Recently, news of a US-originated interest rate cut has been heard, increasing industry interest in the real estate market. This is also confirmed by actual statistics. According to data from the Korea Housing Industry Research Institute, the nationwide Housing Business Outlook Index for September this year rose by about 0.2 points from the previous month (86.0) to 86.2. Although the metropolitan area showed some stagnation, it exceeded the baseline (100), suggesting that future trends can be monitored.
The industry analyzes that expectations of a US interest rate cut have positively influenced the real estate market. In fact, on September 19, the US Federal Reserve (Fed) held the Federal Open Market Committee (FOMC) meeting and announced a 0.5 percentage point cut in the benchmark interest rate for the first time in four and a half years. Furthermore, on September 27, Mark Cabana, US Head of Interest Rate Strategy, forecasted that the US Federal Reserve would cut rates by an additional 0.75% this year, further raising expectations.
If the domestic benchmark interest rate is actually lowered, experts expect many demanders to enter the domestic real estate market, and the impact is expected to extend to the pre-sale market.
An industry official said, “Positive sentiment due to the US benchmark interest rate expected at the end of this year is significantly influencing the expectation of loan interest rate cuts by major banks in Korea,” adding, “For this reason, interest in newly built pre-sale complexes among actual housing demanders is expected to increase further.”
Meanwhile, Hyundai Engineering is currently selling ‘Hillstate Sokcho’ in the Geumho-dong area of Sokcho-si, Gangwon Special Self-Governing Province. The complex is being developed on a scale of 925 households across 11 buildings, ranging from 3 basement floors to 25 above-ground floors, with exclusive areas of 84 and 104㎡.
The complex boasts a pleasant natural environment. Within a 2 km radius is Deungdae Beach. To the west of the complex lies Seoraksan Mountain. As a result, some units in the complex offer multi-view scenery of Yeongnangho Lake, Cheongchoho Lake, the East Sea, Seoraksan Mountain, and Ulsan Rock.
In addition, ‘Hillstate Sokcho’ is receiving high interest from demanders due to its excellent product quality and convenient living infrastructure. In particular, the complex offers a financial benefit of a 5 million KRW down payment with no additional costs until move-in, which is expected to attract even greater attention.
Meanwhile, the model house for Hillstate Sokcho is located in the Joyang-dong area of Sokcho-si, Gangwon Special Self-Governing Province.
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