Non-Metropolitan Areas Granted Phase 3 Stress DSR Deferment... "Changwon Megacity Xi & Weave" Now Open for First-Come, First-Served Sales

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Starting in July, the full implementation of the Phase 3 Stress Debt Service Ratio (DSR) will significantly reduce the limit on home mortgage loans, particularly in the Seoul metropolitan area. However, in non-metropolitan regions, the regulation will be deferred until the end of this year in consideration of the sluggish real estate market, allowing for a relatively more relaxed lending environment. As a result, there is a high possibility that "last-minute demand" from genuine homebuyers will surge in these regions.

On May 20, the Financial Services Commission held a household debt review meeting and announced the implementation plan for the Phase 3 Stress DSR. Under this plan, a uniform stress interest rate of 1.50% will be applied to all household loans, including mortgage loans and credit loans exceeding 100 million won at both banks and secondary financial institutions, as well as other types of loans.

However, for regions outside the Seoul metropolitan area, the stress interest rate will remain at the Phase 2 level of 0.75% until December 31. At the end of the year, the government plans to comprehensively review the economic conditions and household debt trends in these regions before readjusting the level of the stress interest rate.

Due to this deferment, the local real estate market is effectively becoming a last opportunity for genuine homebuyers. With sale prices rising every year and further tightening of loan regulations expected in the future, it will become even more difficult to purchase a home.

According to Real Estate R114, sale prices in non-metropolitan regions have steadily increased over the past three years: 13.63 million won in 2022, 15.76 million won in 2023, and 18.06 million won in 2024. In addition, the "Zero Energy Building Certification System" for private apartments is being implemented from this month, which will add to construction costs and inevitably drive up sale prices in the future.

An industry insider commented, "Since the stress DSR regulation is being deferred in non-metropolitan regions, those planning to buy a home should act before the end of the year," adding, "If rising sale prices and tighter loan regulations coincide, the threshold for homeownership will inevitably become higher."

As a result, demand is expected to concentrate on newly launched apartment complexes in non-metropolitan areas. Among them, "Changwon Megacity Xi & Weave," being developed by a Doosan Construction consortium in Jinhae-gu, Changwon-si, Gyeongnam, is currently accepting first-come, first-served contracts for specific buildings and units, attracting attention from genuine homebuyers.

The complex has been priced reasonably compared to surrounding properties. For example, the sale price based on the management and disposal plan for the nearby Gyeonghwa Housing Redevelopment Project is about 13.8 million won per 3.3 square meters, and actual sale prices are expected to exceed this level. In contrast, Changwon Megacity Xi & Weave is being offered at a relatively reasonable price of about 13.6 million won per 3.3 square meters, providing a competitive edge.

Financial benefits are also provided to reduce the financial burden on buyers. The first contract payment is fixed at a flat rate of 10 million won, and the entire 60% of the interim payment is interest-free, minimizing the initial cost burden until move-in. Since the interim payment accounts for the largest portion of the sale price, this provides substantial relief. Furthermore, there are no restrictions on re-winning, resale, or mandatory occupancy, making it suitable for investment demand as well.

The location and future value are also noteworthy. The complex is near an area where the government recently lifted greenbelt restrictions, and major industrial complex and urban development projects are set to proceed in this area. Once completed, these projects are expected to generate approximately 10.7 trillion won in annual production inducement effects and create over 20,000 jobs, which will have a positive impact on the local economy.

Transportation is also improving. The complex is close to the Jinhae Advanced Industrial Research Complex, allowing for easy commuting, and travel times have been significantly reduced with the opening of the Guigok-Haengam National Road Bypass and the Seokdong Tunnel. In particular, once the Yanggok Interchange Improvement Project is completed in 2026, it will take less than 10 minutes to access downtown Changwon and the national industrial complex.

The product features are also impressive. Most units feature a 4-bay layout with cross-ventilation to maximize natural light and airflow, and various storage spaces such as a master bedroom dressing room, alpha room, and pantry are provided. Within the complex, a wide range of community facilities are available, including a fitness center, indoor golf range, GX room, sauna, small library, study room, kids club, and moms' station. In particular, a curated book service in partnership with Kyobo Bookstore will offer exclusive reading content programs for residents, providing a differentiated living infrastructure.

The breakfast service is also notable. Residents can enjoy convenient breakfasts in the community space, and through a partnership with Jongro M School, children can receive various educational benefits such as tuition discounts, career counseling, and nationwide academic assessments.

Meanwhile, Changwon Megacity Xi & Weave is being supplied through the Daeyagu Station Redevelopment Project and will consist of 17 buildings with 2,638 units, ranging from four basement levels to 37 above-ground floors. Of these, 2,041 units with exclusive areas of 54 to 102 square meters will be available for general sale. The model home is located in Jungang-dong, Seongsan-gu, Changwon Special City, and move-in is scheduled for December 2028.

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