- With a 20 million KRW deposit, ZERO burden until move-in
- High residential satisfaction expected with benefits from industrial complex and Taekja district halo effect
Interest is growing in complexes that offer reasonable contract terms in the housing market.
As concerns over the domestic and international economic situation increase due to rising household debt and inflation, the possibility of future interest rate hikes has emerged, leading more buyers to seek ways to reduce financial burdens during the home-buying process.
In fact, according to the Bank of Korea, household debt has been increasing rapidly. According to the '2023 Q2 Household Credit (Provisional)' data released by the Bank of Korea on the 22nd, mortgage loans surged by 14.1 trillion KRW in the second quarter of this year, reaching a record high of 1,031.2 trillion KRW. The quarterly increases in mortgage loans were ▲47 trillion KRW in Q4 last year ▲45 trillion KRW in Q1 this year ▲141 trillion KRW in Q2.
Moreover, credit interest rates are as high as 7-8% per annum, and the situation is not favorable. Other loans such as unsecured loans decreased by 15.5 trillion KRW in Q1 this year but only decreased by 4 trillion KRW in Q2, showing a significant slowdown in the decline. The atmosphere to repay unsecured loans has also diminished.
With household loans including mortgage and unsecured loans not decreasing but increasing, the Bank of Korea has no grounds to lower the base interest rate. This is because it could threaten the Bank’s goals of 'price stability' and 'financial stability.' On the contrary, the dominant analysis is that the situation is moving toward considering a base rate hike.
Therefore, buyers considering purchasing a home need to pay more attention to financial conditions than before. If the location and price are similar, choosing a complex with better financial conditions is advantageous.
In this regard, the most notable place is 'Osan Segyo Howstory The Central,' supplied by Namgwang Togeon in Osan City, Gyeonggi Province. With a down payment of 5%, approximately 20 million KRW, there is expected to be no additional burden until move-in.
Not only financial support but other conditions are also favorable. Osan Segyo Howstory The Central is free from regulations as it is located on private land. Compared to the nearby Osan Segyo 2 District, which is a public land district with a 10-year re-winning restriction, 3-year resale restriction, and 3-year actual residence period, it offers much better conditions within the same living area. Also, it is currently under a first-come, first-served unit designation contract, with no re-winning restrictions and a 6-month resale restriction, allowing resale of the pre-sale rights before the first installment of the intermediate payment, and there is no mandatory residence period.
It also boasts abundant demand and well-equipped location conditions. The complex is located within about 10 km of the Yongin Namsa Semiconductor Cluster (8.7 million m²) development area, which is worth approximately 300 trillion KRW. This area is expected to become the center of the semiconductor belt linked to Samsung Electronics’ Giheung, Hwaseong, and Pyeongtaek plants in the future.
Furthermore, it is situated in an area densely populated with large corporations such as Samsung Pyeongtaek Campus, LG Digital Park, and Amorepacific, allowing for a premium of proximity to workplace. Additionally, the complex benefits from the halo effect of the land district. It is located adjacent to Osan Segyo 2 District to the west, allowing residents to fully enjoy the well-developed infrastructure of Segyo 2 District.
To the east of the complex is Gwoldong Rodeo Street and Osan’s old downtown area, which includes administrative, cultural, and shopping facilities, enabling convenient living. It is also rich in green spaces and park facilities such as Gyeonggi Provincial Mulhyanggi Arboretum, Osancheon Stream, and children’s parks, allowing residents to enjoy an eco-friendly lifestyle.
Within walking distance are Daehocheo Elementary and Daehocheo Middle Schools, and Osan High School and Osan University are also nearby, so there is no concern about children’s education conditions.
Access to the Gyeongbu Expressway, National Road No. 1, Pilbong Tunnel, and Sammi Tunnel is convenient, securing a transportation environment that connects Seoul and the metropolitan area as well as all directions. In particular, with the opening of Sammi Tunnel connecting Unam District (Geumo Bridge) to Segyo 1 District (Segyo 19 Complex) and Pilbong Tunnel (City Road No. 6) connecting Osan and Hwaseong, commuting time between Segyo District and Dongtan 2 New Town has been greatly reduced from about 40 minutes to under 10 minutes, improving commuting convenience to Dongtan area.
Osan University Station on Subway Line 1 is nearby, and Osan University Station is only one stop away from Osan Station, where the GTX-C Line (scheduled to start construction in 2023) is expected to be extended. Once the GTX-C Line opens, accessibility to Seoul (Samseong Station) will improve further.
In addition, the Dongtan Urban Railway plan (scheduled to open in 2028) and the 'Bundang Line extension project connecting Osan, Dongtan, and Giheung,' which is currently undergoing a preliminary feasibility study, are also underway, further improving future transportation networks.
High future value is also expected. The complex has major benefits that will attract interest not only from nearby areas such as the Namsa Semiconductor Cluster and GTX-C opening but also from a wide range of buyers.
'Osan Segyo Howstory The Central' consists of two buildings ranging from three basement floors to 26 floors above ground, with a total of 192 units sized between 68㎡ and 75㎡. By unit size, there are 48 units of 68㎡, 48 units of 71㎡, and 96 units of 75㎡. The model house is located in Sucheong-dong, Osan City, Gyeonggi Province, and is currently under a first-come, first-served unit designation contract, with closing approaching.
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