Rising Pre-sale Prices Accelerate Demand... 'Asan Zai Grand Park' First-Come, First-Served Sale

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As apartment sale prices rise sharply, homebuyers are quickening their steps to secure their own homes.

According to the "Private Apartment Sale Price Trends" released by the Housing and Urban Guarantee Corporation (HUG), as of November 2023, the nationwide private apartment sale price was confirmed at 17.1039 million KRW per 3.3㎡. This marks an 11.6% increase compared to the same month last year, representing nine consecutive months of price increases since March.

The industry expects the upward trend in sale prices, which began last year, to continue into next year. This is due to the acceleration of raw material price increases caused by overlapping external adversities, including the Russia-Ukraine war followed by the Israel-Palestine conflict.

Moreover, additional price increases are anticipated due to factors such as the expansion of mandatory certification for zero-energy buildings starting next year after a one-year grace period, and measures to resolve noise between floors.

A real estate expert stated, "Currently, all indicators point to further increases in sale prices next year," adding, "Especially with the mandatory implementation of zero-energy buildings, pure construction costs are expected to rise by about 30%, which will significantly impact sale prices."

Amid these circumstances, the perception among buyers that apartment subscriptions are a reasonable means to secure a home is gradually fading. Particularly, savvy buyers are seeking complexes that received early approval for recruitment announcements but are still in the contract process, looking for newly built apartments priced slightly lower.

Another real estate industry expert commented, "Once apartment sale prices rise, they tend not to go down easily," and added, "With price increases being updated almost weekly or monthly, prices in pre-sold complexes are considered quite reasonable, prompting demand to shift."

In this trend, "Asan Xi Grand Park," which is conducting first-come, first-served unit and building designation contracts in Yonghwa-dong, Asan-si, Chungnam, is seeing continuous visits from customers, many of whom are proceeding with actual contracts.

It is especially popular for offering special sale conditions such as a 5% down payment (for units over 84㎡ exclusive area) and full interest-free intermediate payments. Asan Xi Grand Park allows contracts with a 5% down payment and a first payment of 10 million KRW (for units over 84㎡ exclusive area). This thoughtful consideration by Asan Xi Grand Park helps reduce the initial financial burden for homebuyers during a period of steep inflation.

Securing price competitiveness with such special conditions, Asan Xi Grand Park is being developed through the private park special project of the planned Yonghwa Sports Park. Residents can conveniently enjoy various spaces within the approximately 160,000㎡ park, including a multipurpose lawn yard, multipurpose sports areas, children's sports playground, indoor gymnasium for promoting physical activities, as well as ecological experience zones and forest health rest areas for relaxation and cultural activities.

Asan Xi Grand Park is designed mainly with south-facing units for easy lighting and ventilation. Depending on the type, it features 4Bay cross-ventilation design, pantries, utility rooms, and dressing rooms to maximize space utilization. The Sysclean ventilation system and Style Up paid options (such as automatic entrance sliding doors and four-sided indirect lighting in the living room’s recessed ceiling) allow residents to customize their homes with more atmospheric finishes, lighting, bathrooms, and kitchen interiors according to their preferences.

Within each complex, the community center "Club Xi-An" includes a fitness club, golf practice range, and shared office spaces. On the top floor, "Club Cloud" offers a sky lounge and cafeteria. Notably, YBM English Library will be located in Complex 1, and Kyobo Bookstore Curation Library in Complex 2. Residents will be provided with free (planned) access to YBM’s English reading programs and Kyobo Bookstore’s curation services for two years.

Asan Xi Grand Park is being built in Yonghwa-dong, Asan-si, Chungnam, with a total of two complexes comprising 1,588 households. The complexes are ▲ Complex 1 with 739 units ranging from 74 to 149㎡ exclusive area, and ▲ Complex 2 with 849 units ranging from 84 to 149㎡ exclusive area.

The first-come, first-served sale of Asan Xi Grand Park is currently underway at the model house.

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