Gangneung Real Estate Market Booming... 'Jumunjin Samb Renaissance Ocean Foret' Official Contract Starts on 25th

by Choi Bongseok

Published 25 Apr.2022 08:47(KST)

Pre-Contract from 25th (Mon) to 27th (Wed) for 3 Days at Model House

As the real estate market in Gangneung-si, Gangwon-do experiences an unprecedented boom, the recently launched “Jumunjin Sambur Renaissance Ocean Foret” is also expected to sell out in a short period.

In fact, the real estate market in Gangneung-si has been very hot. According to the “National Housing Price Trends” released by the Korea Real Estate Board in March, the average apartment sale price in Gangneung-si in March this year rose by a staggering 33.0% compared to February last year. Considering that the national average apartment sale price increased by 24.9% during the same period, this is a remarkable performance.

[Perspective view of Jumunjin Sambur Renaissance Ocean Foret, Source: Sambutoken]

The sales market is also heating up. According to the Korea Real Estate Board’s subscription website, the “Jumunjin Sambur Renaissance Ocean Foret,” which received subscription applications on the 5th (Tuesday) and 6th (Wednesday), recorded 560 applicants for 207 units, showing an average competition rate of 2.7 to 1. This is the highest competition rate among apartments supplied in the Jumunjin-eup area of Gangneung-si since 2013. Additionally, it secured the most subscription savings accounts in the Jumunjin area.

Meanwhile, as the official contract period for “Jumunjin Sambur Renaissance Ocean Foret” approaches, it is once again drawing attention. Due to the intense subscription enthusiasm, contracts are also expected to be completed quickly.

It is also a matter of interest for those who unfortunately missed the chance to win. Depending on the contract rate, the possibility of winning for standby winners is anticipated. Considering the waiting demand for first-come, first-served sales, the contracts for this apartment are expected to close early.

This apartment complex offers not only a pleasant living environment but also abundant convenience facilities and excellent transportation conditions.

Right next to the complex, a neighborhood park (about 1,000 pyeong) has been created, allowing residents to enjoy a healing life right in front of their homes. Also, the location of this apartment is on high ground with almost no high-rise buildings, so from the middle floors and above, residents can enjoy views of the East Sea (except for some units). Moreover, the famous local attractions, Jumunjin Beach and Yeongjin Beach, with their emerald-colored sea and white sandy beaches, are easily accessible by car. The complex is surrounded by Odaesan Mountain on the west side.

Via National Road No. 7, which borders the complex, residents can travel to downtown Gangneung as well as Yangyang and Sokcho. Also, the Jumunjin Intercity Bus Terminal is nearby, allowing access to major surrounding cities via public transportation.

With the opening of KTX Gangneung Station (2018) and the Seoul-Yangyang Expressway (2017), accessibility to Seoul and the metropolitan area has greatly improved. Using the KTX from Seoul Station, it now takes just about an hour to reach Gangneung Station. The wide-area road network is also systematically established. It is easy to travel to major regions nationwide via the Yeongdong Expressway, Seoul-Yangyang Expressway, and Donghae Expressway.

Meanwhile, “Jumunjin Sambur Renaissance Ocean Foret” will be constructed with 3 buildings, from basement level 1 to ground level 20, totaling 234 units. The number of units by exclusive area is △73㎡ type 86 units, △77A㎡ type 70 units, △77B㎡ type 18 units, and △84㎡ type 60 units, totaling 234 units.

Gangneung-si is classified as a non-regulated local area, so resale is possible after contract, and loan qualification requirements are not strict. Also, Sambu Construction plans to offer a 60% interest-free benefit on interim payments to contract holders.