Recently, with additional price increases expected for construction raw materials such as cement, a rise in sale prices is also inevitable. As a result, subscription accounts are flocking to new complexes priced more reasonably than surrounding sale complexes and market prices.
For example, the ‘Lotte Castle Eastpole (July 2023 sale)’ in Jayang-dong, Gwangjin-gu, Seoul, which was sold in July this year, attracted great attention due to its reasonable sale price compared to the surrounding market prices. As a result, the complex received 41,344 subscription applications?the highest number in Seoul?for 420 households (excluding special supply), recording a high subscription competition rate of 98.44 to 1 on average for the first priority.
The atmosphere in the provinces is similar. In August this year, ‘Dunsan Xi I-Park’ in Tanbang-dong, Seo-gu, Daejeon, was supplied at a price about 50 million KRW lower than the actual transaction price of nearby apartments, attracting the attention of buyers and recording a double-digit competition rate of 68.67 to 1 on average for the first priority subscription.
Meanwhile, ‘Hillstate Geumo The First,’ constructed by Hyundai Engineering & Construction, is being developed with a total of 832 households across 11 buildings, ranging from 3 basement floors to 32 above-ground floors, with exclusive areas of 36 to 84㎡. Among them, 408 households will be offered for general sale.
Looking at the general sale units by exclusive area, they consist of △36㎡ 68 households △59㎡A 126 households △59㎡B 17 households △59㎡C 117 households △75㎡ 24 households △84㎡ 56 households.
The complex is being developed as part of the Geumo Living Area 1 District Housing Redevelopment Project, which inevitably reduces land acquisition costs. Therefore, the complex is priced relatively reasonably compared to other nearby sale complexes.
In fact, among the three complexes currently on sale or about to be sold in Uijeongbu, ‘Hillstate Geumo The First’ is evaluated to have a reasonable sale price. The sale price of this complex is about 575 million KRW (based on 84㎡ exclusive area), which is more than 100 million KRW lower than Complex ‘A’ at about 677 million KRW (84㎡ type) and Complex ‘B’ at 707 million KRW (84㎡ type).
‘Hillstate Geumo The First’ is within walking distance of Hyoja Station on the Uijeongbu Light Rail Transit. Through this line, it takes about 10 minutes to transfer to Hoeryong Station on Line 1. Additionally, the nearby wide-area bus stop within a 3-minute walk provides convenient commuting to the center of Seoul, and the road transportation network is also excellent. Through Hoguk-ro, Uijeongbu IC and Howon IC on the Metropolitan Area 1st Ring Expressway, and Minrak IC on the Guri-Pocheon Expressway, it is easy to access Seoul and the metropolitan area.
Moreover, with the planned Uijeongbu Station on the GTX-C line of the Metropolitan Area Express Railroad, the planned extension of Subway Line 7, and the partial opening of the underground Dongbu Arterial Road project (from Uijeongbu city boundary to Wolgye 1 Bridge, a 6.85 km section), accessibility to major business districts in Seoul and Gangnam is expected to become even more convenient.
Within a 1 km radius of the complex are Homeplus Uijeongbu Branch and the commercial center of Geumo Singok-dong. Medical facilities nearby include Catholic University Uijeongbu St. Mary's Hospital, which has the nation's highest severe trauma patient acceptance rate and is equipped with a regional trauma center and regional emergency medical center, as well as Uijeongbu Eulji University Hospital, the largest medical institution in northern Gyeonggi Province.
In addition, the northern Gyeonggi administrative town, including the Gyeonggi Provincial Government Northern Office, Northern Gyeonggi Police Agency, and Uijeongbu Fire Station, is conveniently accessible. Schools such as Geumo Elementary School, Geumo Middle School, Cheonbo Middle School, and Hyoja Middle and High School are close to the complex. Nearby, there is a Geumo-dong academy district, and facilities like the Uijeongbu Science Library are also available.
Meanwhile, the model house for Hillstate Geumo The First is scheduled to be set up in the Geumo-dong area of Uijeongbu, Gyeonggi Province.
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