This spring, the attention of prospective buyers is focused on the housing complexes for sale. This is because the possibility of apartment prices rising further is significant due to the impact of rising material costs, labor costs, and land prices. There is increasing focus on the 'Yongin Prugio One Cluster 2∙3 Complex' that Daewoo E&C plans to sell at the end of this month.
The Yongin Prugio One Cluster 2∙3 Complex will be located in the southeastern area of the Cheoin District in Yongin, Gyeonggi Province. It will feature a total of 2,043 units with exclusive areas of 59∙84㎡.
The subscription process was conducted on the Korea Real Estate Board subscription homepage, with special supply on the 22nd and first-priority subscription on the 23rd. The second-priority subscription date is the 24th. The announcement date for the winners will differ, with Complex 2 on May 2 and Complex 3 on May 7, allowing overlapping subscriptions for both complexes.
The burden of contracts has also been significantly reduced. The down payment has been lowered to 5%, and a fixed rate of 5 million won has been implemented for the first contract payment. Resale will be possible six months after the announcement date of the winners, and notably, the date for resale will arrive before securing the interim payment loan.
The Yongin Prugio One Cluster 2∙3 Complex is expected to benefit from the large-scale 'semiconductor cluster' being developed around Cheoin District. In the area of Wonsam-myeon, SK hynix's 'Yongin Semiconductor Cluster General Industrial Complex' is under development, and in February, construction began on the first fab (semiconductor plant) on a site of 4.15 million square meters. The remaining three fabs are also planned to be completed sequentially.
As the rise in apartment prices is anticipated, the number of buyers wishing to subscribe promptly is increasing. This is due to increasing factors for construction and sales price hikes, including the rise in raw material and labor costs. Starting in June, zero-energy building certification (20-40% energy independence) will be mandatory for private apartments with more than 30 units. Once the zero-energy certification is implemented, insulation materials, high-performance windows, and solar power facilities must be introduced to enhance efficiency.
In addition, there are many pending bills, including mandatory application of noise reduction construction and mandatory establishment of fire response facilities for electric vehicles. Recently, due to the aftermath of the U.S.-China tariff war and the soaring exchange rate of the won against the dollar, the prices of materials heavily dependent on imports are rising. The sales prices have skyrocketed over the past year. According to the Korea Housing and Urban Guarantee Corporation (HUG), as of the end of March, the apartment sales prices in the metropolitan area increased by 10.4% compared to a year ago.
An increase in land prices has also been forecasted. According to the Ministry of Land, Infrastructure and Transport, nationwide land prices rose by 2.15% last year, a larger increase than in 2023 (0.82%). Consequently, businesses are taking a more cautious approach to new development projects, making supply even more challenging. Additionally, if a business site does not have potential, the project financing remains tight, making it difficult for businesses to proceed.
A real estate industry official noted, 'In some urban and prime areas, land prices have risen by about 20-30% over the past few years, significantly increasing the burden of land acquisition for supplying new apartments.'