The Financial Monetary Policy Committee of the Bank of Korea has once again kept the base interest rate unchanged at 3.50%, raising expectations for a recovery in the real estate market.
According to the financial sector, the Bank of Korea has frozen the base interest rate for three consecutive times. This decision by the Bank of Korea appears to align with the recent stance of the U.S. Federal Reserve. The U.S. Federal Reserve is taking a cautious approach to avoid aggressively raising interest rates due to concerns about an economic downturn triggered by incidents such as the Silicon Valley Bank crisis.
The Bank of Korea’s decision to hold the base interest rate steady is seen as a positive signal to investors who had been worried about rate hikes. Following the government’s easing of pre-sale regulations earlier this year, the disappearance of interest rate uncertainties is expected to revive the pre-sale market, especially centered around Seoul. In fact, housing transaction volumes are on the rise, and there is widespread analysis that a late spring has arrived for the pre-sale market.
However, given the market’s volatility so far, the prevailing opinion is that rather than making reckless investments, buyers should carefully select properties with excellent value and make prudent decisions.
According to KB Real Estate statistics, over the past year, nationwide officetel sale prices have risen only in Seoul, while prices in the metropolitan area and the five major metropolitan cities have all declined. Within Seoul, the downtown area officetel prices, including Jongno-gu, Jung-gu, and Yongsan-gu, recorded the largest increase.
As a result of this trend, there is growing interest in ‘Ermoso Yongsan,’ a high-end officetel located on Wonhyo-ro in Yongsan-gu, Seoul.
Ermoso Yongsan boasts a location that can fully benefit from the Yongsan International Business District development project, which is the core of the Yongsan redevelopment, as well as the Korean-style Central Park Yongsan Park development plan. Within a 1.5 km radius of the project site, major corporations such as Amorepacific, HYBE, and LS Tower, which employ about 130,000 workers, are already established, and once the Yongsan development projects are fully completed, it is expected to secure demand from nearly 390,000 people.
It is located in a pentagon station area accessible to subway lines 1, 4, and 6, and within walking distance to the Gyeongui-Jungang Line and KTX station, offering excellent transportation infrastructure. It is adjacent to major business hubs in Seoul such as Yeouido, City Hall, Gwanghwamun, and Gangnam, and is close to the existing commercial district centered around Yongsan Station, providing abundant living and cultural infrastructure.
Ermoso Yongsan, with a total of 55 units without resale restrictions, consists entirely of 1.5-room to 2-room units and offers 13 premium options free of charge, including Italian kitchen furniture, ultra-slim three-sided sliding doors, ceiling-type system air conditioners, stylers, dryers, and body dryers. Additionally, it features resident-exclusive community facilities and rest areas, receiving positive responses from real demand buyers who value ‘work-life balance.’
Furthermore, if officetel contract holders sign a separate agreement with the rental management specialist company ‘The Good House,’ they can receive rental management services that guarantee income regardless of vacancy status, and inquiries about this service continue to pour in.
Detailed information about the Ermoso Yongsan pre-sale can be found through the promotional center and the official website.
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