Sale Prices Surge Relentlessly...
Private Apartment Prices in Non-Metropolitan Areas Surpass 20 Million Won for the First Time This Year
Construction Cost Index Rises for Five Consecutive Years...
Standard Construction Costs Also Maintain Upw
The prices of newly built apartment units continue to soar. Experts attribute the upward pressure on pre-sale prices to the steady rise in construction material costs and construction expenses over the past few years. As pre-sale prices have been rising sharply nationwide, especially with private apartment prices in regional areas surpassing 20 million won per 3.3 square meters for the first time this year, consumer interest in newly launched apartment projects is growing.
According to data from Real Estate R114, the average pre-sale price of private apartments nationwide this year reached 21.31 million won per 3.3 square meters. This is an increase of about 3% compared to last year’s 20.69 million won. The surge is particularly pronounced in regional areas outside the Seoul metropolitan region. This year, the average pre-sale price of private apartments in these regions reached 20.24 million won per 3.3 square meters, up approximately 11.45% from last year’s 18.16 million won, marking the first time it has exceeded the 20 million won threshold.
The primary reason cited for this rise in pre-sale prices is the increase in construction costs. According to the Korea Institute of Civil Engineering and Building Technology’s “Construction Cost Index Trends for October 2025,” the construction cost index stood at 131.74 in October this year, up 1.11% from the same month last year. The index has shown a steady upward trend over the past five years, recording 116.79 in 2021, 125.6 in 2022, 129.13 in 2023, and 130.29 in 2024 for the same month.
The standard construction cost, which affects the price ceiling for pre-sale units, has also been consistently rising. In September this year, the Ministry of Land, Infrastructure and Transport announced that the standard construction cost was about 7.1742 million won per 3.3 square meters, up approximately 14.18% compared to the same month three years ago. After surpassing 7 million won per 3.3 square meters for the first time in March this year, the cost was raised again, and this upward trend is expected to continue for some time.
This increase in the standard construction cost is evaluated as having a significant impact on general apartment pre-sale prices. The standard construction cost is one of the components that make up the pre-sale price ceiling for homes subject to the price ceiling system. Since it serves as an important benchmark for price calculation, there is a high likelihood that even apartments not subject to the price ceiling will take the increased standard construction cost into account when setting prices.
An industry insider commented, “In addition to rising construction costs, the supply shortage of new apartments is becoming a reality, which will further drive up the pre-sale prices of new apartments in the future.” He added, “As concerns mount over the combination of supply shortages and soaring pre-sale prices, previously launched apartments with fixed prices are being revisited by buyers.”
Amid these circumstances, a newly built brand apartment with reasonable pre-sale prices and excellent contract terms is currently being offered in South Chungcheong Province, attracting strong consumer interest.
Doosan Engineering & Construction is currently selling “Doosan We’ve the Zenith Cheongju Central Park” in Sinbong-dong, Heungdeok-gu, Cheongju, North Chungcheong Province. The complex consists of 18 buildings with 2 basement levels and up to 31 floors above ground, offering a total of 1,618 units with exclusive areas ranging from 59 to 114 square meters.
The complex is being offered at a reasonable pre-sale price. The average price for an 84-square-meter unit is in the 460 million won range, which is more than 50 million won lower than the 513 million won transaction price for a unit of the same size at “Cheongju SK VIEW Xi” in September this year. Additionally, the complex features Doosan Engineering & Construction’s high-end brand “Doosan We’ve the Zenith,” which is expected to deliver differentiated product value and future potential.
The complex boasts excellent features. Most of the units are south-facing for optimal sunlight, and all units are designed with a plate-type layout to maximize ventilation. Furthermore, the highly popular 4-bay plate-type layout is applied to most units. Ample storage spaces such as pantries, dressing rooms, and utility rooms have also been introduced to further enhance practicality and convenience.
The complex will also offer a variety of community facilities. These include sports facilities such as a fitness center, golf practice range, and GX room for residents’ health, as well as a cafe lounge for relaxation, a small library and study room for children, and a care center, providing a diverse range of community amenities.
The future value of the complex is also high. The adjacent Bongmyeong-dong area (site of the Cheongju Agricultural & Marine Products Wholesale Market) has been designated as an Urban Regeneration Innovation District, which is expected to benefit the complex. According to the Ministry of Land, Infrastructure and Transport, the Bongmyeong-dong area in Heungdeok-gu, Cheongju, will be transformed into a mixed-use development hub integrating urban industry, culture, residential, and commercial functions. The plan includes various infrastructure such as a women’s integrated community center, a multi-purpose cultural library, and smart offices, as well as a complex of business, residential, living SOC, and commercial facilities.
In addition, the complex offers a “5% down payment with a fixed first payment of 10 million won.” This allows buyers to proceed with the purchase without any additional costs beyond the down payment until move-in, thereby reducing the initial financial burden.
Meanwhile, the model home for Doosan We’ve the Zenith Cheongju Central Park is located in Songjeol-dong, Heungdeok-gu, Cheongju, North Chungcheong Province.
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