- Preference for Non-Apartments Declines, Transactions of New Apartments Increase
- 'Namguro Station Dongil Centasia' Popular for Less Financial Burden with Small to Medium Units
As recent incidents of jeonse fraud have intensified, demand for jeonse and sales, which were mainly focused on villas, row houses, and multi-family homes, is shifting toward apartments.
According to real estate information provider Manlab, a review of non-apartment sales transactions on the Seoul Real Estate Information Plaza from January to April this year shows a total of 6,840 cases, which is about 52% less than the 14,175 cases during the same period last year?more than half the previous volume. Jeonse transactions also recorded 36,278 cases during the same period, nearly 20,000 fewer than the 53,326 cases in the previous year.
On the other hand, apartment sales transactions in Seoul during the same period reached 9,957 cases, nearly double the 5,085 cases from the previous year, and jeonse transactions also recorded 55,172 cases, marking the highest volume for the same period since 2011.
In this regard, a real estate expert analyzed, “As it has become difficult to assess market prices and liquidity is low, there is an aversion to non-apartment properties, which appears to have significantly increased apartment sales transactions.” He added, “In Seoul, where the supply of newly launched apartments is very limited, scarcity is high, and especially mid- to small-sized complexes with relatively lower financial burdens are attracting attention.” He suggested that during a real estate market recovery phase like now, it is worth focusing on new apartments as safe assets rather than non-apartments.
In this situation, ‘Namguro Station Dongil Centasia’ is attracting considerable attention. It is a rare small-sized complex in Seoul, with advantages such as proximity to a subway station, educational facilities, and close work-residence distance.
A representative of ‘Namguro Station Dongil Centasia’ explained, “Since January this year, all areas in Seoul except for the Gangnam 3 districts and Yongsan-gu have been removed from regulated zones, easing various restrictions on subscription, loans, and taxation.” He continued, “Amid high interest rates and rising sale prices, ‘Namguro Station Dongil Centasia,’ which consists only of mid- to small-sized units with relatively lower financial burdens, is gaining attention.” He added, “Recently, as jeonse fraud has become a major issue, there is a growing preference for monthly rent contracts, increasing the investment value of small apartments, so this complex deserves close attention.”
Located in Garibong-dong, Seoul, ‘Namguro Station Dongil Centasia’ is a small-sized complex. It is a reconstruction apartment with exclusive areas ranging from 33.64㎡ to 67.94㎡ (supply area 44.24㎡ to 89.49㎡), consisting of three buildings with a total of 162 households, from basement level 2 to ground level 7.
It is a triple-station area with Namguro Station on Line 7 about a 4-minute walk away, as well as Guro Digital Complex Station on Line 2 and Gasan Digital Complex Station on Line 1 nearby. The complex is also an “Chopooma” (elementary school nearby) complex, with an elementary school and an attached kindergarten close by. Additionally, it is a work-residence proximity complex near Guro Digital Complex and Gasan Digital Complex (G-Valley).
The complex applies energy-saving systems, installs noise-reducing materials between floors, uses eco-friendly finishing materials, features stone finishes on all floors for a premium exterior, installs bidets in shared bathrooms, and incorporates solar power generation systems, daylighting systems, rainwater recycling storage systems, and high-efficiency LED lighting.
Furthermore, community facilities such as a fitness center, small library, YouTube filming studio, GX room, multi-room, and senior center will be provided.
Subscription savings accounts or home ownership status are irrelevant for application, and loans of up to 80% are available for first-time homebuyers and newlyweds. Additionally, full interest-free payments on interim payments and free balcony expansion benefits are offered.
Meanwhile, ‘Namguro Station Dongil Centasia’ is currently operating a housing promotion center.
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