Move-in Starts in January... Ttukseom Hangang Riverside Area Transforms into a Luxury Residential Complex
Jeonse Prices Set 500 Million KRW Higher Than Trimage... "Hangang Riverside + Seoul Forest View"
[Asia Economy Reporter Onyu Lim] The move-in for 'Acro Seoul Forest,' a luxury residential-commercial complex apartment in Seongsu-dong, Seoul, is imminent. The jeonse prices of this complex, which offers views of both Seoul Forest and the Han River, have already surpassed the sale prices by several hundred million won. With the addition of Acro Seoul Forest following Galleria Foret and Trimage, this area is being recognized as a new affluent neighborhood in northern Seoul.
According to the real estate industry on the 26th, Acro Seoul Forest (280 households) will begin move-in early next year. According to the construction company Daelim Industrial, pre-inspections for residents are currently underway. From this complex, which rises up to 49 floors, residents can see not only the Han River but also Seoul Forest and Namsan. Daelim Industrial applied specialized designs to maximize the premium on views, adjusting the number of households per floor to 3 units, and 4 units for floors below the 9th, and arranged the buildings in a T-shape so that every household can enjoy views of either Seoul Forest or the Han River.
Due to the excellent location and view rights, a profit of over 500 million won compared to the sale price is expected, and the non-priority subscription, known as 'jupjup,' held in May recorded a competition rate of 88,208 to 1.
As the move-in approaches, jeonse and monthly rental transactions are also actively taking place. According to real estate agencies in the Seongsu-dong area, the jeonse asking price for the smallest unit of 96㎡ (exclusive area) in this complex is around 2 billion won. This is more than 200 million won higher than the sale price of 1.768 billion won three years ago. The jeonse market price for the 164㎡ unit, which was sold for 2.841 billion won, is around 3.5 to 3.7 billion won. This is about 500 million won higher than the 152㎡ unit of Trimage, completed in 2017.
The real estate industry evaluates that the Ttukseom area of Seongsu-dong is emerging as a high-end residential area comparable to Hannam-dong in Yongsan-gu. An industry insider said, "Not only with the move-in of Acro Seoul Forest but also with redevelopment projects up to 50 floors being promoted in various parts of the Han River side in Seongsu-dong, this area is expected to undergo significant transformation in the future."
Meanwhile, Daelim Industrial is being recognized for successfully establishing itself in the developer business through Acro Seoul Forest. Daelim Industrial is responsible for everything from project development to construction and operation. After purchasing the site in 2005, it is now on the verge of completion after about 15 years. A Daelim Industrial official emphasized, "Through the successful completion and operational management of Acro Seoul Forest, we will further strengthen our capabilities in the developer business and actively pursue development projects in various fields."
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