LH to Supply Semi-Residential and Neighborhood Living Facility Sites in Suwon Godeung District

Published 10 Nov.2020 08:03(KST)

Location map of Suwon High School District (Provided by LH)

[Asia Economy Reporter Chunhee Lee] Korea Land and Housing Corporation (LH) announced on the 10th that it will supply a total of 11 lots, including quasi-residential land and neighborhood living facility land within the Suwon Godeung Residential Environment Improvement Project District, through a general competitive bidding method.

The land to be supplied this time includes quasi-residential land blocks C-2, 4, 5, and 7, and neighborhood living facility land block B-1, which will be supplied to general actual demanders. Among these, blocks C-4, C-7, and B-1 are divided into 4, 3, and 2 lots respectively for supply.

The area per lot of quasi-residential land ranges from 1,029 to 14,846㎡, with the expected supply price at about KRW 17.16 million to 19.99 million per 3.3㎡. A building coverage ratio of 70%, a floor area ratio of 500%, and a height restriction of 152m under Flight Safety Zone 6 apply. The area per lot of neighborhood living facility land is 982㎡ and 998㎡, with expected prices of KRW 14.91 million and 14.75 million per 3.3㎡ respectively. A building coverage ratio of 60%, a floor area ratio of 250%, and the same Flight Safety Zone 6 height restriction apply.

The Suwon Godeung District is adjacent to Suwon Station, a transportation hub in the southern Gyeonggi area, allowing access to Seoul Metropolitan Subway Line 1, Suin-Bundang Line, and KTX. Additionally, the metropolitan wide-area express railroad (GTX) Line C is planned to pass through, enabling various rail transport options. Recently, accessibility within the metropolitan area has improved due to the extension of the Suin-Bundang Line, and convenient use of various bus routes is possible via the Suwon Station transfer center.

Within the district, a large apartment complex called 'Suwon Station Prugio Zai' (4,086 households) and 500 units of Happy Housing are scheduled to begin occupancy in January to February next year. Along with this, a solid demand base is secured based on the existing floating population of Suwon Station, which is also considered a major investment value factor.

The payment terms are a 2-year interest-bearing installment plan. Intermediate and final payments, excluding the 10% down payment, can be paid in four equal installments every six months. The installment interest rate is 2.3% per annum, and a discount (currently 2.5% per annum) is applied if payment is made earlier than the agreed date.

Bidding and bid opening will start on the 27th, and contract signing will take place from the 7th to the 11th of next month. For more details, please refer to the announcement posted on the LH subscription center or contact the LH Gyeonggi Regional Headquarters Suwon Godeung Project Team.