- Bank of Korea Lowers Base Rate to 2.5 Percent... Market Interprets as Continued Easing Trend
- High Interest in "Unam Xi Foretna Firstiche" Amid Signs of Recovery in Regional Real Estate Markets
Following the Bank of Korea's decision to lower the base interest rate to 2.5% per annum, expectations for a recovery in the real estate market have risen further after Lee Jaemyung was officially elected as the 21st President on June 3. The reduction in interest rates has eased the burden of financing, and with hopes for policy changes under the new administration, signs of a general recovery in buying sentiment are emerging.
On May 17, during a meeting of the Monetary Policy Board, the Bank of Korea decided to cut the base rate by 0.25 percentage points, from 2.75% to 2.5%. After consecutive rate cuts in October and November last year, the rate was held steady in January this year, cut in February, held steady again in April, and now has been reduced for the second time this year. The market interprets this not as a temporary measure but as a continuation of an easing trend, and is paying close attention to the reaction of the housing market, especially among genuine buyers.
Notably, signs of recovery are appearing not only in the Seoul metropolitan area but also in major regional cities. In areas such as Gwangju, Daejeon, and Ulsan, transaction volumes have slightly increased and inquiries from buyers are also rising, indicating early signs of improved sentiment. As regional markets were hit hard by high interest rates, some analysts believe that if the base rate cut coincides with heightened policy expectations, a rapid recovery could be possible.
President Lee Jaemyung made housing stability and the expansion of supply for genuine buyers key pledges during his campaign. Accordingly, if policies such as regulatory easing, supply flexibility, and tax reforms are implemented in parallel, expectations are growing that the momentum for a market rebound could be strengthened.
Amid these developments, "Unam Xi Foretna Firstiche", constructed by GS Engineering & Construction and Hanwha Engineering & Construction Division, will consist of three complexes, with 37 buildings ranging from three basement levels to a maximum of 29 above-ground floors, and a total of 3,214 units sized between 59 and 109 square meters. Of these, 1,192 units sized between 59 and 84 square meters are currently being offered for general sale.
"Unam Xi Foretna Firstiche" is attracting attention by offering exceptional contract benefits. These include full interest-free loans for the entire interim payment (60%), free balcony extensions, complimentary provision of certain items, and the implementation of a safety guarantee program, all of which help reduce the financial burden for buyers.
The complex is conveniently located near Seogwangju IC, which connects directly to the Honam Expressway, as well as Bukmun-daero, making it easy to travel across the region. It also offers smooth access to all areas of Gwangju via the Second Ring Road, Haseo-ro, and Seogang-ro. In addition, a well-established neighborhood commercial district is situated in front of the complex, and residents have access to a variety of amenities such as Emart Gwangju, Shinsegae Department Store, Gwangju Express Bus Terminal, Unam Korea Hospital, and Gwangju Hyundai Hospital.
Directly in front of the complex are Gyeongyang Elementary School and Unam Middle School, ensuring safe commutes for children, while prestigious schools such as Geumho Jungang Middle School, Geumho High School, and Geumho Jungang Girls' High School are also nearby. Furthermore, Unam Library and the Unamdong private education district are within close proximity, providing easy access to educational resources.
In addition, a variety of specialized design features are expected to draw significant attention from potential buyers. First, the podiums of all buildings in the complex will be finished with ceramic tiles across four floors, and certain buildings will feature landmark rooftop sculptures and illuminated side wall designs. Large symbolic entrance gates and colonnades will also be installed. Within each unit, view-oriented glass railings will be used in living rooms and bedrooms to maximize natural light and views.
The community facilities will include a golf practice range with GDR systems at every bay, screen golf, a fitness center, and a GX room, offering residents a wide range of amenities. Each building's basement will provide a dedicated storage unit (one per household) for convenient storage of bulky or seasonal items.
Additionally, the complex's book cafe will be stocked with popular and steady-selling titles curated by Kyobo Bookstore, and an open coffee station (OCS) will be set up where residents can brew their own coffee and experience its flavors, allowing for an upgraded residential lifestyle within the complex.
Meanwhile, the large-scale commercial facilities within Unam Xi Foretna Firstiche are scheduled to be offered for sale in July, and the model home is located in the Gyeongyeol-ro area of Buk-gu, Gwangju Metropolitan City.
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