Buying Activity Busy Around Landmarks in Areas Before Additional Price Increase
As construction costs continue to rise, making it realistically difficult to lower apartment sale prices, the market trend of "today is the cheapest" seems to be taking hold.
According to the "December Private Apartment Sale Price Trends" announced by the Housing and Urban Guarantee Corporation (HUG) on the 15th, the sale price per 3.3㎡ of apartments in the metropolitan area reached 24.34 million KRW, soaring 1.06% from the previous month and 14.82% compared to the same period last year. Nationwide, prices rose 1.51% month-on-month and 12.99% year-on-year. This marks a continuous increase for 10 months since February last year.
There is a high possibility that sale prices will rise further. Industrial electricity rates have surged, causing cement and rebar prices to stir again. The industry predicts that cement and rebar costs will increase by about 10-20% due to the rise in electricity charges. Increased financial costs from interest rate burdens are also pushing sale prices upward.
In fact, the sale prices of complexes in the metropolitan area are soaring. In the metropolitan area, the sale price of the 84㎡ unit, known as the national standard size, is well over 1 billion KRW.
For example, in a recently sold complex in Gwangmyeong, the total sale price of an 84㎡ unit, including paid options and interim payment interest, exceeds 1.28 billion KRW, and in a complex sold in Uiwang, the 84㎡ unit price approaches 1 billion KRW.
As a result, the atmosphere that the 84㎡ sale price in the metropolitan area equals 1 billion KRW is settling in. Additionally, the expansion of mandatory certification for zero-energy buildings is another variable. The government has recognized this as a burden on construction costs and has granted a one-year grace period for now, but the industry expects construction costs alone to rise by about 30%.
With sale prices expected to soar further next year, demanders are moving quickly to secure landmark properties representing their regions as soon as possible.
Amid this, attention is focused on "Wanggil Station Royal Park City Prugio (Wangropu)," a premium pilot complex of Korea's first private new town resort special city, developed by DK Asia in Seo-gu, Incheon, consisting of 21,313 households.
DK Asia is investing generously to make the resort special city, including the currently developing Wanggil Station Royal Park City Prugio, a heritage of Korea for the next 100 years, through specialized infrastructure and urban luxury landscaping and facilities that cannot be found even in the Gangnam 3 districts.
Recently, DK Asia self-increased the budget by 123.3 billion KRW to provide special benefits exclusive to the pilot complex of "Wanggil Station Royal Park City Prugio (Wangropu)."
First, the Royal Central Park will be created with an 8-meter-high gatehouse, a European-style central garden reaching 235 meters in height, giant zelkova trees over 15 meters tall, and roll turf. Additionally, a 140-meter circular well-being loess walking path, an 800-meter private walking trail, and themed forest paths will be constructed. Other facilities such as a teahouse harmonized with water features and the Queens Garden will also showcase the value of the resort special city.
Community facilities include a 6-star indoor swimming pool inspired by Ananti Resort, a 30-meter-long duplex indoor golf practice range with 10 bays, and Incheon's first premium European-style private screening room. Moreover, a luxury yacht Arabaetgil tour service using the country's largest 66-foot power catamaran yacht will be provided free of charge for five years, operating two weekend tours including day tours and sunset tours. A luxury yacht shuttle bus service called "Royal Diamond Service" will also be offered. Residents of Wanggil Station Royal Park City can enjoy parties and leisure on the yacht and safely return home via the dedicated bus. Two luxury buses will be provided free of charge for five years, operating twice on weekends.
The resort special city will offer Pulmuone's three-meal service, and to ensure the safety of Royal Park City residents, Korea's first Royal Guard system with enhanced security and protection services will be established.
Especially as a special benefit for pilot complex residents, each unit will be provided free of charge with the latest LG system air conditioner featuring air purification, and a column built-in refrigerator (auto door, Samsung/LG choice) consisting of refrigeration, freezing, and kimchi refrigerator functions, among a total of 33 free options, making it Incheon's first full-option apartment.
Meanwhile, the Wanggil Station Royal Park City Prugio (Wangropu), constructed by Daewoo E&C, will be a large complex with 15 buildings ranging from 2 basement floors to 29 above-ground floors, offering units of 59, 74, 84, and 99㎡, totaling 1,500 households. Landscaping is handled by Samsung C&T Resort Division, Korea's number one in landscaping.
The resale restriction period is six months, and there is no obligation for actual residence. Financial benefits include a 10% down payment with full interest-free benefits on interim payments, significantly reducing the purchasing burden. The housing exhibition center is located in Wanggil-dong, Seo-gu, Incheon.
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