Base Interest Rate Hits 2% Range for First Time in 2 Years 6 Months... ‘Goyang The Sharp Forena’ Scheduled for April Sale

- Era of 2% Base Interest Rates... Will the Real Estate Market Regain Momentum?
- Expectations of Rising Sale Prices, Buyers Perceive "Now Is the Time to Buy"

There is a growing expectation that the apartment sales market will regain momentum soon. This is due to the ongoing rise in sale prices and the spreading perception that house prices will increase following interest rate cuts.

On February 25, the Bank of Korea set the base interest rate at 2.75%. This marks a 0.75 percentage point (p) decrease compared to the same month last year (3.5%) and is the first time since August 2022 that the base rate has fallen into the 2% range.

This trend of interest rate cuts is expected to continue. Goldman Sachs predicted a domestic base interest rate of 2.25% for this year during last year's '2025 Korea Macroeconomic Outlook' briefing.

The real estate industry also analyzes that this interest rate cut will bring back buyers who had been on the sidelines. Additionally, the continued rise in apartment sale prices is seen as a key factor attracting buyers back to the market.

According to data from the Housing & Urban Guarantee Corporation (HUG) titled ‘February Private Apartment Sale Price Trends,’ the average sale price per square meter for private apartments nationwide in February this year was 5,763,000 KRW, up about 0.23% from the previous month. Compared to the same month last year, this represents an increase of approximately 7.4%. Furthermore, the mandatory implementation of the 'Zero Energy Building Certification' starting this year is expected to sustain the rise in sale prices.

Given these circumstances, buyers interested in new apartments are showing increased attention to the sales market. Among buyers, the perception that "now is the cheapest time" is spreading.

An industry insider stated, "With anticipated house price increases following further interest rate cuts, the difficulty for non-homeowners to secure their own homes will intensify. As a result, interest from buyers is returning to the sales market, especially for complexes with excellent locations and products, which are expected to receive high attention."

Meanwhile, the POSCO E&C consortium plans to launch sales for ‘Goyang The Sharp Forena’ in Deogyang-gu, Goyang-si, Gyeonggi-do, in April. The complex will consist of 17 buildings ranging from three basement floors to a maximum of 35 floors above ground, with a total of 2,601 units sized between 39 and 84 square meters. Among these, 636 units sized 39 to 74 square meters will be offered for general sale.

‘Goyang The Sharp Forena’ boasts excellent living infrastructure. The complex is close to large convenience facilities such as Lotte Mart, E-Mart, Costco, Starfield Goyang, and IKEA Goyang. Access to general hospitals like Myongji Hospital under the Myongji Medical Foundation and Dongguk University Ilsan Buddhist Hospital is also convenient. Upon completion of the Wondang Complex Community Center project scheduled for 2028, various amenities including Wondang Library, Family Center, Administrative Welfare Center, and Learning Center will be expanded.

The educational environment is also a strong point. The complex is an ‘elementary school within walking distance’ (Chopuma) area, including Wondang Elementary School, allowing safe commuting for young children. Nearby are Seongsa Middle School and Seongsa High School, making it notable for having elementary, middle, and high schools all in close proximity. Additionally, it is located near popular academy districts in Hwajeong-dong and Haengsin-dong within Deogyang-gu.

A pleasant residential environment adds further value. Nearby green spaces such as Masang Neighborhood Park and Seongsa Sports Park provide a comfortable living environment. The Goyang Eoullim Nuri complex cultural facility is also close by, offering various sports facilities including swimming pools and gyms, as well as cultural venues like performance halls, art galleries, and theaters.

The convenient transportation environment is another highlight. The complex is near major roads such as Hoguk-ro, Saebit-ro, and Goyang-daero, facilitating easy travel to other areas. Accessibility to highways including the Metropolitan Area 1st Ring Expressway, Jayu-ro, and Gangbyeonbuk-ro is also excellent. Moreover, multiple bus routes passing through Wondang Station on Subway Line 3 allow easy access to Seoul.

There are also abundant nearby development benefits. The complex is close to Daegok Station, which provides access to the GTX-A line of the Metropolitan Area Express Railway. Since last March, the Dongtan?Suseo section opened, and in December, the Paju Unjeong Central?Seoul Station section was added, improving transportation convenience. The GTX-A line spans 82.1 km, connecting Paju Unjeong to Kintex Station, Daegok Station, Suseo Station, and Dongtan.

The Gyeongui Line also reopened in January this year. The Gyeongui Line is a 31.9 km route connecting Goyang and Uijeongbu, with six stations: Daegok, Wonreung, Ilyeong, Jangheung, Songchu, and Uijeongbu. This allows travel from Daegok Station to Uijeongbu Station in about 50 minutes.

Additionally, the Goyang-Eunpyeong Line is scheduled to open in 2031. This 15 km metropolitan railway will connect Goyang City Hall, Changneung District, and Saejeol Station on Subway Line 6. The project, with a total budget of 1.7167 trillion KRW, plans eight stations. Upon completion, transportation convenience in the northwest metropolitan area will dramatically improve, further solidifying Goyang’s status as a ‘neighboring Seoul’ area.

Meanwhile, the model house for ‘Goyang The Sharp Forena’ is scheduled to open in April in Dongsan-dong, Deogyang-gu, Goyang-si, Gyeonggi-do.