Real Estate Market Anticipates Rebound Following Interest Rate Cuts, 'Gonjiam Station Central I-Park' Draws Attention

원본보기 아이콘

With the base interest rate cut, the era of deposit interest rates in the 1% range is approaching, raising expectations for a real estate market upswing after the upcoming presidential election. Along with this, preferences for steady sellers in the real estate market such as areas near subway stations, land lots, and newly built complexes are expected to increase further.

According to the Bankers Association on the 15th, the basic interest rates for 12-month fixed deposits at the five major banks?KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup?were 2.15% to 2.75% per annum as of the previous day, down about 0.3 to 0.6 percentage points from the average rates of 2.78% to 3.00% handled last month. This is due to banks consecutively lowering interest rates on major deposit products.

Loan interest rate reductions are also anticipated as a result. Although the current decline in loan interest rates is slow, the market expects that if policies regarding the real estate market change after the early presidential election, loan interest rates will also decrease in line with the lowered base interest rate.

An industry expert said, "Although the real estate market downturn has been prolonged, expectations for market recovery have increased following the Bank of Korea’s base rate cut in February. As the unsettled political situation settles, changes in real estate market policies are expected, so it is worth paying attention to keywords such as areas near subway stations, new constructions, land lots, and urban development zones, which are considered steady sellers in the real estate market."

Meanwhile, HDC Hyundai Development Company’s 'Gonjiam Station Central I-Park,' supplied near Gonjiam Station, is attracting attention from buyers as a super-station area brand apartment.

'Gonjiam Station Central I-Park,' supplied by HDC Hyundai Development Company in Block A1-2 of the Gonjiam Station urban development zone in Gwangju-si, Gyeonggi-do, consists of four buildings ranging from two basement floors to 22 floors above ground, with a total of 347 units sized between 84 and 110 square meters.

'Gonjiam Station Central I-Park' boasts the best location within the newly developed residential town of over 3,600 households, including the Gonjiam Station urban development district and the Shindae district near Gonjiam Station, predicting high future value.

'Gonjiam Station Central I-Park' is a super-station area complex adjacent to Gonjiam Station on the Gyeonggang Line. In particular, it is the closest complex to Gonjiam Station within the Gonjiam Station urban development district centered around Gonjiam Station, boasting excellent public transportation networks.

From Gonjiam Station, which is adjacent to 'Gonjiam Station Central I-Park,' it takes about 20 minutes to reach Pangyo Station via the Gyeonggang Line, and about 30 minutes to reach Gangnam.

Especially, with the Ministry of Land, Infrastructure and Transport planning the GTX-D line through its 'Three Major Innovation Strategies in Transportation' announced last January, and the double-track railway from Suseo to Gwangju scheduled to begin construction in June, the accessibility to Gangnam from 'Gonjiam Station I-Park' is expected to improve further.

A sales official of 'Gonjiam Station Central I-Park' said, "Since it is located at the forefront within the Gonjiam Station urban development district where over 3,600 new households are being supplied, it is expected to establish itself as a representative residential facility in the area. Not only the existing Gyeonggang Line but also the opening of GTX is expected to further enhance accessibility to Seoul, allowing residents to enjoy high future value."

'Gonjiam Station Central I-Park' currently offers a relaxed contract condition with a 5% down payment and a fixed price of 5 million KRW for the first contract phase, easing the initial burden for buyers. The model house is located in Songjeong-dong, Gwangju-si, Gyeonggi-do.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.