"Up to 500 Million Won Starting Tomorrow... Likely a Variable," Stirring the 'Samsung-Station' Housing Market

[Anchor]

Starting tomorrow (the 1st), Samsung Electronics will provide low-interest loans of up to 500 million won to employees who do not own homes. This is expected to impact apartment prices in areas with a high concentration of semiconductor industry workers, such as Dongtan in Hwaseong and Yongin.

Reporter Baegun has the details.

[Reporter]

A mixed-use residential complex in Dongtan-gu, Hwaseong-si, Gyeonggi Province.

At the end of June, a unit with a dedicated area of 54 square meters was traded at 580 million won, but the price jumped to 650 million won on the 17th of this month.

The apartment sales price growth rate in Dongtan, one of the semiconductor belt areas, expanded more than fourfold from the previous week to 0.54% in the fourth week of August.

[Yoon Ki-won / Real estate agent in Dongtan-gu, Hwaseong-si: Transaction volume reached around 2,000 in June. However, after it became a regulated area, it dropped to about 150 in July. Starting in August, transaction volume and inquiries are increasing again.]

The apartment sales price growth rate in Giheung-gu, Yongin-si, where a Samsung Electronics workplace is located, also nearly doubled from the previous week to 0.63%.

[Hong Soon-beom / Real estate agent in Giheung-gu, Yongin-si: Because living close to work is possible and supply is insufficient while demand is high, I don't think prices will drop easily.]

According to a Bank of Korea research result, residents of Icheon, where SK Hynix is located, significantly increased their real estate purchases in places like Dongtan and Yongin following the payment of performance bonuses this year.

On top of this, housing-related loans for homeless employees at Samsung Electronics, which begin tomorrow, are another variable.

Loans are available at a low interest rate of 1.5% per annum, up to 500 million won for home purchases and up to 300 million won for leases. Loans can also be received for "upgrading" to a new home while disposing of an existing one.

Debt Service Ratio (DSR) regulations do not apply either.

[Park Won-kap / Senior Real Estate Specialist at KB Kookmin Bank: There is an effect of increasing housing purchasing power, so housing demand in the semiconductor belt is likely to increase. However, the market is not participated in solely by Samsung Electronics employees. If the benchmark interest rate rises further, there is a possibility that brakes will be put on the rise in house prices.]

The Bank of Korea suggested that policies are needed to channel increased income into various forms of consumption and the real economy.

(Video by: Kim Hak-mo | Video Editing by: Kim Ho-jin | Design by: Lim Chan-hyeok)
※ Please note: This article was translated by AI and may contain errors.