‘Prime Location in Yangju Okjeong New Town’ Yangju Okjeong Yurim Norway Forest, Contract Until 12th

▶ A New Town with Direct Access to Gangnam Without Transfers, Continuous Rise in Sale and Jeonse Prices
▶ Emerging as the Best Place to Own a Home with No Loan Restrictions in Non-Regulated Areas and Benefits on Deposits and Interim Payments

Gangnam-gu Office, Hakdong, Nonhyeon Station, and other major business districts in Gangnam can be reached without transfers, bringing a favorable breeze to the real estate market of Okjeong New Town, a second-phase new town in the Seoul metropolitan area. The area is emerging as a prominent ‘hot place’ among second-phase new towns, with continuous rises in local sale and jeonse prices.

Okjeong New Town became a new town connected directly to Gangnam via subway without transfers, except for Wirye, Pangyo, and Gwanggyo, which are adjacent to Gangnam, as Seoul Subway Line 7’s Okjeong Station (tentative name) began construction in December last year.

In particular, Okjeong New Town has emerged as a non-regulated area under the government’s February 20 real estate measures, attracting both actual demand and investment demand, leading to steady increases in sale and jeonse prices. Despite a three-year resale restriction period as a public land in the metropolitan area, transactions have been rapidly conducted as soon as the resale restrictions on existing sale complexes are lifted.

In fact, the average sale price in Okjeong-dong in March was 8.51 million KRW per 3.3㎡, a 7.17% increase compared to March last year (7.94 million KRW), and the average jeonse price rose 16.26% (from 4.92 million KRW to 5.72 million KRW) during the same period. The number of sale transactions in March this year (up to the 11th) also reached 108, a 66.15% increase compared to last year’s 65 cases.

Also, Apartment A, which was sold in 2015, is currently traded at around 11 million KRW per 3.3㎡, recording about a 34% increase in sale price since the move-in time. If this trend continues, when Seoul Subway Line 7’s Okjeong Station (tentative name) opens and GTX-C Line’s Deokjeong Station (planned) begins construction, buyers will inevitably have to pay higher sale prices and jeonse prices to secure a home in Okjeong New Town.

Accordingly, a real estate agency in Okjeong New Town said, “As a non-regulated area, LTV 70% and DTI 60% are guaranteed, and depending on the sale complex, a fixed first deposit of 10 million KRW and 60% of the intermediate payment interest-free are supported, making Okjeong New Town a place where you can purchase a home at a reasonable price.” They advised, “Since prices are rising monthly and yearly, actual homebuyers and investors should look at complexes near Line 7’s Okjeong Station (tentative name) right now.”

■ Station area, school district, and forest area location ‘Yangju Okjeong Yurim Norway Forest’

Currently, Yurim E&C Co., Ltd. is conducting official contracts for ‘Yangju Okjeong Yurim Norway Forest’ until the 12th (Thursday). This complex has secured the so-called ‘three zones’ location?station area, school district, and forest area?which are highly valuable in Okjeong New Town.

The complex is adjacent to Seoul Subway Line 7’s Okjeong Station (tentative name), which began construction in December last year, and once completed, will allow direct travel to major Gangnam business districts such as Gangnam-gu Office, Hakdong, and Nonhyeon Station without transfers.

Additionally, it is located right next to educational facilities including Solbit Kindergarten, Okbit Elementary School (confirmed to open in March this year), and middle and high school sites (scheduled for March 2021), enabling walking commutes from kindergarten through high school, securing the highest level of school district location in Okjeong New Town.

Furthermore, the complex’s north and west sides border neighborhood parks, and the south side is a natural green area, providing an unobstructed expansive natural view, making it a forest area complex where residents can enjoy a pleasant living environment even in the city.

■ 4Bay slab-type structure design with large alpha rooms applied to all units

‘Yangju Okjeong Yurim Norway Forest’ is designed as a residential space that integrates Yurim E&C Co., Ltd.’s unique technology, product development, design, and philosophy.

Located in Okjeong New Town A-20(1) Block, the complex consists of 14 buildings ranging from two basement floors to a maximum of 35 floors above ground, with exclusive areas of 72 to 84㎡, totaling 1,140 households. It offers medium-small sized expanded floor plans with a 4Bay slab-type structure and three-sided balcony expansions (except for the 72㎡ units). The master bedroom includes a powder room and a wide dressing room.

Large alpha rooms that can be converted into study, pantry, or room types according to the buyer’s choice are provided in all units. Notably, it is the first in Yangju Okjeong New Town to provide individual storage rooms for all units, and when balconies are expanded, system air conditioners with air purification functions (living room + master bedroom) are provided free of charge.

The complex allows resale of pre-registration sale rights, and offers financial benefits that reduce the burden of home purchase, such as a fixed first deposit of 10 million KRW and 60% of the intermediate payment interest-free.

‘Yangju Okjeong Yurim Norway Forest’ is conducting official contracts until the 12th (Thursday), and the model house is located at 106-4 Okjeong-dong, Yangju-si, Gyeonggi-do. The expected move-in date is January 2023.

This content was produced with the assistance of AI translation services.