- In the pre-sale market, 'price competitiveness' is identified as the most important factor for success amid the rising trend of pre-sale prices
- 'Dongtan New Town Geumgang Pentarium 6th Central Park' to be supplied at a reasonable price of around 14 million KRW per 3.3㎡
As construction costs continue to rise, leading to an overall increase in sale prices, price competitiveness has become the most important factor in the housing sales market. In fact, in the sales market, the psychology of "today is the cheapest" is at play, and demand is flocking to complexes with price competitiveness through the application of the price ceiling system.
According to Cheongyak Home, the recently applied-for 'Geomdan New Town Geumgang Pentarium 3rd Central Park' in Geomdan New Town, Incheon, recorded the highest first-priority subscription competition rate of 10.6 to 1 (based on 84㎡B) due to the application of the price ceiling system. Considering that it is supplied in Incheon, a region with a large supply volume, and is composed of a large complex, it is evaluated as having achieved good results.
In addition, in the provinces, 'Changwon Lotte Castle Forest' supplied by Lotte Construction in Changwon City and 'Eco Delta City Prugio Lynn' supplied by the consortium of Woomi Construction and Daewoo Construction in Gangseo-gu, Busan, succeeded in selling out with average competition rates of 28 to 1 and 11 to 1, respectively. Both complexes applied the price ceiling system and were supplied at relatively affordable prices, which positively influenced the sell-out.
Furthermore, 'Yeongdeungpo Xi Dignity,' supplied recently in Seoul, maintained the sale price set last year before the abolition of the price ceiling system (34.11 million KRW per 3.3㎡), highlighting its affordability compared to surrounding market prices. As a result, 19,478 people applied for 98 units, recording a competition rate of 198.8 to 1.
An industry insider said, "With the government abolishing the price ceiling system for private land and raising the basic construction cost once again, the trend of rising sale prices is expected to continue. Therefore, the value of apartments supplied at reasonable prices through the application of the price ceiling system is increasing, and demanders' interest will continue."
Meanwhile, Geumgang Housing announced the supply of 'Dongtan New Town Geumgang Pentarium 6th Central Park,' which will apply the price ceiling system, in Dongtan 2 New Town in April.
'Dongtan New Town Geumgang Pentarium 6th Central Park' will be a large complex in the New Residential Culture Town, consisting of 14 buildings from basement level 1 to a maximum of 20 floors above ground, with a total of 1,103 households. All units will be medium to large-sized apartments with exclusive areas of 84㎡ and 100㎡, with the number of units by type being ▲ 84㎡ 718 units ▲ 100㎡ 385 units.
The complex is expected to have a reasonable sale price of around 14 million KRW per 3.3㎡ through the application of the price ceiling system. In particular, compared to recently supplied new complexes in the New Residential Culture Town, which were priced between 15 million and 16 million KRW per 3.3㎡, this offers significant competitiveness, and interest is expected to increase further.
'Dongtan New Town Geumgang Pentarium 6th Central Park' boasts excellent residential conditions, with nearby planned locations such as Wangbaesan 3rd Park and Sinri Stream Waterfront Park, promising a pleasant living environment.
Additionally, the complex will include a kindergarten, and sites for an elementary school and a high school are planned right in front. Residents will also conveniently enjoy various lifestyle amenities such as Lotte Department Store, E-Mart Traders, Dongtan Lake Park, and CGV.
Moreover, it will be easy to use SRT Dongtan Station, which the GTX-A line scheduled to open next year will pass through, and the Dongtan Urban Railway (tram) Line 2 will also pass nearby. Accessibility is excellent via Sinri IC to the Gyeongbu Expressway and the Metropolitan Area 2nd Ring Expressway, making the wide-area transportation network outstanding.
A sales official said, "Dongtan New Town Geumgang Pentarium 6th Central Park is adjacent to Namsa-eup, Cheoin-gu, Yongin City, where Samsung Electronics recently announced a 300 trillion KRW semiconductor cluster investment, attracting attention as an apartment with development benefits and proximity to workplaces. Interest has increased significantly," adding, "It is an apartment that combines competitive pricing, excellent residential conditions, and future value, drawing continuous attention and inquiries."
The model house for 'Dongtan New Town Geumgang Pentarium 6th Central Park' is scheduled to open on April 14.
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