In the Era of High Pre-sale Prices, Interest in Long-term Lease Apartments with Sale Conversion, 'Dongdaegu Taewang Honors The Palace'

- 'Sale-Conversion Long-Term Lease' Emerges as a Rational Homeownership Strategy
- 'Dongdaegu Taewang Honors The Palace' Offers Sale Conversion at a 15% Discount Off Appraised Value After 10 Years of Residency

Dongdaegu Taewang Honors The Palace

On March 17, the Housing and Urban Guarantee Corporation (HUG) announced the 'Private Apartment Sale Price Trends.' According to the data released that day, as of the end of January 2025, the average sale price per unit area (㎡) of newly supplied private apartments in Daegu was 6,705,000 KRW (22,126,500 KRW per 3.3㎡), marking the highest price among the five major metropolitan cities. The main factors driving the increase in apartment sale prices were analyzed to be the continuous rise in labor costs and construction material prices. The industry expects this upward trend to continue for the time being.

Amid the ongoing high sale prices of new apartments, 'sale-conversion long-term lease' apartments are gaining attention as a new strategy for homeownership. 'Sale-conversion long-term lease' apartments allow residents to live stably for 10 years by paying only the rental deposit and then purchase the apartment after 10 years.

The 'Dongdaegu Taewang Honors The Palace,' a sale-conversion long-term lease apartment opening its housing promotion center on April 11, offers a remarkable benefit: residents can live for 10 years by paying only the rental deposit and, after the lease period ends, purchase the apartment at 85% of the appraised value, effectively a 15% discount. Considering that the appraised value is generally assessed somewhat lower than the actual sale price, this results in an approximate 25% discount compared to the sale price. Additionally, by paying only the first contract deposit of 5 million KRW, residents can receive interest-free loans for the second and third contract deposits and interim payments, along with a free balcony expansion benefit.

Located in the Hyomok-dong area of Dong-gu, Daegu Metropolitan City, 'Dongdaegu Taewang Honors The Palace' consists of five buildings ranging from three basement floors to a maximum of 20 floors above ground, with a total of 464 households across six types of 84㎡ exclusive area units.

'Dongdaegu Taewang Honors The Palace' is situated in the Dongdaegu Station living area, which is gaining attention as a new emerging residential town in Daegu through urban environment improvement projects and station area development projects. It offers access to various living infrastructures such as transportation, daily life, and education. The Dongdaegu Station complex transfer center, within walking distance, provides access to Daegu Subway Lines 1 and 4 (planned), KTX, SRT, and Dongdaegu Terminal. Through KTX and SRT, residents can travel not only to the Seoul metropolitan area but also to major nearby cities such as Busan, Changwon, Jinju, Daejeon, and Cheonan. The Daegu Urban Railway facilitates convenient travel to major downtown areas including Jung-gu, Suseong-gu, Dong-gu, Buk-gu, and Dalseo-gu.

Administrative institutions such as the Daegu District Court, Daegu District Prosecutors' Office, and Administrative Welfare Center are located close to the complex. Nearby are also Shinsegae Department Store and Hyundai City Outlet, which house movie theaters, aquariums, bookstores, and more, allowing for convenient urban living.

Hyo-shin Elementary School is within walking distance for children living near the complex, and schools such as Dongbu Middle School and Dongwon Middle School are also nearby. The complex falls within the school zones of prestigious schools in Daegu’s Suseong-gu, including Kyungshin High School, Cheonggu High School, Daegu Girls' High School, and Jeonghwa Girls' High School, and is close to the Suseong-gu academy district, making it an optimal location for children's education.

The sale-conversion long-term lease apartment 'Dongdaegu Taewang Honors The Palace' can be applied for regardless of whether applicants have a subscription savings account or the number of houses they own, and corporations are also eligible. There are no tax burdens such as acquisition tax, comprehensive real estate tax, property tax, capital gains tax, or multi-homeowner heavy taxation for 10 years. Unlimited resale is allowed, and subleasing is freely permitted.

Furthermore, the rental deposit is securely guaranteed by the Housing and Urban Guarantee Corporation (HUG).

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