"Yeokgok District Howstory" Offers "Affordable Pre-Sale Prices," Model Home Opens on the 10th

With persistently high inflation and soaring apartment pre-sale prices in the Seoul metropolitan area, first-time homebuyers are facing increasing challenges in purchasing their own homes. Against this backdrop, the “Yeokgok District Howstory” Newlywed Hope Town in Bucheon Yeokgok District, which is subject to government price caps, is launching full-scale sales, highlighting its overwhelming price competitiveness and exceptional financial benefits.

According to data from the Housing and Urban Guarantee Corporation (HUG), as of May 2026, the average pre-sale price of private apartments in the Seoul metropolitan area was 36.56 million won per 3.3 square meters. This figure is approximately 2.6 times higher than in May 2016, when it was 14.17 million won. Over the same period, the average pre-sale price of private apartments in Seoul increased 3.1 times (from 20.67 million won to 63.43 million won), Incheon doubled (from 10.49 million won to 21.09 million won), and Gyeonggi-do rose about 2.2 times to 25.17 million won compared to 10 years ago.

As material costs, labor expenses, and financing costs have all risen, pre-sale prices for private developments continue to surge, making the value of government price-capped projects stand out even more. In these projects, prices are determined based on land and construction costs, resulting in much greater price control compared to surrounding market rates or general private developments.

“Yeokgok District Howstory,” the first private-participation public housing project built by Namkwang Construction, is considered the most reliable alternative in the current market. The project, located in Block A-2BL of Bucheon Yeokgok District in Bucheon, Gyeonggi-do, will consist of 1 basement floor, three deck levels, and up to 25 above-ground floors, comprising a total of 1,464 units. Of these, 976 units will be public pre-sale units (Newlywed Hope Town allocation). All units feature a single floor plan of 55 square meters (with six types). The project plans to open its model home on the 10th and begin the official sales process.

The most notable advantage is its reasonable pricing. The pre-sale price for “Yeokgok District Howstory” is set at the high 400 million won to low 500 million won range for the 55 square meter units. This is significantly lower than the current pre-sale prices for private apartments in the metropolitan area, offering outstanding price competitiveness despite excellent access to Seoul.

On top of this, exclusive financial benefits for Newlywed Hope Town further reduce the financial burden. Through the exclusive profit-sharing mortgage for Newlywed Hope Town, buyers can receive up to 70% loan-to-value (LTV) financing, with a maximum loan limit of 400 million won. Unlike standard market loans, the DSR (Debt Service Ratio) regulation does not apply. Notably, the recruitment notice for residents will be issued before any policy loan interest rate hikes by the government, so the ultra-low fixed interest rate of 1.3% per annum will apply as is, allowing buyers to significantly reduce interest burdens with no risk of rate changes for up to 30 years (maximum maturity).

The project will be offered to metropolitan area residents aged 19 or older who are members of households without home ownership (including newlyweds, engaged couples, and single-parent families) as of the recruitment announcement date. The main application period for new applicants will be held over two days, July 22 (Wednesday) and July 23 (Thursday), with winners announced on August 4 (Tuesday). Official contract signing is scheduled for November 12 (Thursday) to November 15 (Sunday).

Outstanding location and product features are also key strengths. The complex is situated to provide access to both Yeokgok Station on Line 1 and Kkachiwool Station on Line 7, making commutes to major business districts in Seoul such as Gasan Digital Complex, Yeouido, and Gangnam convenient. Inside, all units will feature the highly preferred 4-bay flat layout, generous dress rooms and pantries for each type, and ample storage. On-site amenities will include a daycare center, indoor playground, a sky lounge on the top floor, and a multi-purpose indoor gym, among other premium community facilities.

Price-capped projects supplied in urban-adjacent areas with established transportation networks and living infrastructure, like Yeokgok District, are expected to provide a stable option in today’s uncertain real estate market, simultaneously offering housing security and the potential for asset value appreciation.

A sales representative commented, “Yeokgok District Howstory combines government price caps with exclusive low-interest loans for Newlywed Hope Town, reducing the initial financial burden for genuine buyers. With its proximity to Seoul, reasonable pricing, and the product strength of a private-participation public housing project, it continues to attract strong interest from newlyweds and young generations.”

Meanwhile, the model home for “Yeokgok District Howstory” is located in Sang-dong, Wonmi-gu, Bucheon, Gyeonggi-do.

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