‘Wonju Prugio The Central’ First-Come, First-Served Contract

[Wonju Prugio The Central_Perspective View]

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Complexes that reduce the financial burden on buyers by offering various financial benefits are gaining attention in the sales market. As the sale prices continue to rise and high interest rates in the 3% range have been maintained for about two years, the financial burden on buyers who want to own a home is increasing, making complexes that provide financial benefits relatively more attractive.

In fact, as of July this year, the nationwide apartment sale price per pyeong (3.3㎡) exceeded 25 million KRW. According to data from Real Estate R114, as of July 8, the nationwide apartment sale price per pyeong was 25.5 million KRW. This is a 32.88% increase compared to the same month last year (19.19 million KRW).

Looking at the trend of the average nationwide apartment sale price this year, it fluctuated between the 16 million KRW and 20 million KRW range: △January 19.87 million KRW △February 18.79 million KRW △March 19.45 million KRW △April 20.09 million KRW △May 16.81 million KRW △June 17.88 million KRW. Then in July, it surpassed the 20 million KRW mark.

The industry analyzes the cause of this situation as the Bank of Korea’s base interest rate freeze and the rise in construction material costs. In fact, the Bank of Korea’s base interest rate rose from 1.00% in 2021 to 2.25% in 2022 and increased to 3.50% in 2023, where it has remained. Also, according to the Ministry of Land, Infrastructure and Transport’s announcement in February this year, the basic construction cost under the price ceiling system for sale prices was raised by 3.1% compared to last September, reflecting increases in construction material and labor costs.

As the rise in raw material prices and labor costs continues, making apartment sale price increases inevitable, buyers preparing to purchase a home are focusing on complexes that offer financial benefits to ease their financial burden.

Meanwhile, Daewoo E&C is currently conducting first-come, first-served contracts for ‘Wonju Prugio The Central’ in the Wondong area of Wonju-si, Gangwon-do. The complex consists of two buildings, ranging from 4 basement floors to 29 above-ground floors, with a total of 1,502 households, of which 1,273 households with exclusive areas of 59 to 108㎡ are supplied for general sale. The first-come, first-served contracts do not require a subscription savings account, and buyers can directly select their desired building and unit number, offering a wide range of choices.

The complex offers a 5% down payment and a fixed amount of 5 million KRW for the first installment, significantly reducing the initial financial burden for buyers. Unlike the general practice of paying 10-20% of the sale price as a down payment for a formal contract, the ability to contract with a relatively small amount is the biggest advantage of this complex.

Moreover, the complex’s reasonable sale price is notable. The sale price for an 84㎡ exclusive area is set between 438 million KRW and 491 million KRW, making it an apartment priced under 500 million KRW, which is hard to find these days. Additionally, since it is located in a non-regulated area, there are no restrictions on re-winning, resale, or mandatory residence.

Meanwhile, the model house is located in the Gaeun-dong area of Wonju-si, Gangwon-do, and the move-in date is scheduled for November 2027.

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