DK Asia's 'Wanggil Station Royal Park City' Accelerates Contracts with 5% Down Payment

- Subway Line 9 and Airport Railroad Direct Connection Project Confirmed, Line 7 Extension Planned
- Large Complex with 1,500 Households, Exclusive Areas of 59, 74, 84, and 99㎡

The contract deposit for the ‘Wanggil Station Royal Park City Prugio’ apartment, the first premium pilot complex among the resort special city consisting of a total of 21,313 households, has been reduced to 5%. At the same time, with full interest-free benefits on the intermediate payments and being introduced as Incheon’s first ‘full-option’ apartment, consumers can save an additional cost worth about 100 million KRW, attracting great interest.

DK Asia announced that the contract deposit for Wanggil Station Royal Park City has been lowered from the existing 10% to 5%. For intermediate payment loans, full interest-free loans are provided, so an apartment contract is possible with only 5% of the total sale price. In fact, a 34-pyeong apartment can be purchased for about 30 million KRW, and there are no additional costs until move-in. Currently, the interest rate on intermediate payment loans is around 4-5% depending on the bank, so the repayment burden remains high, but this significantly reduces the financial burden. Additionally, a contract safety guarantee system is implemented, which is retroactively applied in case of future contract condition changes.

At the same time, the ‘full-option’ provided with 33 items further enhances the price reduction effect. It is Incheon’s first full-option apartment that provides the latest LG system air conditioners with air purification functions in each room and LG Objet Column built-in refrigerators consisting of refrigeration, freezing, and kimchi refrigerators free of charge.

A sales official said, “With the unprecedented sales benefits such as a 5% contract deposit, full interest-free intermediate payments, and 33 options worth about 100 million KRW, the number of visitors to the housing exhibition hall is rapidly increasing.” He added, “Contracts are steadily made mainly by the affluent Noblian 4060 generation, and residents of so-called affluent areas in the Gangnam 3 districts and Yongsan are also visiting the housing exhibition hall in person to sign contracts.”

Also, the ‘Newborn Special Loan’ is available, attracting interest from younger generations. The Newborn Special Loan is a government-supported project that provides low-interest loans of up to 500 million KRW for households with children born after January 1 of last year, with a combined annual income of 200 million KRW or less, and for houses priced under 900 million KRW. The purchase loan interest rate is applied at a minimum annual rate of 1.63%, depending on income, loan period, and preferential interest rates.

Meanwhile, Wanggil Station Royal Park City is a large complex consisting of 15 buildings from basement level 2 to ground level 29, with exclusive areas of 59, 74, 84, and 99 square meters, totaling 1,500 households. The construction is handled by Daewoo Engineering & Construction, a renowned housing company, and landscaping is managed by Samsung C&T Resort Division, Korea’s No. 1 in landscaping, which upgraded the project last year by increasing construction costs. Move-in is scheduled for September this year, and the housing exhibition hall is located in Wanggil-dong, Seo-gu, Incheon.

Wanggil Station Royal Park City boasts a pleasant natural environment with its location near the Ara Waterway, surrounded on three sides by mountains in a baesanimsu (mountain at the back, water in front) terrain, and a 19,000-pyeong central park right in front of the complex that can be used like a garden.

Inside the complex, there is Incheon’s first indoor golf course equipped with GDR devices, a hotel-style swimming pool and sauna, a premium cinema where simultaneous screenings can be viewed, and private reading rooms. There is also a fitness center equipped with Italian luxury TechnoGym brand exercise equipment and a three-meal service. Additionally, a luxury yacht service is provided, enabling a high-quality lifestyle within the complex.

Wanggil Station Royal Park City is also excellent in terms of location, offering convenient transportation and amenities. It is located in the station area of Wanggil Station on Incheon Subway Line 2, and through the Airport Expressway and Airport Railroad, it provides easy access not only to all of Incheon but also to the Gangnam area, Seoul Gangseo (Magok), Gimpo, and other neighboring regions. In particular, with the confirmed direct connection project between the Airport Railroad and Seoul Subway Line 9, it will be possible to reach Gangnam directly within 40 minutes (express train basis) without transfers, and Seoul Subway Line 7 is also scheduled to change its route via Cheongna. Residents can conveniently travel to Geomam Station as well as Wanggil Station using the limousine service provided by DK Asia.

Furthermore, it is advantageous that it serves as a residential area for major conglomerates. As demand with purchasing power gathers, there is a high possibility that regional development will become more active. A representative example is Hana Financial Group, which is settling in Cheongna. Known as the Cheongna Group Headquarters, six affiliates of Hana Financial Group will be located there, with completion scheduled for the end of 2025.

Robot-related companies also attract attention. Yuil Robotics, an automation specialist company, is planning to expand its headquarters and factory by relocating to an 8,000-pyeong (about 26,000 square meters) site within the Cheongna IHP Urban High-tech Industrial Complex, and will focus on expanding production capacity.

Additionally, LG Magna e-Powertrain has established its headquarters in the Seo-gu Western Industrial Complex in Incheon, and BMW Group Korea has opened an R&D center in Cheongna International City. Moreover, the Seoul Asan Hospital consortium has been selected as the preferred negotiator for the Cheongna Medical Complex Town and is developing a general hospital, medical bio-industry-academic research facilities, etc., aiming to open in 2029. Also, retail giants Costco Cheongna is scheduled to open in August 2024, and Starfield Cheongna in 2028. Especially, Starfield Cheongna will be Korea’s first stay-type shopping mall combined with a dome stadium.

Real estate info research team leader Kwon Il said, “Seo-gu, Incheon is not just transforming the area but is restructuring the economic landscape of the metropolitan area, with everything from administrative reorganization of Geomdan-gu, housing supply, corporate attraction, to transportation network expansion being strategically carried out.” He added, “In particular, as private development creates synergy, Geomdan-gu is planned to be developed as a complex space where culture and life converge beyond a simple residential area, transforming into a new affluent area in the metropolitan area.”