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Bank of Korea Holds Base Rate Steady Consecutively... Will the Housing Market Revive?

Subscription Applications Received for 1,079 Households in 7 Locations Nationwide

As the Bank of Korea has kept the base interest rate unchanged for the third consecutive time, attention is turning to the possibility of a positive impact on the housing sales market. With the government continuing its policy of easing real estate regulations and concerns over rising interest rates somewhat alleviated, demand is expected to increase for complexes that offer competitive locations and pricing.


Bank of Korea Holds Base Rate Steady Consecutively... Will the Housing Market Revive? [Image source=Yonhap News]


Meanwhile, this week, around 1,000 households nationwide will be available for subscription. According to Real Today, a real estate research firm, in the fifth week of May, subscription applications will be accepted for a total of 1,079 households (including officetels, urban lifestyle housing, and private rentals, excluding public rental housing) across seven locations nationwide.


In Gyeonggi Province, first-priority subscription applications will be accepted for ‘Indeokwon Purseubiel’ (586 households), supplied through the Naeson Laguyok housing redevelopment project in Uiwang City. In the provinces, subscriptions will be held for ‘Cheonan Baekseok Centreville Parkdition’ (358 households) in Cheonan City, Chungnam Province, and ‘Suierte Milyang’ (45 households) in Miryang City, Gyeongnam Province.


On the 31st, a consortium of Daewoo Construction, GS Construction, and Lotte Construction will accept first-priority subscription applications for ‘Indeokwon Purseubiel,’ being built in Naesondong, Uiwang City, Gyeonggi Province. The complex consists of 14 buildings ranging from four basement floors to 34 above-ground floors, with units sized between 49 and 84 square meters, totaling 2,180 households. Of these, 586 units will be sold to the general public.


On the same day, Dongbu Construction will accept first-priority subscription applications for ‘Cheonan Baekseok Centreville Parkdition,’ being built in Baekseok-dong, Seobuk-gu, Cheonan City, Chungnam Province. The complex consists of four buildings ranging from one basement floor to 27 above-ground floors, with units sized at 84 square meters, totaling 358 households.


On June 2nd, HDC Hyundai Development Company plans to open the model house for ‘DMC Gajaeul I-Park,’ being built in Namgajwa-dong, Seodaemun-gu, Seoul. The residential-commercial complex consists of three buildings ranging from three basement floors to a maximum of 27 above-ground floors, with a total of 283 apartment units sized between 59 and 84 square meters, 77 officetel units sized between 24 and 56 square meters, and various auxiliary facilities. Excluding cooperative members and rental units, 92 apartment units sized 59 square meters and 69 officetel units sized 24 to 56 square meters will be available for general sale. The complex is located in an ultra-prime area near Gajwa Station on the Gyeongui-Jungang Line, offering excellent proximity to workplaces.


On the same day, Hyerim Construction will open the model house for ‘Gyodae Station Moa Elga Grande,’ being built in Gyelim-dong, Dong-gu, Gwangju. The complex consists of 11 buildings ranging from two basement floors to 25 above-ground floors, with units sized between 59 and 84 square meters, totaling 815 households, of which 461 units will be available for general sale.


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