"Up to 500 Million Won From Tomorrow… Likely a Variable": Buzz Surrounding "Samsung-Adjacent" Real Estate

[Anchor]

Starting tomorrow (September 1), Samsung Electronics will provide low-interest loans of up to 500 million won to homeless employees. This move 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.

In late 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 August 17.

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

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

The apartment sales price growth rate in Giheung-gu, Yongin-si, where a Samsung Electronics business site 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 because there is high demand due to a lack of supply, I don't think prices will drop easily.]

A Bank of Korea research study showed that following the payment of performance bonuses this year, residents of Icheon, where SK Hynix is located, significantly increased their purchases of real estate in areas like Dongtan and Yongin.

On top of this, Samsung Electronics' housing fund loans for homeless employees, which begin tomorrow, serve as 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 rentals. Loans are also available for "trade-up" purchases, where buyers purchase a new home while disposing of their existing one.

Debt Service Ratio (DSR) regulations do not apply.

[Park Won-gab / Senior Real Estate Specialist at KB Kookmin Bank: There is an effect of increasing housing purchasing power, which could increase housing demand in the semiconductor belt. However, the market is not made up solely of Samsung Electronics employees. If the base interest rate rises further, it could put the brakes on rising home prices.]

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

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