Reinforcing bars are seen sticking out of the facade of a high-rise apartment building under construction in the southwestern city of Gwangju on Jan. 12, 2022, following its collapse the previous day. (Yonhap)
SEOUL, Jan. 21 (Korea Bizwire) — Public voices are growing in support of a ‘post-construction sale system’ after fraudulent construction was pointed out as the cause of the partial apartment building collapse in Gwangju last week.
Major online real estate communities have recently been flooded with a large number of comments supporting the introduction of a ‘post-construction sale system.’
Compared to ‘pre-construction sale systems,’ in which apartments are sold in the ground-breaking stage, under a ‘post-construction sale system’ apartments are sold with a completion rate of 60 to 80 percent, thereby allowing buyers to check the condition of the apartments in advance.
“A post-construction sale system could prevent accidents like the Gwangju apartment building collapse since it encourages constructions firms to avoid the practice of attempting to shorten the construction period.” Kim Heon-dong, president of Seoul Housing & Communities Corp., said on Monday.
Nonetheless, experts cautioned that a post-construction sale system would not necessarily lead to an improvement in the quality of apartments.
Even in the stage where apartments are partially completed, it’s difficult for general consumers to check whether the quality of the buildings is poor or not. In addition, the shortening of the construction period is more a matter of cost-saving.
The post-construction sale system could delay the sale of apartments, causing various side effects such as an increase in the fund-raising burden for construction firms and a hike in apartment sale prices.
M. H. Lee (mhlee@koreabizwire.com)
Howdy! I truly like your endeavors. Continue to share such useful stuff. Truly astonishing. Much thanks to you.