Wonju City Sees Decrease in Unsold Units and Increase in Transactions... 'Wonju Moaelga Grande' Attracts Attention

- July Unsold Housing Survey Results Show Approximately 5.2% Decrease Compared to Late June... GTX Expectations Rise
- 'Wonju Moaelga Grande' Housing Exhibition Hall to Open on August 24, Drawing Attention

[Perspective View of Wonju Moaelga Grande]

Amidst the severe issue of unsold housing units in provincial areas due to the recent real estate market slump, Wonju City in Gangwon Province is drawing attention as the unsold inventory is being resolved.

Provincial cities tend to have smaller market sizes, so the sales performance of certain complexes can cause significant fluctuations in unsold units. Therefore, experts advise continuous monitoring to objectively observe market changes.

The number of unsold households in Wonju decreased by about 5.2%, from 2,170 units at the end of June to 2,057 units in mid-July. After the large-scale apartment complex redevelopment in Wondong was launched in May, the number of unsold units in Wonju exceeded 2,000, but most previously launched complexes reportedly had contracts exceeding 80%.

Last year, the ‘Doosan We’ve The Zenith Central Wonju (launched in August 2022)’ located in Wondong, Wonju, announced a complete sell-out.

Transaction volume is also increasing. According to the Ministry of Land, Infrastructure and Transport’s real transaction price disclosure system, apartment sales transactions in Wonju, Gangwon Province, rose from 2,488 in the first half of 2023 to 2,645 in the second half, and reached 2,963 in the first half of this year.

The signs of recovery in Wonju’s real estate market are attributed to the anticipation of the GTX (Great Train Express) benefit. In January, the government confirmed plans to extend the GTX-D line to Wonju as part of three major transportation innovation strategies. This will enable travel from Wonju to downtown Seoul within an hour.

An industry insider said, “Recently, positive changes such as the resolution of unsold units and increased transaction volume have appeared in the Wonju real estate market. Especially, interest in supply complexes is growing due to the expected future benefits of GTX.”

In this context, ‘Wonju Moaelga Grande,’ which announced the opening of its housing exhibition hall on August 24, is attracting attention. Located in Dangu-dong, a highly preferred residential area within Wonju, it offers exceptional sales conditions, making it possible to purchase a home at a reasonable price.

The complex consists of six buildings ranging from two basement floors to 20 above-ground floors, with units sized between 59 and 84 square meters, totaling 353 households. All units are medium to small-sized, which are in high demand.

‘Wonju Moaelga Grande’ is receiving positive responses for its exceptional financial benefits that reduce the financial burden on buyers. After loan approval, buyers receive a contract congratulatory payment, allowing home purchase with an actual down payment of 5 million KRW. The entire intermediate payment is interest-free, so there are no additional costs until move-in, and resale is possible immediately after contract.

Dangu-dong, where the complex is located, is considered the center of a new residential belt connecting Wonju’s old downtown, the planned Bangok district, and the Innovation City. Its excellent accessibility to various living areas means residents can share abundant infrastructure.

‘Wonju Moaelga Grande’ is situated right in front of Wonju Middle School, with elementary, middle, and high schools such as Myeongryun Elementary, Wonju High, and Sangji Girls’ Middle and High Schools nearby, ensuring safe commuting for students. The Myeongryun-dong academy district, home to Wonju City Central Library and various private academies, is also close. The nearby Wonjucheon stream is ideal for walking or exercising, and the surroundings include abundant green spaces such as Bongsan, Namsan Park, Dangu Neighborhood Park, Wonju Sports Complex, and Central Park.

About a 10-minute drive away are Wonju Station on the KTX Jungang Line and Wonju Express Bus Terminal. The nearby Yeongdong Expressway and Jungang Expressway provide easy access to both urban and suburban areas. Additionally, large shopping and cultural facilities such as large marts, Homeplus, Nambu Market, and Lotte Cinema are nearby, along with major hospitals like Wonju Severance Christian Hospital and Gangwon Special Self-Governing Province Wonju Medical Center.

The area around ‘Wonju Moaelga Grande’ is expected to have future value due to a large-scale development project planned, roughly the size of 38 soccer fields. In Dangu-dong, Wonju, there are plans to relocate a military base to the city outskirts (about 87,000 square meters) and to move the Tongil Apartments (about 140,000 square meters). New apartments are also scheduled to be built in this area, which is expected to increase the local value through improved residential environments.

Near the complex, the construction of ‘The Art Gangwon Complex,’ known as the Gangwon Opera House, is also underway. This facility, boasting a 2,000-seat capacity, will be a multi-cultural space consisting of an opera theater, multipurpose performance hall, cultural creation, and experience center.

The housing exhibition hall for ‘Wonju Moaelga Grande’ is located next to the Wonju Comprehensive Bus Terminal in Gangwon Province and is scheduled to open on August 24.