Capital Region Housing Sales Down 87%... Interest in 'Paju Munsan Station 3rd Dongmun The East Central'

- Nationwide New Apartment Supply Drops 59% Year-on-Year... 87% Decrease in the Seoul Metropolitan Area
- "Paju Munsan Station Phase 3 Dongmoon The East Central": Worth Securing Before It's Too Late

From January to February (as of the 14th) this year, the supply of new apartments through Cheongyak Home has decreased by more than half compared to the same period last year. This decline is particularly pronounced in the Seoul metropolitan area. As a result, homebuyers' attention is focusing on the 'prime' complexes currently being supplied in the metropolitan area.

According to the Korea Real Estate Board's Cheongyak Home, the number of apartments introduced to the nationwide subscription market from January to February (as of the 14th) this year totaled 4,781 units (excluding special supply). This represents a 59% (6,832 units) decrease compared to the same period last year (11,613 units). This confirms the recent forecast by Real Estate R114 that the nationwide apartment supply (excluding rentals) in the first half of this year would decrease by 41.9% compared to the first half of last year.

In particular, the decline in new apartment supply is even greater in the Seoul metropolitan area. From January to February (as of the 14th) this year, 591 units were supplied in the metropolitan area, which is about an 87% decrease compared to the same period last year (4,249 units). Compared to 2022 (7,466 units), this is a 92% reduction.

The cause of this decline in new supply is largely attributed to the sharp rise in various raw material costs necessary for construction due to tariff and exchange rate risks. As a result, the construction cost index has risen by about 32% over the past five years, leading to recent conflicts over construction costs and construction stoppages.

A real estate official explained, “As the construction industry's economy worsens amid unstable market conditions, the downward trend in new supply is expected to continue. Consequently, homebuyers are turning their attention to new complexes that have already been launched for sale.”

A representative example is the surge in inquiries from buyers for Dongmoon Construction’s ‘Paju Munsan Station Phase 3 Dongmoon The East Central,’ which is currently conducting first-come, first-served contracts. Notably, the sale price for the 59㎡ exclusive area starts at 283.7 million KRW, and the 74㎡ and 84㎡ units are priced in the 300 to 400 million KRW range, attracting attention as a rare price point in the metropolitan area.

Moreover, this complex offers various benefits for buyers. These include a 5% down payment, a fixed first installment of 10 million KRW, full interest-free benefits on 60% of the intermediate payments, and free options worth about 10 million KRW (when expanding the balcony), drawing buyers’ interest with diverse financial incentives.

‘Paju Munsan Station Phase 3 Dongmoon The East Central’ will be constructed with 7 buildings ranging from 2 basement floors to a maximum of 28 floors above ground, totaling 951 units.

‘Paju Munsan Station Phase 3 Dongmoon The East Central’ boasts an excellent location with access to transportation, education, infrastructure, and nature. The Gyeongui-Jungang Line’s Munsan Station is located right in front of the complex, allowing quick access to Seoul. Additionally, once the GTX-A line (planned) opens at Daegok Station, transfers will enable travel to Seoul Station within 40 minutes. Furthermore, local government-led transportation projects such as the ‘KTX Paju Extension’ and the ‘GTX Plus Line Plan’ are ongoing, raising expectations for premium value.

Also, the complex is situated within walking distance of elementary, middle, and high schools, making it highly preferred by parents with young children. Munsan Elementary School, Munsan Middle School, and Paju High School are located right in front of the complex, with Munsanbuk Middle School and Munsan High School nearby, all accessible on foot. Being in a walkable school zone allows parents to safely oversee their children’s commute and enables children to attend school with their elementary school friends through high school for 12 years, providing emotional stability.

‘Paju Munsan Station Phase 3 Dongmoon The East Central’ also offers access to various lifestyle infrastructure facilities that enhance residential convenience. Residents can conveniently use the Munsan Station area infrastructure, including CGV, Homeplus, Munsan Central Hospital, and Munsan Free Market, all within the Dangdong living area. Additionally, residents can enjoy a pleasant natural environment nearby, including Munsancheon Stream, Dangdong Park, Bukbu Park, and Tongil Park.

As a rare new complex in Paju Munsan-eup, this project incorporates Dongmoon Construction’s specialized design know-how, resulting in excellent internal product quality. The complex will feature specialized designs that consider residents’ convenience to provide a superior living environment. For example, a 4-Bay floor plan (excluding some types) will be applied to enhance residential convenience, and cross-ventilation designs between the living room and kitchen will create a comfortable living space. Additionally, spacious and trendy spaces such as pantries and dressing rooms (varying by type) will be provided, allowing residents to choose spaces that suit their lifestyles.

Furthermore, various community facilities such as an indoor golf practice range, fitness center, small library, reading room, and an on-site daycare center are planned to offer residents a comfortable living environment.

Detailed sales information can be found on the website and at the model house. The model house for Dongmoon Construction’s ‘Paju Munsan Station Phase 3 Dongmoon The East Central’ is located in Dayul-dong, Paju-si, Gyeonggi-do.