Changing Housing Trends, a Sure Choice... 'Haengjeong Town Doosan We’ve The Class'

- Apartment sales transaction volume hits all-time low, while jeon-wolse lease transactions reach record high
- Private rental housing allows stable residence for up to 10 years... Increasing preference among demanders

While the volume of apartment sales transactions has decreased, the volume of jeonse and monthly rent transactions has reached an all-time high, with private rental apartments emerging as a new housing trend.

According to data from the Korea Real Estate Board, the total number of apartment sales transactions nationwide in the first half of this year (January to May) was 155,987, which is about a 50.5% decrease compared to 315,153 transactions in the same period last year (January to May 2021). This is the lowest figure since the data collection began in 2006 for the same period (January to May).

On the other hand, the volume of jeonse and monthly rent transactions recorded an all-time high. According to data from the Court Registry Information Plaza, the total number of lease contracts (jeonse and monthly rent transactions) with confirmed dates nationwide in the first half of this year (January to June) was 1,476,178, the highest since related statistics began in 2014. Compared to 1,088,992 contracts in the same period last year (January to June 2021), this represents an increase of about 35.55%.

The industry analyzes that buyers, burdened by various taxes such as property holding tax, are turning their attention to private rental apartments, which have relatively lower price burdens and offer stable living conditions.

Amid this trend, demand continues for ‘Haengjeong Town Doosan We’ve The Class,’ scheduled for supply in August. ‘Haengjeong Town Doosan We’ve The Class,’ developed by Doosan Construction in Cheongdang-dong, Cheonan-si, Chungcheongnam-do, will be supplied as a long-term general private rental housing. The complex consists of 10 buildings, ranging from 2 basement floors to 29 above-ground floors, with a total of 1,202 units of 84㎡ exclusive area.

This complex sets the initial deposit at a reasonable price compared to surrounding market prices, and the annual increase rate of the rental deposit, renewed every two years, is capped at 5%, significantly reducing the burden of housing costs. Additionally, the rental deposit refund is secured by the Housing and Urban Guarantee Corporation (HUG), and even if residents own a house, it is not counted as part of their housing stock, allowing them to live for 10 years without various tax burdens such as property tax, acquisition tax, and comprehensive real estate tax, and freely transfer lease rights (with approval from the project operator).

The location is also excellent. Cheonan Station on Subway Line 1 and the Gyeongbu Line is about a 10-minute drive away, and Cheonan-Asan Station for KTX and SRT is about 15 minutes away, making commuting to Seoul and the metropolitan area convenient.

Within a 1km radius is the Cheongsu District Administrative Town, making it a workplace-proximate complex. Various public institutions such as Cheonan Dongnam Police Station, Cheonan Tax Office, Cheonan Post Office, Daejeon District Court Cheonan Branch, Daejeon District Prosecutors’ Office Cheonan Branch, National Pension Service, National Health Insurance Service, and Korea Land and Geospatial Informatix Corporation Cheonan Branch are nearby.

All units are composed of a single preferred exclusive area of 84㎡, and a 4Bay slab-type layout (except for some units) is applied, which is advantageous for ventilation and airflow. All housing types feature a master bedroom dressing room and powder room, with specialized spaces such as an alpha room in 84㎡ A and C types, and a pantry in 84㎡ B type, providing ample storage space.

Haengjeong Town Doosan We’ve The Class is currently operating a model house.

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