Imminent Supply of 'Yeongtong Station Ja-i Praciel' Draws Attention

- HUG October Announcement Soars 11.6% Compared to Same Period Last Year
- Electricity Rates Expected to Rise Further Due to Zero Energy Buildings

Apartment sale prices are on the rise every month and are expected to continue increasing due to factors such as zero-energy certification, leading to a growing number of buyers aiming to quickly secure prime units within the year.

According to the ‘October Private Apartment Sale Price Trends’ released by the Housing and Urban Guarantee Corporation (HUG), as of last month, the average nationwide private apartment sale price per 3.3㎡ increased by 1.41% compared to September. Compared to a year ago, it rose by 11.66%. After a slight decline in February (-0.01%), prices have been on an upward trend for eight consecutive months.

The reason why further price increases are almost certain is that industrial electricity rates have surged, causing cement and rebar prices to stir again. The industry predicts that cement and rebar costs will rise by about 10-20% due to the increase in electricity charges. Additionally, rising financial costs from interest rate burdens are pushing sale prices higher.

The expansion plan for mandatory zero-energy building certification is also a variable. According to this, from next year, zero-energy construction will be mandatory for private apartments with 30 or more units applying for new project approval. The industry expects construction costs to increase by approximately 30%.

An industry insider stated, “Most of the apartment construction costs are made up of raw material prices, and when raw material prices rise sharply, construction costs inevitably follow, causing sale prices to rise accordingly,” adding, “In conclusion, sale prices are structurally bound to increase next year.”

In this context, the GS Construction project ‘Yeongtong Station Xi Praciel,’ scheduled for sale within the year, is attracting attention. It consists of a total of 472 units with exclusive areas of 84㎡ and 100㎡.

Located in the Yeongtong and Mangpo living zones, ‘Yeongtong Station Xi Praciel’ is within walking distance of Yeongtong Station on the Suin-Bundang Line, and the GTX-A Yongin Station, scheduled to open in 2024, will also be conveniently accessible. Additionally, the Dongtan-Indeokwon Line is planned, which will further improve transportation conditions. It is also within walking distance of Suwon Yeongtong central commercial district and close to Homeplus, Lotte Mart, E-Mart Traders, and Suwon Premium Outlets.

The educational environment is well established. Seocheon Elementary School is close to the complex, and Seonong Elementary, Seocheon Middle, and Kyung Hee University are within walking distance. Nearby is the Yeongtong-Mangpo academy district, a representative study area in Suwon.

A local real estate agent said, “Since the apartment is close to Samsung Electronics Suwon headquarters, there is strong demand from Samsung employees and other local residents who have long awaited this sale, resulting in many inquiries about the sale price,” adding, “The recent sharp rise in sale prices and the widespread perception that prices will continue to rise are fueling the sales enthusiasm.”

As it is a non-regulated area, the subscription threshold is low. For first-priority applicants, those aged 19 or older residing in the metropolitan area can apply even if they own a home. For units 85㎡ or smaller, 60% of winners are selected by lottery, and for units larger than 85㎡, 100% are selected by lottery, increasing the chances of winning for young buyers with low scores as well as homeowners looking to upgrade. Additionally, resale is allowed six months after selection, enhancing liquidity.

Meanwhile, the Yeongtong Station Xi Praciel model house is located near Dongcheon Station in Dongcheon-dong, Suji-gu, Yongin City.

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