The real estate market in Cheongju, North Chungcheong Province, is showing signs of recovery, with housing market indicators improving amid growth in the semiconductor industry and a rising local population.
According to first-quarter statistics released by Cheongju city, local exports reached $8.307 billion, up 53.7 percent from the same period last year. The trade balance surplus stood at $7.548 billion, with semiconductors accounting for 81.2 percent of total exports.
Housing market indicators also improved. Unsold units in Cheongju, which had climbed to 1,184 as of November last year, fell to 154 as of March this year. Apartment transactions over the same period totaled 3,493, up 11.4 percent year on year.
The city's population is also growing. Cheongju added 3,115 residents from January through April this year, surpassing the increase recorded during the same period last year. As of the end of April, the city's population stood at 888,463.
Against this backdrop, Daewoo Engineering is accepting unranked apartment subscriptions for remaining units at Cheongju Prugio Cielliche.
The complex sits on the Bunpyeong-Mipyeong district urban development site in Mipyeong-dong, Seowon-gu, Cheongju. It comprises 10 buildings rising 29 floors above ground with two below-ground levels, offering units with exclusive use areas of 84 to 114 square meters across a total of 1,351 households.
According to the Korea Real Estate Board's subscription platform Cheongyanghome, the complex drew 7,295 applications for 1,015 units — excluding special supply — during its first- and second-priority subscription round in April, recording an average competition ratio of 7.19 to 1.
The Bunpyeong-Mipyeong district covers roughly 127,700 square meters of urban development land and shares a living zone with the existing Bunpyeong district. The area is expected to form a broader residential belt linking the Dongnam, Bangseo and Bunpyeong 2 districts.
The complex will feature a range of community amenities, including an indoor swimming pool, sauna, fitness center, indoor golf practice range and cafe.
No owner-occupancy requirement or resale restrictions apply, and the initial deposit is set at a flat 10,000,000 won (about $6,480).
The unranked subscription opens today, with results announced Thursday and contracts scheduled for June 18. A model home is open in Bunpyeong-dong, Seowon-gu, Cheongju, and move-in is set for March 2029.
kim3956@heraldcorp.com
