Dongmun Construction's 'Wonju Dongmun The East' Popular with Interest-Free Mid-Payment Benefits

Multiple Factors Driving Sale Price Increase... Interest-Free Interim Payment Benefits Attract Attention

Amid the era of high interest rates combined with a clear trend of rising sale prices, the burden on buyers has increased, making new apartments offering benefits such as interest-free intermediate payments, like Dongmun Construction’s ‘Wonju Dongmun The East,’ popular.

Interest-free intermediate payment loans typically involve the construction company or developer covering all interest on the intermediate payments, which usually account for 60% of the total payment. From the buyer’s perspective, since only the contract deposit, which is 10-20% of the sale price, is paid upfront and no additional costs are incurred until the final payment, this is considered a highly advantageous financial benefit.

With recent consecutive interest rate hikes, mortgage interest rates at commercial banks have risen significantly, making such financial benefits increasingly important in the sales market for the time being. Currently, the Bank of Korea’s base interest rate stands at 3.50%, a figure that has been held steady for six consecutive times since January. This rate is the highest level in about 15 years since November 2008 (4.00%).

The rise in sale prices also poses a significant burden on buyers. Due to recent increases in the prices of major construction raw materials such as reinforced concrete, the rate of sale price increases has grown. According to data from the Housing and Urban Guarantee Corporation (HUG), the nationwide private apartment sale prices have been on an upward trend for seven consecutive months since March this year. As of last month, nationwide private apartment sale prices rose by 11.51% compared to the same month last year.

This impact of rising sale prices is a key reason why buyers’ attention is naturally drawn to new sale complexes offering various sale price benefits.

Meanwhile, in Gwanseol-dong, Wonju-si, Gangwon Special Self-Governing Province, Dongmun Construction’s ‘Wonju Dongmun The East’ is attracting buyers’ attention with reasonable sale prices and various financial benefits. Dongmun Construction’s ‘Wonju Dongmun The East’ is being developed in Gwanseol-dong, Wonju-si, Gangwon-do, consisting of 11 buildings ranging from 2 basement floors to 15 above-ground floors, with a total of 873 units of exclusive areas measuring 80, 84, and 115 square meters.

Dongmun Construction’s ‘Wonju Dongmun The East’ has prepared special financial benefits to further reduce buyers’ economic burdens along with reasonable pricing. These include a fixed first contract deposit of 10 million KRW, 5% contract deposit interest-free, full interest-free intermediate payments, and special contract support benefits. By offering these special contract benefits, ‘Wonju Dongmun The East’ lowers both the initial funding burden and future interest payment burdens for buyers. It is currently conducting first-come, first-served unit designation contracts.

‘Wonju Dongmun The East’ by Dongmun Construction not only boasts price competitiveness but also has locational advantages and differentiated product features. The complex is within the ultra-innovation city living zone, allowing residents to simultaneously access Wonju city center infrastructure such as Hanaro Mart, Homeplus, Wonju Premium Outlets, and Wonju Medical Center, as well as innovation city facilities like the planned E-Mart Traders, Saint Hospital, and Megabox.

Inside the units, designs favor south-facing layouts for better lighting and ventilation, mainly 4BAY slab-type layouts (except for some units), and increased space utilization with pantries and dressing rooms. Some units also offer views of Wonjucheon Stream, Chiaksan Mountain, and Baegunsan Mountain. The exterior of the complex will be developed as a park-style complex with various themed landscaping such as walking trails and playgrounds. Additionally, facilities like a fitness center, golf practice range, coin laundry, and a small library will be provided.

In particular, Dongmun Construction’s ‘Wonju Dongmun The East’ pays close attention to ‘education,’ capturing the hearts of parent buyers. Educational facilities such as Gwanseol Elementary School and Yeongseo High School are within walking distance, ensuring safe commuting for children. A Jjaekakakko Kids Center is planned within the complex, where buyers with young children can receive free childcare services for two years. Furthermore, the well-known academy brand Daechi Nuri Education will be located here, allowing access to excellent educational environments similar to those in Seoul’s Gangnam area.

‘Wonju Dongmun The East’ also boasts convenient transportation. It is located near the Jungang Expressway and National Route 19, providing a convenient wide-area transportation network. Through Wonju Station on the Jungang Line Wonju-Jecheon double-track railway, which opened in 2021, it takes about an hour to reach Seoul Cheongnyangni Station. Once the Gwanseol Hi-Pass IC project (scheduled for 2025), which connects to the Jungang Expressway, is completed, highway accessibility in the eastern Wonju area, including Bangok and Gwanseol-dong, is expected to improve.

Dongmun Construction’s ‘Wonju Dongmun The East’ is currently operating a model house.