabling convenient residential living. Additionally, several schools including Gyomun Elementary School, Inchang Elementary School, and Inchang Middle and High Schools are within walking distance.