Large-Scale Apartment Supply Hits 13-Year Low... "Eumseongjai Central City" Emerges as a Major 1,505-Unit Complex

1,505-Unit "Eumseongjai Central City", a Landmark Large-Scale Complex

Acquisition Tax Exemption for Homes Under 85m² and 600 Million Won Until Year-End

Current view from the 20th floor of Eumseongjai Central City

This year, the number of large-scale apartment complexes with over 1,000 households being supplied nationwide is expected to hit its lowest level in 13 years. According to data from Real Estate R114, the nationwide supply of large-scale complexes scheduled for occupancy this year is 78,099 households, down by 28,034 households compared to last year’s 106,133. This is the lowest since 2013. Of the 17 major cities and provinces across the country, 10 are expected to see a decline in supply. Notably, in North Chungcheong Province, the number of units has plummeted from 8,965 last year to 1,191 this year, a decrease of 7,774 households, making it the second largest drop after Seoul.

Amid this situation, GS E&C's “Eumseongjai Central City” in Eumseong County has been attracting a steady stream of prospective buyers as a large-scale industrial complex apartment near major workplaces and as an already launched complex representing Eumseong County.

This complex consists of 16 buildings with 3 basement levels and 27 above-ground floors, totaling 1,505 units with exclusive areas ranging from 59 to 116 square meters. Currently, some unsold units are being offered through special sales. Since this is an already launched complex, the sales price is not affected by potential price increases, and it is considered to have a price advantage over newly launched complexes.

Additionally, as a branded large-scale complex and already launched apartment, immediate move-in is possible at any time, and buyers are less burdened by the need to raise additional funds due to rising prices. The expanding transportation network in Eumseong County, which enables easy access to anywhere in the country, is another strength.

In particular, until the end of this year, there is an added benefit: for homes with an exclusive area of 85 square meters or less and a price of under 600 million won, higher acquisition tax rates are excluded when calculating acquisition taxes.

According to real estate experts, GS E&C’s “Jai” brand, which leads residential culture in Korea, offers specialized designs and brand power that will be sufficient to establish it as a future landmark in the region.

“Eumseongjai Central City” is the first in Eumseong County to feature a sky lounge, and three guesthouse rooms have also been incorporated.

The complex is also equipped with a variety of community facilities, such as a fitness center, GX room, Pilates studio, golf practice range (GDR), natural lighting sauna, a small library filled with carefully selected books tailored to residents’ tastes and trends in partnership with Kyobo Book Centre, a reading room, multipurpose room, kids’ playground, and cafeteria.

The unobstructed view from the highest vantage point in Geumwang-eup, with a maximum height of 27 floors, is another highlight worth noting.

The aforementioned expansion of transportation infrastructure is another factor that enhances the value of the complex. With the Pyeongtaek-Jecheon Expressway connected to Eumseong IC and the metropolitan and wider transportation network created by the Jungbu Expressway, the future value of Eumseong County in North Chungcheong Province is being highly evaluated.

A real estate professional commented, “In regions with industrial complexes, stable job opportunities and continued inflow of end users are consistently observed. Complexes like Eumseongjai Central City, which are close to workplaces, will continue to maintain their competitiveness as landmark complexes in the future.”

He added, “Furthermore, as people move in search of jobs and infrastructure continues to improve, there are high expectations for Eumseong County potentially being elevated to city status.”

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