High Sale Prices Soar... 'Gongju Wolsong District Gyeongnam Honorsville' Complex Under Sale Restriction Program

As the trend of rising sale prices continues, controversies over high sale prices at recently launched complexes persist, and while the market perception that "now is the cheapest" has taken hold, sale prices are expected to continue their steep upward trajectory in 2024.

According to the "Private Apartment Sale Price Trends" released by the Housing and Urban Guarantee Corporation (HUG) last November, the average sale price per 3.3㎡ of private apartments nationwide was 17,103,900 KRW, marking nine consecutive months of increase. This represents an 11.6% rise compared to the same period last year.

Additionally, with industrial electricity rates rising and construction raw material costs such as cement and rebar creeping up, the construction industry predicts that raw material prices will increase by approximately 10-20% in tandem with electricity cost hikes.

Accordingly, construction companies are facing deep concerns. Since construction costs have surged to more than half of the sale price, they cannot fully reflect the increased construction costs in the sale prices. If the entire increase in construction costs were passed on to sale prices, it would raise concerns about unsold units due to high prices, so companies have devised strategic measures to minimize risks.

For example, in Dongdaemun-gu, the 'e-Pyeonhansesang Dapsimni Artefore' complex has a highest sale price of 1,168 million KRW for an 84㎡ unit. According to the resident recruitment announcement, the construction cost for that area is 652.91 million KRW, accounting for 55.9% of the sale price.

Moreover, in complexes subject to the sale price ceiling system, the proportion of construction costs is even higher. In Hwaseong Dongtan 2 New Town, the 'Dongtan Lake Park Jayeon & e-Pyeonhansesang (National)' complex has a highest sale price of 481.2 million KRW for an 84㎡ unit, with construction costs amounting to 327.03 million KRW, making up a substantial 68% of the price.

As the phrase "today is the cheapest," often perceived as a real estate promotional slogan, becomes reality, buyers eager to purchase newly built apartments are focusing their attention on complexes under the sale price ceiling system, where they can find reasonable prices.

Amid this, SM Shipping Co., Ltd.'s construction division is attracting attention with the 'Gongju Wolsong District Gyeongnam Honorsville' in Wolsong-dong, Gongju-si, Chungnam, which is supplied under the sale price ceiling system.

'Gongju Wolsong District Gyeongnam Honorsville' is developed within a residential land district and supplied at a reasonable price under the sale price ceiling system. Since there has been no new apartment supply in Gongju-si since the 'Hwaseong Park Dream Gongju Wolsong' two years ago, it is receiving positive responses from nearby residents who have been seeking new housing.

The complex shares the Sejong living zone and offers future value, while also equipped with various excellent infrastructures emphasized in the housing market.

The old town of Gongju, Shingwan-dong, suffers from severe housing aging, and with its geographical advantage adjacent to Sejong, and the development plan for Wolsong 2 District being established, the residential center axis of Gongju is expected to shift to Wolsong District. Wolsong District is located centrally, connecting the old town with Songseon, Donghyeon industrial complexes, and Sejong City.

Furthermore, with improved transportation conditions, residents will be able to enjoy the Sejong living zone all at once. The Gongju-Sejong Metropolitan BRT is scheduled to open in 2025, with a station planned within walking distance in the Wolsong District where the complex is located.

This will make Sejong City, which was previously inconvenient to access by public transportation and required vehicle travel, easily reachable by public transit, allowing residents to share Sejong's central living infrastructure more closely.

The Seoul (Pocheon)?Sejong Expressway, accessible conveniently via Seosejong IC, is also scheduled to open by the end of 2025. This expressway, known as the second Gyeongbu Expressway, will greatly improve access to the metropolitan area.

The educational environment is also well established. Residents' children will be assigned to Sinwol Elementary School right in front of the complex, ensuring safe walking distance for commuting, and the nearby Miracle Library offers a pleasant educational environment.

Living infrastructure is abundant, enhancing residents' convenience. Gongju Kyunghee Oriental Medicine Hospital, the community center, Daejeon District Court, and Gongju General Bus Terminal are nearby, and Sejong City is reachable within 10 minutes, making large marts such as Sejong Costco, E-Mart, and Homeplus easily accessible.

'Gongju Wolsong District Gyeongnam Honorsville' consists of a total of 366 households, all in a single medium-sized type of 84㎡, known as the so-called 'national standard size,' which is highly preferred by buyers. All units face south, allowing for views and abundant sunlight, with a low building coverage ratio in the 15% range enhancing comfort within the complex, and a high exclusive use ratio boasting spacious usable areas.

The model house for Gongju Wolsong District Gyeongnam Honorsville is located in the Gongju-si area of Chungnam, and the official subscription schedule will begin in earnest starting with special supply on the 5th.

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