[Asia Economy Reporter Kwak Minjae] The residential town near Jeju English Education City, 'Jeju Britten Park Phase 1 World Meridian,' is scheduled for sale this month.
Developed by SNT Company and constructed by Samyang Construction Industry, this complex will be a multi-family housing project located in Deoksu-ri, Andeok-myeon, Seogwipo-si, Jeju, consisting of 9 buildings ranging from basement level 1 to ground level 4, with 69 units sized between 75 and 99 square meters.
Jeju Britten Park plans to expand to a total of 291 units by adding Phase 2 with 150 units (59 to 99 square meters) and Phase 3 with 72 units (94 square meters).
Phase 1 of Jeju Britten Park is located just a 10-minute drive from Jeju English Education City. Currently, four schools operate within Jeju English Education City: the integrated international schools St. John's Beria Academy, North London Collegiate School, Branksome Hall Asia, and the Korea International School Jeju Campus.
Notably, Jeju Britten Park Phase 1 consists of medium to large-sized units and features specialized designs such as 4Bay layouts and wide kitchens and living rooms to maximize ventilation and openness. Some units will include highly expandable balconies and attic rooms on the top floor, allowing for versatile space arrangements. The first floor is designed with a pilotis structure to minimize privacy intrusion on the lower floors.
Meanwhile, Jeju Island is a non-regulated area with no resale restrictions, allowing immediate resale of pre-sale rights upon contract, and there are no restrictions on re-winning. The loan-to-value ratio (LTV) can be applied up to 70%, and the basic capital gains tax rate for multi-homeowners applies, reducing the tax burden.
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