Target Pre-sale Complexes with Lower Price Burden... 'Ulsan New City Eilin's Garden Phase 2' Now Accepting First-Come, First-Served Contracts

- Rising raw material costs make price hikes for new units certain... Steady interest in previously sold complexes with lower price burdens
- Ulsan New City Eilin's Deul 2nd phase gains popularity with price competitiveness and increased expectations after the presidential election

As raw material prices soar sharply, there are growing expectations for price increases in newly launched apartment sales. Consequently, consumer interest in previously sold complexes, which have relatively lower price burdens, is steadily rising, drawing attention.

In fact, prices of raw materials necessary for apartment construction, such as rebar and concrete, are skyrocketing. According to the Korea Resource Information Service, the price of bituminous coal, a key raw material for cement, rose from $134.27 per ton at the end of December last year to $199.55 per ton at the end of last month. Additionally, as of March this year, the price of ordinary rebar was 1,115,000 KRW per ton, a 46% increase compared to 765,000 KRW per ton in March last year.

As a result, construction costs have also increased. Since March 1, the increased basic construction costs have been applied to supply. On the 24th of last month, the Ministry of Land, Infrastructure and Transport announced a 2.64% increase in the basic construction cost for multi-family housing compared to September last year, considering price fluctuations in construction materials and labor costs. Accordingly, the upper limit of construction costs per 3.3㎡ (based on 85㎡) rose for the first time from 6,879,000 KRW in September last year to 7,060,000 KRW.

This increase is directly reflected in the sale prices. For example, in Nam-gu, Ulsan, it is reported that the sale price of a newly announced apartment is expected to be set at around 25 million KRW per 3.3㎡, up from 23 million KRW. This is twice the average market price of 12.87 million KRW per 3.3㎡ in Nam-gu, Ulsan, as of the end of February.

An industry insider stated, “The construction cost increase effective from the 1st does not yet reflect the recent sharp rise in cement prices due to the Ukraine crisis, so there is significant room for further increases in sale prices.” He added, “For buyers looking to purchase a home, turning their attention to previously sold complexes offered at reasonable prices is a good way to reduce the price burden.”

Meanwhile, in Ulsan, 'Ulsan New City Aileen's Garden Phase 2,' currently being supplied in Deokha District, Ulju-gun, is attracting attention as a complex with reasonable prices and is currently accepting contracts on a first-come, first-served basis. This complex is adjacent to Nam-gu, Ulsan, where recent price increases have been directly observed, offering the locational advantage of enjoying all the infrastructure of Nam-gu.

Ulsan New City Aileen's Garden Phase 2 is an apartment complex located in Deokha District, Ulju-gun, Ulsan, consisting of 9 buildings ranging from 2 basement floors to 33 floors above ground, with exclusive areas of 84㎡ and 99㎡, totaling 967 households. Together with the successfully supplied Phase 1 last year, it forms the 'Aileen's Garden' brand town with a total of 1,770 households within Deokha District.

Ulsan New City Aileen's Garden Phase 2 features a resort-style complex with various landscaping and community facilities suitable for a large-scale complex, and offers fully furnished high-end home appliances and furniture free of charge to maximize residents' living convenience.

The complex plans to create a car-free zone on the ground level, with outdoor community facilities such as a kids' water park where children can play freely, a camping site for the whole family to enjoy healing time together, a pet garden for pet families, and an extreme sports facility for exercise.

Additionally, it has signed an MOU with CJ Freshway to provide breakfast and lunch services, and will offer various educational specialized services for school-age children. Educational services include a basketball class program operated through an MOU with Hope Sharing by Han Ki-beom, and English education and soccer education specialized programs through MOUs with Yanadoo and Ulsan Hyundai Football Club, respectively.

Furthermore, unique indoor community facilities reflecting recent trends will be introduced. Notably, a personal broadcasting studio for 'one-person creators,' whose popularity has increased with the rise of personal broadcasting, will be provided, along with special community spaces such as a mini cinema and a multipurpose gymnasium for extraordinary daily experiences.

Moreover, the complex offers all necessary home appliances and furniture free of charge for residents. European floor tiles (with an option for laminate flooring) will be installed, and premium sheet panels instead of regular wallpaper will be applied in the living room and corridors. Engineered stone kitchen walls and countertops, built-in stylers, built-in induction microwave ovens, and premium baths will also be provided free of charge. Additionally, when balconies are extended, system air conditioners will be installed in all rooms, along with LG Objet Collection appliances (refrigerator, kimchi refrigerator, freezer) and built-in dishwashers, all free of charge.

A sales representative said, “With the easing of comprehensive real estate tax, capital gains tax, and acquisition tax promised by President Yoon Suk-yeol, consumer expectations have increased, strengthening the movement toward home ownership, which has led to continued interest and inquiries.” He added, “As this is an opportunity to purchase a home at prices up to 200 million KRW cheaper than newly launched apartments in Nam-gu, contracts are being made rapidly.”

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