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Booming Ulsan, best place for buyers who intend to purchase new apartments!
2012-06-07
Ssangyong Yega’s, Model House show attracted 15,000 people over four days
Why so popular in Ulsan? Above-average Chonsei 1 prices, equivalent to over 70 % of the sale price, higher income levels, small-and-medium sized four-bay design, modern amenities & affordable prices
Popularity of new apartment building sales in Ulsan is steadily going on.
It is expected that the trend in the housing market, especially for new apartments, continues in the future because Chonsei prices in Ulsan are equivalent to more than 70% of the apartment sale prices (as against the national average of about 60%) and also because the city’s income level has increased.
On May 31, Ssangyong E&C (Chairman & CEO, Kim, S.Joon) opened the display house of ‘Ssangyong Yega in the Hwabong District, Ulsan’ to which as many as 15,000 people had flocked over four days.
“Not so much difference between sale and Chonsei prices. It is only 10 million won. I am thinking of buying a new apartment,” and “Most of the apartment complexes here in this area were built more than ten years ago, so that new ones are in great demand. In particular, SsangYong Yega has a small-and-medium sized four-bay structure and all modern amenities. That is why this complex is so popular,” said Hyun-sook Kim (35), one of those who visited the show home.
“Not long ago, Woo-jeong Innovation City’s Yega in Ulsan was greatly received in the market to such an extent as to record a national high in terms of application rates. One of the reasons for popularity is affordable prices, ranging between seven to eight million won per 3.3㎡,” apartment sales director Jong-sang Ryou explained.
Starting with preferred sales on the 5th of June, Ssangyong E&C accepts applications from those who are eligible and graded into three groups according to the order of priority: first and second-level groups can apply on the 7th and the third one on the 8th. Official contracts will follow for three days from the 19th to 21st after final winners are announced on June 14. In January 2014 they can move in.
Designed with four different types (from A to D) of an 84-square-meter exclusive area, Yega is built in the Hwabong Housing Development District 2, Buk-gu, Ulsan. For more comfortable living space, the complex is comprised of only 487 households with a 115% floor area ratio in the parcel of land which can accommodate as many as 10,000 families.
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1. Korea’s unique housing rental system- the tenant pays a lump-sum amount of deposit to the owner for the use of the property and does not need to make a periodic rent payment. The deposit is fully refunded at the end of contract period with no interest.