Pre-sale Rights Transactions Up 70% Year-on-Year... Increasing Demand for Eumseong Pre-sale Rights

- Pre-sale rights transactions increased 1.7 times YoY until August this year
- Pre-sale prices keep rising daily... fueling enthusiasm for pre-sale rights investment

This year, the number of apartment pre-sale right transactions nationwide has surged. It is analyzed that the demand is increasing as the competition rate for subscription rises and pre-sale prices soar, leading more buyers to turn their attention to pre-sale rights.

According to the Korea Real Estate Board, from the beginning of this year until August, there were a total of 36,003 pre-sale right transactions nationwide. This is about 1.7 times higher than the 21,276 transactions during the same period last year. In the second half of 2022, nationwide pre-sale right resales were only 15,614. The total transactions for last year (31,323) have already been far exceeded.

The actual rise in pre-sale prices is relentless. According to the Housing and Urban Guarantee Corporation, as of September this year, the average pre-sale price for private apartments nationwide was 16,575,900 KRW per 3.3㎡. This represents a 0.27% increase compared to the previous month and an 11.51% increase compared to the same month last year. This marks seven consecutive months of price increases since March.

A real estate official stated, "Pre-sale rights are a means to secure a new apartment at a relatively affordable price without subscription competition, and since they can be resold before moving in depending on circumstances, the investment burden is less than that of existing apartments. As the subscription market revives and pre-sale prices rise further, interest is expected to grow."

The contract rates for apartments currently on sale are also increasing. A representative example is the ‘Eumseong Umirin Full House’ currently being sold in the Seongbon Industrial Complex in Eumseong, where visitors to the model house have recently increased, and unsold units in desirable buildings and unit numbers are rapidly being depleted.

Eumseong Umirin Full House is a large complex of 1,019 households located in Block B4 of the Seongbon Industrial Complex in Eumseong-gun. Including Eumseong Umirin Full House, about 5,000 households will be developed, forming a mini new town scale. The pre-sale price is reasonably set at a minimum of 8 million KRW per 3.3㎡ under the price ceiling system, with a fixed first deposit of 10 million KRW and a 60% interest-free benefit on the intermediate payment. It is also notable that resale before moving in is allowed. It offers various amenities such as the first indoor swimming pool within a complex in Eumseong, and various free items are provided upon balcony expansion (varying by type).

This complex mainly faces south and features a slab-type 4-bay design, providing excellent lighting and ventilation. For the first time in Eumseong, an indoor swimming pool with a toddler pool and shower facilities will be installed, along with community facilities such as a fitness club, indoor golf practice range, reading room, and a small library.

A sales official said, "Due to increased corporate investment, the influx of population is rising, and real estate transactions are increasing with the interest of quick investors. Many unsold units in apartments currently on sale have been depleted. The pre-sale prices are soaring to the extent that the saying ‘today is the cheapest’ is no longer valid, so buying demand is rising for complexes with reasonable prices, such as those subject to the price ceiling system."

Meanwhile, the model house for Eumseong Umirin Full House is currently operating.

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