‘Bundang Kumho Eoulim Green Park’
242 households for public sale with distribution system applied
Yatap-dong new construction after 20 years
Resident recruitment announcement scheduled for the 29th of this month
Bird’s eye view of Kumho Eoulim Green Park in Bundang. [홈페이지 캡쳐]
Location of Kumho Eoulim Green Park in Bundang. [홈페이지 캡쳐]
In Yatap-dong, Bundang City, about 200 apartments subject to the sales price cap system will be supplied this month. Not only is the price reasonable according to the pre-sale price cap system, but it is also expected to attract a lot of interest from Seongnam citizens because it is a newly built apartment being supplied in Yatap-dong for the first time in about 20 years.
According to the housing industry and the Seongnam Urban Development Corporation on the 5th, the corporation plans to announce the recruitment of residents for ‘Bundang Geumho Eoulim Green Park’ within this month. A construction official said, “We are aiming to announce recruitment on the 29th of this month.”
Bundang Kumho Eoulim Green Park, supplied to the area of 134-1 Yatap-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, will be constructed with 3 underground floors and 21 above-ground floors, 4 buildings, public housing for a total of 242 households, and auxiliary welfare facilities. By area, 74 m2 of exclusive use will be supplied to 71 households, and 84 m2 of exclusive use, which is in high demand, will be supplied to 171 households.
The complex will be supplied as part of the Yatap-dong public housing construction project, which is developing the Tapgol Park parking lot in Yatap-dong, owned by Seongnam City, into apartments. Although it is a public sale, it is carried out as a public housing project with private participation jointly implemented with a private construction company (Kumho Construction), and is carried under Kumho Construction’s ‘Kumho Eoullim’ brand.
The complex is expected to attract a lot of attention from those waiting to subscribe in terms of location and price. The complex is located in Bundang City, where expectations for reconstruction have heightened with the recent passage of the Special Act on Planned Old City. Yatap-dong is surrounded by Tapgong Park and Seongji Park on both sides, making it a natural residential environment with Yatapcheon Stream flowing in front of the complex. In addition, high-quality jobs such as Bundang Techno Park and KETI Korea Electronics Research Institute are within walking distance.
The pre-sale price has not yet been determined, but a reasonable price is expected as the pre-sale price cap system has been applied. A construction official said, “We are still reviewing the local government’s pre-sale price cap system,” and added, “There is a possibility that it will be supplied cheaper than the apartments built nearby.” In Bundang Magnolia Village, where the complex is being built, an 84㎡ unit exclusively for Yeongnam Apartments (moved in in 1995) was traded for 838 million won in October last year. The current asking price is around 800 to 900 million won. The complex is a new apartment complex to be supplied in Yatap-dong for the first time in 20 years, and there are no nearby complexes to compare with, but if the sale price is at the same level as the market price for buildings built nearly 30 years ago, it is expected that a market profit of hundreds of millions of won can be expected.
The complex is targeted for supply to members of non-household households living in the metropolitan area, but 100% of the supply is given priority to those who have lived in Seongnam City for more than one year. It is expected that opportunities will not be available to residents of other regions.
The complex is subject to a 3-year resale restriction period from the date of announcement of the winner. Unless the sale price is higher than the surrounding market price, actual residence obligations are also imposed. Even if the bill to abolish the actual residence obligation (Amendment to the Housing Act) is passed by the National Assembly in the future, the actual residence obligation will still be imposed on public sales complexes.
2024-02-05 07:39:00
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