- Serious Loan Regulations Trigger Urgent Fundraising for Remaining Payments in Residential Complexes Within 1-2 Years
- Newly Launched Complexes This Year Anticipate Benefits from Expected Regulatory Easing at Move-in Time
Recently, the government has been implementing full-scale household debt suppression policies, becoming a major variable in the real estate market. Starting from September 1, the loan limit for mortgage loans was reduced under the second stage of the stress DSR, and measures such as introducing LTI (Loan-to-Income ratio) for credit loans, which are experiencing a balloon effect due to loan restrictions, are gaining traction to reduce the maximum limit to within annual income.
Additionally, KB Kookmin Bank, Shinhan Bank, Woori Bank, Kakao Bank, and others are strengthening the application conditions for mortgage loans, and there are even ultra-strong measures such as suspending the handling of jeonse loans to prevent gap investments.
As of August, the increase in household loans at the five major domestic commercial banks reached a record high of 9.6259 trillion KRW, and the fact that housing prices, centered around Seoul, have begun to rise in earnest is also cited as a background for strengthening loan regulations.
However, there are criticisms that demand suppression measures through regulations have limitations. The Korea Development Institute (KDI) released an internal evaluation stating that the effect of real estate loan regulations lasts at most six months, and there is a prevailing view that if strong demand exists in the market, loans and home purchases may actually increase.
An industry insider said, “Due to the recently intensified loan regulations, apartment contract holders who move in within the next 1-2 years may face difficulties with balance loans, but in the long term, interest rate cuts are expected to begin in earnest from the second half of this year, so places with new sales and move-ins remaining 3-4 years or more are expected to benefit from the easing of loan regulations.”
Amid this market situation, HL D&I Hanla plans to officially launch sales of ‘Mapo Epyt Urbanic’ in the Ahyeon-dong area of Mapo-gu, Seoul, in September. The project site is an urban maintenance-type redevelopment site, designed as two apartment buildings (exclusive area 34-46㎡) with 198 units and officetels (exclusive area 42/59㎡) with 209 units, ranging from basement 5 floors to ground 24 floors.
HL D&I Hanla is attracting attention by launching a new premium residential brand ‘Epyt’ after 27 years since ‘Hanla Vivaldi,’ and this is the first complex introduced in Seoul.
The complex is a super-station area apartment located just a 2-minute walk from Aeogae Station on Seoul Subway Line 5, allowing easy access to Seoul’s major business districts such as Yeouido, Gwanghwamun, City Hall, Jongno, and Gangnam. It is also close to Gongdeok Station, a transfer station for Subway Lines 5 and 6, Gyeongui-Jungang Line, and Airport Railroad.
The surrounding educational environment is dense with many elementary, middle, and high schools, including nearby Ahyeon Elementary, Seoul So-ui Elementary, Gongdeok Elementary, Hanseo Elementary, Ahyeon Middle, Sungmoon Middle, Seoul Girls’ Middle, Hwanil Middle, Baemoon Middle, Hwanil High, and Baemoon High. Also located nearby are Son Ki-jeong Children’s Library, Mapo Lifelong Learning Center, Cheongpa Library, Yonsei University, Sogang University, Ewha Womans University, and Sookmyung Women’s University.
The community facilities include a fitness center, GX room, golf club, table tennis room, dancing room, locker rooms & showers, and for residential officetels, the 59㎡ exclusive type features a 3-bay 2-room layout with two bathrooms, a U-shaped kitchen, separate laundry room and pantry, and a balcony applied for the first time in Seoul to maximize practicality. Home appliances, furniture, and middle doors are also provided free of charge.
A sales official stated, “About four years after moving into Mapo Epyt Urbanic, it is expected to form a considerable premium as it will be free from loan regulations and the shortage of new apartment supply will be highlighted,” adding, “There are many buyers preparing to apply for brand complexes near Seoul subway stations.”
The ‘Mapo Epyt Urbanic’ model house is located near the northern end of Hangang Bridge in Yongsan-gu, Seoul.
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