We can't put it off any longer...Construction companies begin push-out sales
As uncertainty in the real estate market increases this year due to factors such as high interest rates, rising raw material and labor costs, and PF insolvency, construction companies that were unable to hastily set a sales schedule are planning to begin selling in large numbers at the end of the year. This is because construction companies, which had been adjusting their sales schedules while monitoring the real estate market situation, are no longer able to delay delays.
First of all, from the construction company's perspective, if sales are delayed, it will be difficult to secure funds (down payment, interim payment, etc.), and difficulties are expected in the construction project. Even if sufficient funds have already been raised, an increasing number of sites are being forced to sell as the completion (occupation) time approaches. The time of determining the timing of sales based on the market atmosphere is over.
In addition, sales cannot be further delayed as domestic and international events such as the general election and the Asian Cup await in the first half of next year. This is because there is a high possibility that national attention will be focused on various events rather than the sales market.
In the end, beleaguered construction companies are rushing to sell before it is too late. Despite December being the typical off-season for the sales market, construction companies are expected to pour out the largest volume of sales this year.
As sales volume temporarily surges, voices concerned about oversupply are growing, but from the consumer's perspective, there are more 'gains' than 'losses.' This is because consumers can make wise purchases as their choices become wider. In addition, as competition among construction companies intensifies, they offer better sales conditions to consumers, such as benefits of down payment, expansion of balconies, and free options.
According to Real Today, a real estate research company, 66 locations and 59,438 households (including rentals and excluding officetels, based on first-tier subscription) are scheduled to be sold nationwide in December. Among these, the general sales volume is 46,272 households. The general sales volume in the metropolitan area was 25,563 households (55.2%), and in regional areas it was 20,709 households (44.8%).
This is an increase of approximately 81.9% compared to the previous highest volume in November (25,445 households). By city/province, Gyeonggi accounted for the overwhelming majority with 16,079 households (22, 34.7%). The quantity was surveyed in this order: 6,331 households in Incheon (7 locations, 13.7%), 3,944 households in Gwangju (3 locations, 8.5%), and 3,153 households in Seoul (10 locations, 6.8%).
This month, the Seoul real estate market still showed its strong side. Looking at the competition rate for first place subscription by city/province (as of November 23), Seoul had the highest average of 111.11 to 1. In addition, Gangwon (18.45 to 1) and Gyeonggi (10.1 to 1) also recorded double-digit competition rates, demonstrating the hot sales fever. On the other hand, Ulsan and Gyeongnam regions had to close the application process without even reaching single-digit competition rates. The average competition rate for first place in the metropolitan area is 15.3 to 1, and in regional areas it is 3.5 to 1, a difference of about 5 times.
GS E&C plans to sell ‘Cheonggye Riverview Xi’ (Yongdap-dong housing redevelopment) built in Yongdap-dong, Seongdong-gu, Seoul. The complex consists of 14 buildings, 2 floors underground and 35 floors above ground, with a total of 1,670 households. Among these, 797 households with an exclusive area of 59 to 84 m2 will be sold to the public. You can walk to Dapsimni Station on Subway Line 5 and Sindap Station on Line 2.
Lotte Engineering & Construction presents ‘Sosa Station Lotte Castle The Newel’ in Sosabon-dong, Bucheon-si, Gyeonggi-do. The complex consists of 6 buildings, 3 floors underground and 35 floors above ground, with an exclusive area of 59 to 132 m2, and a total of 983 households. You can use Sosa Station, a transfer station for Subway Line 1 and the West Sea Line, on foot.
DK Asia (implementation) is preparing to sell ‘Wanggil Station Royal Park City Prugio’, which is being built in Wanggil-dong, Seo-gu, Incheon. It has 2 underground floors and 29 above-ground floors, 15 buildings, an exclusive area of 59~99㎡, and a total of 1,500 households. This complex, which claims to be a resort city, has specialized landscaping facilities.
Hyundai Engineering & Construction is selling ‘Hillstate the Unjeong’ in Wadong-dong, Paju-si, Gyeonggi-do. It will be comprised of a total of 3,413 households with an exclusive area of 84 to 164 m2. The complex is also close to Unjeong Lake Park, which is 3.2 times larger than Yeouido Park. Also, the Sori Stream flows nearby, so you can use the walking trail right in front of the complex. You can walk to Unjeong Station on the Gyeongui-Jungang Line.
GS E&C, Hyundai E&C, and SK Eco Plant are selling ‘Gwangmyeong Xi Hillstate SK View’ in Gwangmyeong-dong, Gwangmyeong-si, Gyeonggi-do. This place has an exclusive area of 34~99㎡ and a total of 2,878 households, of which 639 households are sold to the public. It has excellent educational conditions as it is close to Gwangmyeong Elementary School, Middle School, and High School, as well as Yeonseo Library.
HDC Hyundai Development Company sells ‘Seosan Central I-Park’ and ‘Cheongju Ga-Gyeong I-Park Complex 6’ in Seokrim-dong, Seosan-si, Chungcheongnam-do, and Gagyeong-dong, Heungdeok-gu, Cheongju-si, Chungcheongbuk-do. ‘Seosan Central I-Park’ has an exclusive area of 84~116㎡ and a total of 410 households. This is the first I-Park brand apartment in Seosan and will be built on the highest floor in the region.
‘Cheongju Gakyung I-Park Complex 6’ will be constructed with a total of 946 households with an exclusive area of 84~116㎡. In this area, a large-scale I-Park brand town is expected to be formed once the occupancy of complexes 1 to 5, the 6th complex being sold this time, and the 7th and 8th complexes that will be sold in the future are completed.
Lotte Engineering & Construction opens a model house of ‘Dongrae Lotte Castle Signature’ located in Suan-dong, Dongrae-gu, Busan, and begins sales in earnest. It has 4 buildings, 3 floors underground and 47 floors above ground, with a total of 870 households. Among these, 164 households will be sold to the public. Within walking distance are Gyodae Station on Busan Subway Line 1, Suan Station on Line 4, and Dongrae Station on the Donghae Line.