‘3 Factors’ Prime Complex ‘Chuncheon Lake City I-Park’ Scheduled for Sale in July

- Growing Need to Secure Promising Future Investment Destinations Highlights 'Gangwon Chuncheon'
- New Sale Complex 'Chuncheon Lake City I-Park' Attracts Attention with Location, Product Quality, and Triple Advantages

Although the real estate market has been undergoing adjustments this year, the recent freeze in the base interest rate and the gradual increase in transaction volume have heightened the need to secure promising investment destinations. As a result, buyers are moving quickly to prepare for the upcoming bullish market.

According to the Korea Real Estate Board's Apartment Actual Transaction Price Index, the previous major downturn in the real estate market lasted about four years (from the end of 2008 to the end of 2012). Since the current downward trend has already persisted for about a year, if this downturn follows a similar pattern, a rebound can be expected in about three years.

In particular, considering that it generally takes about three years from pre-sale to move-in in the housing market, it is noteworthy that the move-in timing of recently pre-sold complexes coincides with the anticipated bullish market.

However, the polarization of the real estate market cannot be ignored. Therefore, from the buyers' perspective, it is necessary to carefully evaluate the most important factors in real estate?location and product quality?and engage in selective investment.

The first factor to consider is the region. In a rising market, a steady influx of demand is essential, so areas with consistent demand inflow are important. Amid current discussions about regional polarization, areas where local governments are actively planning to expand demand fall into this category.

The next factor to consider is the size of the complex. Large complexes generally have bigger community facilities and a variety of amenities, resulting in higher resident satisfaction compared to smaller complexes. Additionally, with the increasing preference for a single, well-chosen property, such complexes are more likely to lead local market prices as landmarks.

Lastly, the brand is also an important consideration. Just as the value and price of clothing vary depending on the brand even when using the same materials, the importance of brand in today's real estate market is growing.

In fact, among newly supplied apartments from January to May this year, those that closed subscriptions in the first priority category shared the common feature of being major brand apartments from large construction companies. On the other hand, apartments from small and medium-sized construction companies with other brands often failed to fill even half of the general supply units with applicants, and many had no applicants at all.

Regarding this situation, real estate industry experts advise, “If a complex has the advantages preferred by buyers?such as being in a major city, large-scale, and branded?then despite fluctuations in housing prices, it will eventually rise. Therefore, it is advisable to focus on complexes that combine these advantages.”

In July, which will mark the climax of the pre-sale market in the early second half of the year, new supply complexes equipped with the three key factors of major city, large scale, and brand will continue to be offered.

HDC Hyundai Development Company plans to pre-sell ‘Chuncheon Lake City I-Park,’ supplied in Gangwon Special Self-Governing Province, which officially launched on June 11. This complex will be located in the Samcheon-dong area of Chuncheon City, consisting of 7 buildings ranging from 3 basement floors to a maximum of 32 floors above ground, with a total of 874 units sized between 63 and 138 square meters.

All units are arranged primarily facing south to secure sunlight and openness. The complex is adjacent to Gongjicheon and Uiamho, which are symbols of Chuncheon and representative urban resting places, allowing some units to enjoy views of Gongjicheon, Uiamho, and Samcheon-dong Ecological Experience Park.

This complex is situated in a location within Chuncheon City where residents can enjoy a one-stop lifestyle. Within a 1 km radius, there is a large mart for convenient shopping, and public offices and medical facilities such as Chuncheon City Hall, Gangwon National University Hospital, and Hallym University Chuncheon Sacred Heart Hospital are accessible.

Transportation is convenient with Gyeongchun Line’s Chuncheon Station and Namchuncheon Station nearby, as well as easy access by car to Chuncheon IC and Namchuncheon IC. Additionally, the only Legoland Korea Resort in the country is located nearby, and it is convenient to commute to Chuncheon Urban High-Tech Information Industrial Complex, Hupyeong General Industrial Complex, and Naver Urban High-Tech Industrial Complex.

With Gangwon Province launching as Gangwon Special Self-Governing Province and expected to implement various population inflow policies, and Chuncheon City planning to attract companies for Chuncheon-style workation, it is anticipated that housing prices will rise due to increased transaction volume from the influx of local demand.

Meanwhile, for HDC Hyundai Development Company’s ‘Chuncheon Lake City I-Park,’ applicants can apply for first-priority subscription after only six months of subscription to the housing subscription savings account. Multi-homeowners and household members are also eligible for first-priority status, opening the opportunity for anyone who qualifies to enter the major brand ‘I-Park.’

HDC Hyundai Development Company’s ‘Chuncheon Lake City I-Park’ is scheduled for full-scale pre-sale in July.