- Seven consecutive interest rate hikes from last year to early this year, current Bank of Korea rate at 3.5%... concerns over further increases
- ‘Sinseoldong Station Jaileune’ offering ‘interest-free interim payment’ benefits
Recently, as the global trend of high interest rates and rising inflation continues, residential complexes offering financial benefits are gaining attention. This is because benefits such as interest-free interim payments help reduce the financial burden for both actual residents and investors.
In fact, the United States raised its base interest rate by 0.75 percentage points four times last year in a series of giant steps, maintaining the current rate at 4.5?4.75%. Last month, Federal Reserve Chairman Jerome Powell stated that rate cuts are unlikely this year, leading to a prevailing market outlook that the current high interest rates will continue or may even increase further. The European Central Bank also implemented a big step in July last year for the first time in 11 years, followed by two giant steps and three consecutive big step hikes.
To narrow the interest rate inversion gap with the U.S., the Bank of Korea started at a base rate of 1.25% in January last year and raised rates seven consecutive times until early this year, including two big steps of 0.5 percentage points each. The current rate stands at 3.5%. Experts predict that if the U.S. implements additional hikes, South Korea will likely have to raise rates as well.
As the real estate sales market becomes unsettled due to these factors, construction companies are striving to reduce the financial burden on buyers. In particular, when construction companies or developers offer interest-free interim payment benefits, residents do not need to prepare any additional funds beyond the deposit until the contract is finalized.
Amid this atmosphere, ‘Sinseoldong Station Jaileune,’ being built in the Sinseoldong area of Dongdaemun-gu, Seoul, offers interest-free interim payment benefits.
‘Sinseoldong Station Jaileune,’ a residential complex supplied by Jaile S&D, will be constructed with 3 buildings ranging from 4 basement floors to a maximum of 20 floors above ground, comprising 143 small-sized housing units and 95 officetels, totaling 238 households. Among these, 143 urban lifestyle housing units with exclusive areas of 42?45㎡ will be eligible for the interest-free interim payment benefit.
The deposit for ‘Sinseoldong Station Jaileune’ is 10% of the sale price, and balcony expansion and system air conditioning are provided free of charge. Additionally, each unit is equipped with a household storage room to enhance residential utility.
Notably, the urban lifestyle housing offers four different floor plans, allowing residents to choose according to their lifestyle preferences. To increase convenience, one parking space per household is provided, and the parking lot is designed as a 100% self-parking facility.
Furthermore, the meticulous design of ‘Sinseoldong Station Jaileune’ for residents stands out. Duplex units and terraces are created to maximize space utilization, and each home is equipped with the Jaile smart home system, enabling integrated control of lighting, heating, and more from outside. In addition, a high-level security system will be implemented, including 2-megapixel CCTV, elevator security handrails, motion detectors, security intercoms, emergency call buttons in the underground parking lot, and a vehicle license plate recognition parking control system.
‘Sinseoldong Station Jaileune’ is an ultra-station complex located right in front of Exit 9 of Sinseoldong Station, where subway lines 1, 2, and the Ui-Sinseol Line intersect. It is close to Wangsanno, Cheonhodaero, and the Inner Circular Road, with easy access to Dongbu and Bukbu arterial roads, providing excellent metropolitan transportation connectivity.
Moreover, the Dongbuk Line light rail connecting Wangsimni to Sanggye is scheduled to open in 2024 at Jegidong Station, approximately 800 meters away. Cheongnyangni Station, just two stops away, will see the addition of the metropolitan area express railway (GTX) B and C lines, the Suseo-origin SRT Uijeongbu extension, the Myeonmok Line, and the Gangbuk Transversal Line.
‘Sinseoldong Station Jaileune’ is currently operating a model house.
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