Special Subscription Applications Open for 3 Days at 'The Sharp Tangjeong Infinity City'

As apartment sale prices continue to rise, the perception that "today is the cheapest day" to buy a home is spreading.

According to the Housing and Urban Guarantee Corporation's "Private Apartment Sale Market Trends" report, as of the end of October, the nationwide apartment sale price per 3.3㎡ was 16.81 million KRW, an increase of 2.64 million KRW compared to the sale price in January last year (14.17 million KRW). For an exclusive area of 84㎡ (formerly 34 pyeong), this translates to an increase of about 90 million KRW (89.76 million KRW).

By region, the five metropolitan cities and Sejong City saw the largest increase of 2.83 million KRW per 3.3㎡, followed by other provincial cities at 2.67 million KRW, and the Seoul metropolitan area at 2.21 million KRW, highlighting the notable rise in sale prices in provincial areas.

Sale prices continue to rise due to increases in raw materials and labor costs. According to the Korea Cement Association, the average price of cement from seven companies, which was 78,800 KRW per ton in 2021, surged by 42.1% to 112,000 KRW this year over three years. Ready-mix concrete prices also increased by 23%, from 66,385 KRW per cubic meter in 2020 to 81,664 KRW in 2022, and rebar prices rose by 8,000 KRW per ton starting December.

Labor costs are also continuously increasing. According to the "2023 First Half Construction Industry Wage Survey" released by the Korea Construction Association, construction wages in the second half rose by 3.95% to 265,516 KRW compared to the first half, and increased by 6.71% compared to the same period last year.

Amid the continuous rise in sale prices, competition in the new apartment sale market is fierce. Recently, the "Cheonggye Riverview Xi" in Yongdap-dong, Seongdong-gu, Seoul, recorded an average competition rate of 45.98 to 1 with 18,255 first-priority applications. Despite controversy over its high sale price of 39.95 million KRW per 3.3㎡, the apartment was fully subscribed in one go.

An industry insider said, "With sale prices rising by tens of millions of KRW in just a few months, consumers are trying to secure apartments in their desired areas and quantities before prices increase further," adding, "It is necessary to carefully review new complexes with upcoming or ongoing subscriptions."

Meanwhile, "The Sharp Tangjeong Infinity City," located near Tangjeong Station, opened its model house on the 22nd and officially began its sale schedule.

The Sharp Tangjeong Infinity City is a large complex located in the Asan Tangjeong District urban development area, consisting of 8 buildings ranging from 2 basement floors to a maximum of 35 floors above ground, with exclusive areas of 84 to 96㎡, totaling 1,140 households.

Notably, The Sharp Tangjeong Infinity City is a station-area apartment located about a 10-minute walk from Tangjeong Station on Subway Line 1, providing convenient access to Cheonan Asan Station. It also offers easy access to Asan's old downtown, Cheonan Asan Station area, and Buldang District via Isunsin-daero and Gokgyocheon-ro.

Additionally, it is convenient to use various amenities located around Tangjeong Station and Cheonan Asan Station, such as Moda Outlet, E-Mart, CGV, Galleria Department Store, and E-Mart Traders. The complex also benefits from proximity to green spaces, including the Gokgyocheon River to the south, a planned neighborhood park within the urban development area, and nearby Yonggok Park and Jisan Park.

The sale schedule begins with special supply on January 3rd, followed by first-priority subscription on the 4th and second-priority subscription on the 5th via the Korea Real Estate Board's "Apply Home" website. Winners will be announced on the 11th, and official contracts will be conducted over three days from the 22nd to the 24th.

Eligibility for first-priority subscription for "The Sharp Tangjeong Infinity City" requires a subscription account membership of at least six months and residency in Asan City (local) or Chungcheongnam-do, Sejong Special Self-Governing City, or Daejeon Metropolitan City (other). Applicants must be at least 19 years old, and there are no restrictions based on income level, homeownership, household head or member status, or re-subscription status. Since all units are medium to large-sized, except for 40% of the 84㎡ type, all other units are supplied by lottery, and there is no resale restriction, allowing resale.

"The Sharp Tangjeong Infinity City" is currently operating its model house.

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