'Jeju Jungbu Park Jeil Punggyeongchae Central Park' Binding Contract Until the 20th

Jeil Construction announced on the 18th that the official contracts for 'Jeju Jungbu Park Jeil Punggyeongchae Central Park,' supplied in the area of 167 Geonip-dong, Jeju City, Jeju Island, will be conducted over three days until the 20th.

'Jeju Jungbu Park Jeil Punggyeongchae Central Park' perspective / Image courtesy of Jeil Construction

Jeju Jungbu Park Jeil Punggyeongchae Central Park will be built with 12 buildings ranging from 4 basement floors to 15 above-ground floors, totaling 728 households with exclusive areas of 66 to 124㎡. By exclusive area, there are ▲130 units of 84㎡A ▲87 units of 84㎡B ▲231 units of 84㎡C ▲102 units of 119㎡A ▲28 units of 119㎡B ▲75 units of 124㎡. The expected move-in date is April 2027.

In the 1st and 2nd priority subscription previously conducted, 776 applications including from other regions were received for 653 households, far exceeding last year's largest number of subscriptions in Jeju, which was 115.

As Jeju's first private park special project, the sale price is also reasonable. The average sale price per 3.3㎡ is 24.25 million KRW, which is lower than last year's average sale price for private apartments in Jeju (25.74 million KRW per 3.3㎡). Additionally, the first deposit is 5% (a fixed amount of 10 million KRW at contract signing + 2 installments of the balance), the second deposit is 5% with interest support, and there is a free benefit for balcony expansion. Two shuttle buses will also be provided for safe commuting to school.

It is also notable that the project avoided the recently introduced Stress Debt Service Ratio (DSR) regulation. The project received approval for the recruitment announcement before the 26th of last month, when the Stress DSR began to be applied, so the regulation does not apply to the balance loan.

A representative of Jeil Construction Co., Ltd. said, "From location to scale and product design, this complex stands out in Jeju," adding, "Many demanders have inquired before and after the subscription, so we expect to achieve good results in the contracts as well."