Growing Momentum for Interest Rate Cuts... 'DH Daechi Edelweiss' Sales Launch

[The H Daechi Edelweiss Tussido]

As the possibility of a domestic base interest rate cut arises following recent interest rate reductions in the United States, apartment buyers who had been in a wait-and-see mode are beginning to take action. Furthermore, with the likelihood of additional rate cuts by the end of the year increasing, the real estate market is showing signs of recovery.

In fact, last September, the U.S. Federal Reserve (Fed) held a Federal Open Market Committee (FOMC) meeting and announced a 0.5 percentage point cut in the base interest rate for the first time in four and a half years. Additionally, by leaving the door open for further rate cuts in November, it is expected that domestic base interest rates will also decrease, leading to an increase in real demand from homebuyers.

As the possibility of interest rate cuts rises, the nationwide real estate market sentiment is reviving. According to the Korea Real Estate Board’s nationwide housing price trend survey in August, the sales price index showed a wider increase nationwide compared to the previous month (0.15%p). In particular, Seoul recorded 0.83%, showing a larger increase compared to the previous month (0.76%p).

Industry experts analyze that apartment prices are rising mainly in Seoul, and with interest rate cuts expected, many buyers’ attention is turning to real estate.

An industry official said, “The U.S. interest rate cut is revitalizing the pre-sale market,” adding, “With the possibility of additional U.S. rate cuts in November and expectations for domestic base rate cuts, inquiries from buyers are flooding in.”

Meanwhile, Hyundai Engineering & Construction is launching sales for ‘The H Daechi Edelweiss’ in Daechi-dong, Gangnam-gu, Seoul, in October. The complex will consist of 8 buildings ranging from 4 basement floors to 16 above-ground floors, with a total of 282 units sized between 59 and 125㎡. The general sale units will include 72 units sized between 59 and 94㎡.

The H Daechi Edelweiss will be supplied as the first Hyundai Engineering & Construction high-end apartment brand ‘THE H’ in Daechi-dong. With the pre-sale price system applied, it offers reasonable prices, attracting strong interest from buyers.

According to Naver Real Estate, nearby ‘Daechi L’ is listed with 9 sales listings for 59㎡ units priced between 2.45 billion and 2.6 billion KRW. Additionally, ‘Daechi Prugio Summit’ has about 24 listings for 84㎡ units with market prices around 3.6 billion KRW. In contrast, ‘The H Daechi Edelweiss’ is priced competitively at around 1.5 to 1.6 billion KRW for 59㎡ units and 2.0 to 2.2 billion KRW for 84㎡ units.

The complex boasts an excellent location. It is situated within walking distance of prestigious schools such as Daehyun Elementary, Daemyeong Middle, and Huimun Middle and High Schools, with Dandae High School, Jinseon Girls’ High School, and Sookmyung Girls’ High School nearby. Also, the Daechi-dong academy district, known as the top tutoring area in Korea, is close by, attracting real demand from families with school-age children.

Transportation conditions are also excellent. It is conveniently accessible to Line 2 (Samseong Station), Line 3 (Daechi Station), and the Suin-Bundang Line (Hanti Station). Through Gangnam’s Teheran-ro, Dongbu Expressway, and Olympic-daero, it offers easy access to the Gangnam business district, all of Seoul, and the metropolitan area.

Nearby lifestyle amenities are well established. The complex is close to Hyundai Department Store Trade Center Branch, Starfield COEX Mall, and E-Mart Yeoksam Branch, as well as major hospitals such as Gangnam Severance Hospital and Samsung Seoul Hospital.

Additionally, a variety of community facilities are planned, including a golf practice range, screen golf, screen tennis, screen baseball, basketball practice room, fitness center, GX room, showers, private study rooms, and a book caf?.

Meanwhile, the model house for The H Daechi Edelweiss will be located in Yangjae-dong, Seocho-gu, Seoul, and is scheduled to open in October. The sales schedule includes the announcement of the resident recruitment on Thursday, September 26, special supply on Tuesday, October 8, first-priority local subscription on Thursday, October 10, and the winner announcement on Friday, October 18.