[Asia Economy Reporter Donghyun Choi] Over 10,000 people applied for the first-priority subscription of 'Le L Sinbanpo Park Avenue,' a reconstruction project of Sinbanpo 13th Apartment in Jamwon-dong, Seocho-gu, Seoul, recording a triple-digit subscription competition rate.
According to the Korea Real Estate Agency's subscription homepage on the 9th, the first-priority local subscription for Le L Sinbanpo Park Avenue received 11,205 applications for 98 units, resulting in an average competition rate of 114.3 to 1.
The highest competition rate was 574.3 to 1 for the 107.97㎡ (exclusive area). The competition rates were high in the order of 49.98㎡ (170.3 to 1), 59.99㎡ (127.4 to 1), 84.92㎡ (55.2 to 1), and 84.94㎡ (63.6 to 1).
Le L Sinbanpo Park Avenue consists of 3 buildings, ranging from 3 basement floors to 35 above-ground floors, with a total of 330 units. The average sale price per 3.3㎡ was set at 48.49 million KRW. By area, the prices are ▲49㎡ 1.03 billion KRW ▲59㎡ 1.233 billion KRW ▲84㎡A 1.721 billion KRW ▲84㎡B 1.675 billion KRW ▲107㎡ 2.055 billion KRW.
Since the sale price for all types exceeds 900 million KRW, mid-term and final payment loans are not available, but the relatively affordable prices compared to nearby complexes are believed to have attracted many applicants. For example, an 84㎡ unit in Raemian Sinbanpo Palace, located near this complex, was sold for 2.27 billion KRW in April. Winning a unit in Le L Sinbanpo Park Avenue could yield a price difference of about 500 million KRW.
This complex is within walking distance of Jamwon Station and Sinsa Station on Seoul Subway Line 3. It provides access to commercial areas such as Shinsegae Department Store (Gangnam branch) and Central City, a major express bus terminal. Nearby are Catholic University Seoul St. Mary's Hospital and the National Library of Korea. Shindong Elementary School and Shindong Middle School are located near the complex, allowing for walking commutes. There are also abundant green spaces such as Jamwon Hangang Park and Myeongju Neighborhood Park along the Han River.
The announcement of winners will be on the 16th.
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