Doosan Construction announced on September 3 that all units in the 'Doosan Weve The Central Dohwa' project in Incheon's Michuhol District have been sold, completing the contract for 412 units available for general sale.
As housing costs in Seoul have risen, demand has shifted to Gyeonggi Province and Incheon. According to a report from the Korea Real Estate Agency on August 27, apartment prices in Seoul increased by 0.29% in the fourth week of August. Despite price declines in areas like Gangnam and Seocho, record-high transactions continue in the outskirts.
In the first seven months of this year, a total of 19,902 apartments were purchased by residents of Seoul in Gyeonggi and Incheon, marking a 45.1% increase compared to the same period last year. This accounted for 14.7% of total transactions, up from 11.9%.
The rise in interest rates has also influenced this trend. With the base rate climbing to 3.0%, buyers relying on loans must consider not only the sale price but also future interest costs. As prices increase, both initial capital and financing costs rise.
An industry insider stated, “In a market restructured around actual residents, demand does not shift simply because prices are lower. Given the increased burden of interest rates and loans, the key factor in housing selection will be how much location and product quality can be secured at a price level that actual buyers can afford.”
Amid this market atmosphere, attention is turning to Doosan Construction's upcoming project, 'Doosan Weve The Zenith Bucheon,' which boasts excellent accessibility to Seoul and a large-scale development of over 2,000 units.
The 'Doosan Weve The Zenith Bucheon,' developed by a consortium of Doosan Construction and Ssangyong Construction, will consist of seven buildings with a maximum height of 49 stories, totaling 2,008 units, including 1,728 apartments and 280 officetels, in the Sosa District of Bucheon.
The development is located within walking distance of Sosa Station, a double station where the Seoul Metropolitan Subway Line 1 and the West Coast Line intersect. Line 1 allows for direct access to major areas in Seoul, such as Guro, Sindorim, Yeongdeungpo, and Yongsan, while the West Coast Line provides access to key areas in the metropolitan area, including Gimpo Airport. Additionally, a GTX-B line is expected to be established at Bucheon Sports Complex Station, just one stop away on the West Coast Line.
A sales representative noted, “As housing prices in Seoul rise and interest rates increase, actual buyers are likely to pay closer attention to factors such as accessibility to Seoul, living convenience, and affordable pricing when selecting homes. New apartments that offer excellent accessibility to Seoul while providing suitable living conditions and reasonable financial planning will become more prominent in Gyeonggi Province.”
* This article has been translated by AI.
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