- Exempt from June 27 Measures and Phase 3 Stress DSR... Homebuyers Rush In Before Regulations Take Effect
- Reasonable Sale Price and Proximity to Seoul... First Priority Applications Open on Tuesday, July 8
As the government expands stringent lending regulations across the board to curb overheating in the real estate market, the threshold for genuine homebuyers to purchase a home has become even higher. This is because the "Strengthened Household Debt Management Plan" and the implementation of the third phase of the Stress DSR have coincided, leading to a rapid contraction in lending conditions for buyers in the Seoul metropolitan area.
The Financial Services Commission held an "Emergency Household Debt Review Meeting" on June 27 and announced the "Strengthened Household Debt Management Plan," which centers on tighter lending regulations. The key measures include: a 600 million won cap on mortgage loans, a maximum maturity of 30 years, a requirement to move in within six months when using a mortgage loan, and, in principle, a ban on mortgage loans for those owning two or more homes. These measures took effect immediately on June 28.
This policy is creating a synergistic effect in combination with the implementation of the third phase of the Stress DSR. The Stress DSR is a system that assesses repayment ability by applying an interest rate 1.5 percentage points higher than the actual rate during loan screening. It was introduced this month, starting with the Seoul metropolitan area and areas at risk of speculation. As a result, the actual loan limits perceived by genuine buyers have been significantly reduced, and there have been numerous cases of contract cancellations in the real estate transaction market.
Following the announcement of the measures, real estate agencies in Seoul and the surrounding metropolitan area saw a surge in buyers rushing to sign contracts before the regulations took effect. Experts analyze that, "Buyers who had been searching for homes based on their loan plans are now readjusting their funding strategies due to the sudden tightening of regulations."
Amidst this, some complexes that fall outside the scope of the regulations are emerging as alternative options for genuine buyers. "Opus Hangang Switzen," which recently opened a model home, is cited as a representative beneficiary. Located in Gochon-eup, Gimpo, this complex was excluded from the third phase of the Stress DSR because its tenant recruitment notice was issued before the regulation's implementation date. It was also not directly affected by the June 27 measures.
Consequently, as a complex not subject to the third phase of the Stress DSR or direct household loan restrictions, there are no move-in requirements or loan limit caps, offering relatively high flexibility in financial planning. In particular, even multi-homeowners can obtain mortgage loans, and loans exceeding 600 million won are allowed, making it an attractive option for both end-users and those considering upgrading their homes.
The locational rarity of being within the Seoul living area while avoiding regulations is also drawing attention. The sale price has been set at a reasonable level compared to nearby market prices. For an exclusive area of 84 square meters, prices start in the low 600 million won range, and the cost for balcony expansion is set at 5 to 6 million won, reducing the actual financial burden of the sale price.
The subscription schedule is as follows: first priority on Tuesday, July 8; second priority on Wednesday, July 9; the winner announcement on Friday, July 18; and the contract signing period from Tuesday, July 29 to Thursday, July 31, spanning three days. Applications are open nationwide, and any adult aged 19 or older can apply even if they are not the head of household. Existing homeowners are also eligible to apply. Additionally, resale before move-in is permitted.
The complex will be developed as part of the Hangang Cinepolis development project in the Gochon-eup area of Gimpo, Gyeonggi Province, consisting of nine buildings with two basement levels and up to 25 floors above ground, offering a total of 1,029 units with exclusive areas ranging from 84 to 99 square meters. The unit breakdown by exclusive area is as follows: 619 units of 84㎡A, 120 units of 84㎡B, 194 units of 84㎡C, 48 units of 99㎡A, and 48 units of 99㎡B, allowing for a variety of lifestyle choices.
The model home is located in the Janggi-dong area of Gimpo, and move-in is scheduled for August 2028.
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