- Concluded reception of subscription with competition ratio of 1.03:1 for the 3rd ranked priority subscribers… Successfully applicants will be announced on the 2nd - Plans to commence signing of the sales with the successful applicants beginning on the 7th… Occupancy is scheduled by the end of October
Even in the midst of difficulties in the real estate sales market due to the recession in the real estate market, there is a residential unit sales complex that completed subscription within the prescribed ranks that is drawing attention in the market.
HYUNDAI AMCO, a subsidiary construction company of Hyundai Motor Group of Companies (Representative Director: Kim, Chang Hee; www.hyundai-amco.co.kr), announced that signing of the contract with the successful subscribers for the 58 of the 171 residential units of Incheon Yonghyeon AMCO TOWN, which the company is selling in the format of sales after completion, for sales to the general public will commence on the 7th and continue for 3 days.
HYUNDAI AMCO commenced subscription by general public for the 58 units from 23rd to the 26th last month, which was concluded with competition ratio of 1.03:1 at the 3rd rank priority subscribers. The company is planning to commence signing of the contract over 3 days from the 7th with the successfully subscribers who were be announced on September 2. Occupancy of the apartment is scheduled at the end of October.
Mr. Cho, Myung Rae, the Head of development division of development division of the HYUNDAI AMCO stated that “we were confident that we could successfully complete subscription within the prescribed ranking as we have received numerous comments of low sales price, efficient space composition and high class finishing materials since the opening of the model house” and that “we anticipate that we will be able to complete the sales early since the sales conditions have become more favorable with alleviation of the DTI regulation in accordance with the Measures for Real Estate announced on August 29.”
Yonghyeon AMCO TOWN is the 4th apartment project after the Incheon Bupyeong, Ulsan Shincheon and Sangdo project, and is the first apartment project that HYUNDAI AMCO is selling in the format of sales after completion. Scale: 2 buildings with 1 underground floor and 12∼19 above ground floors.
Total of 171 units are composed of 25 units with exclusive floor space of 78㎡(formerly 23 pyeong), 26 units with 91㎡ (formerly 27 pyeong), 108 units with 107∼108㎡(formerly 32 pyeong) and 12 units with 111㎡(formerly 33 pyeong). All the units are of small to medium floor space type in consideration for the actual demands in the region, and the sales price per 3.3㎡ is set at approximately 7.6∼8.0 million Won range, which is 500,000~1 million Won lower than the market price in the surrounding region.
Among these, 58 units composed of 14 units with 78㎡(formerly 23 pyeong), 7 units with 91㎡(formerly 27 pyeong), 31 units with 107∼108㎡(formerly 32 pyeong) and 6 units with 111㎡(formerly 33 pyeong), with the exception of 113 units earmarked for the cooperative members, will be sold to the general public.
Yonghyeon AMCO TOWN enhanced the space utilization level by applying 3-bay type design to all floor area types, and majority of the units are facing south, thereby offering excellent natural lighting and scenic views. Moreover, this region has outstanding school environment with 1 each of elementary, middle and high schools within 5 minutes of walk from the apartment complex, and offers substantially convenient residential environment with presence of convenience facilities such as Home-Plus, E-Mart and Lotte-Mart, as well as medical facilities such as Inha University Hospital in the vicinity.
This region, which is emerging as the center of new residential complexes with activation of redevelopment projects for the older urban centers of Incheon, is situated close to the Incheon IC of Gyeongin Expressway and Neunghae IC of the 2nd Gyeongin Expressway, making accessibility excellent. It is anticipated to acquire status as apartment complex situated within subway station district with planned completion of the 2nd outer beltway and commencement of operation of Suin Route railway that connects Suwon and Incheon in the future.