I’ll only take all the cash rich… Anger of Daegu apartment subscribers

Daegu Suseong-gu, 899.26 million won in pre-sale… Virtually exceeded 900 million
Do you apply the changed HUG standard… Sales price’surge’
“You must pay the intermediate payment while receiving the special supply…”

A perspective view of'Hillstate Manchon Station', the best selling price in Daegu.  / Source = Hyundai Engineering

A perspective view of’Hillstate Manchon Station’, the best selling price in Daegu. / Source = Hyundai Engineering

“I gave up early”, “Only cash-rich people will take it”, “No matter how Gangnam in Daegu, it’s too much”, “If you don’t have an option, it’s less than 900 million won, but I don’t understand that 60% of the intermediate payment is self-payment”, “Telephone Why can’t I connect?”…

Daegu housing subscribers are angry. This is because apartments with a pre-sale price of over 900 million won (84m2) for exclusive use in Daegu have come out. The highest price for the tenant recruitment announcement is 899.26 million won. However, if various options are added to the balcony expansion cost, the pre-sale price rises sharply to over 900 million won and over 1 billion won. This is the story of’Hillstate Manchon Station’ (718 households), an apartment building in Manchon-dong, Suseong-gu, Daegu by Hyundai Engineering.

According to the Korea Real Estate Agency subscription home on the 28th, the average sale price per 3.3㎡ of’Hillstate Manchon Station’ was 24 million won, the highest ever recorded in Daegu. (Based on the highest price) In the case of 84 square meters for exclusive use, a pre-sale price of 899.26 million won came out, and for the 136 square meters for exclusive use, 1.355.73 million won was set. The cost of extending a balcony for exclusive use of 65~84㎡ is 30 million won, and the 136㎡A type is 42 million won. The down payment is 20%, and intermediate payment loans are not possible and must be paid by self-payment.

Daegu Suseong-gu is called Daegu’s Gangnam and has been subject to various real estate regulations. It is an overheated district for speculation and overheated for subscription. Sale prices have been controlled by the Housing and Urban Guarantee Corporation (HUG). However, as HUG completely revised the rules for evaluating high pre-sale prices and the detailed enforcement rules, and the new pre-sale price standard was applied, the pre-sale price vertically increased.

A notice from'Hillstate Manchon Station' that informs you that you have to pay yourself without an intermediate payment loan.  / Source = Homepage

A notice from’Hillstate Manchon Station’ that informs you that you have to pay yourself without an intermediate payment loan. / Source = Homepage

In order to expand housing supply, HUG has changed it to the standard for determining the pre-sale price. From the 22nd of last month, for apartment complexes that are newly sold in high sales price management areas (excluding areas where the sales price ceiling system is enforced), they announced that they will set the sales price up to 85-90% of the surrounding market price. It was based on the judgment that the supply was slow in redevelopment and reconstruction, based on the existing pre-sale price. Concerns over the rise in pre-sale prices were loud, but it was enforced, and in the end, the best pre-sale price in Daegu was renewed.

Various criticisms and criticisms are continuing in real estate-related cafes and group chat rooms of Daegu subscribers. The pre-sale price is not over 900 million won, but the biggest dissatisfaction is the lack of intermediary loans. Through a notice, Hyundai Engineering announced, “In the case of 60% of the apartment’s intermediate plating, you must pay’directly’ according to the payment schedule.” He emphasized that “intermediate payment arrangements are not obligatory for business entities and construction companies.”

The basic pre-sale price does not exceed 900 million won, so’special supply’ is received. Special supply is not applicable if the pre-sale price exceeds 900 million won in the overheated district. However, Hillstate Manchon Station barely exceeded 900 million won, so 172 out of 658 apartments were allocated as special supplies.

Mr. A, who is preparing an application in Daegu, said, “It’s like a tricky sale price.” There will be only a spoon.” Another Mr. B said, “It’s far from the school district and it’s not very good for elementary, middle, and high schools,” he said. “It will be sold out (completely sold), but it is a condition that only cash-rich people can sign up.”

In the Daegu real estate market, housing prices have risen sharply as supply to the aging residential environment has not been adequately provided. At the same time, as the sale price of newly sold apartments rose, the atmosphere of’It is better to get the sale first’ spread. Despite last year’s new coronavirus infection (Corona 19) and the designation of areas subject to adjustment in all regions, the total number of subscribers in Daegu reached 395,375. The average apartment competition rate was 21.37:1.

In Daegu, the initial pre-sale rate, which represents the ratio of the number of contracted households to the total number of pre-sale households at the initial time of apartment pre-sale, continues to be 100%. The initial sale rate of private apartments in Daegu recorded 100% for three consecutive quarters, including the second, third, and fourth quarters of 2020.

In Suseong-gu, an exclusive 84m2 apartment was sold for 1.5 billion won last year. This was the first time it exceeded 1.5 billion won outside the metropolitan area. This year, high-priced transactions are appearing one after another, mainly in Beomeo-dong. On the basis of 84 square meters for exclusive use, Beomeo-dong Gyeongnam Town was sold for 1.75 billion won in January, and Belivebeom also traded at 1.54 billion won.

Hill State Beomeo, who moved in last year, changed hands for 1.35 billion won this month, and Beomeo Central Prugio changed its highest price in January to 1.33 billion won. In Manchon-dong, near Hillstate Manchon Station, Manchon Hwaseong Park Dream 3rd was traded for 1.29 billion won in January.

An industry insider predicted, “In Daegu, there is a perception that the winning of the pre-sale is a lotto, and end users are also joining the subscription.”

Hankyung.com reporter Kim Hana [email protected]

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