- News of luxury home transactions worth tens of billions continues daily
- Residential products enticing VVIPs like 'Lucia Dosan 208' attract attention
The hottest issue in the real estate market is undoubtedly the Gangnam big-ticket apartment pre-sale. It is setting new records for the highest pre-sale prices, and its location and scale are truly 'unprecedented.' In June, a long-awaited brand apartment was released in Gangnam, creating a buzz. The competition rate was fierce, and a perfect subscription score (84 points) was even recorded.
However, many people who have been waiting for the pre-sale for a long time have expressed surprise after seeing the interior design. Due to pre-sale price regulations, prices must be set within the basic construction cost range, making it impossible to differentiate from regular apartments. Some even say it is the same as public pre-sale apartments on the outskirts of the metropolitan area.
A real estate expert said, "Wealthy individuals with assets worth tens of billions of won want luxurious interior designs and hotel-level services that stand out from others, but government regulations in the apartment pre-sale market make it impossible to apply these elements." He added, "As a result, big investors are increasingly gravitating toward housing with fewer than 30 units or luxury officetels that avoid the pre-sale price ceiling system."
Boom in the Ultra-High-End Housing Market
In fact, houses tailored to the top 1% standards are being traded daily. According to the Ministry of Land, Infrastructure and Transport's actual transaction prices, there were 89 ultra-high-end apartment transactions over 5 billion KRW in Seoul this year. Notable properties include PH129 in Cheongdam-dong, which sold for 11.5 billion KRW, as well as Hannam The Hill in Hannam-dong, Nine One Hannam, Galleria Foret in Seongsu-dong, and Acro Seoul Forest.
High-priced officetel transactions are also soaring. Leading the market was the Lotte World Tower and Lotte World Mall in Sincheon-dong, sold for 9.22324 billion KRW, followed by Pienpolus in Cheongdam-dong and Tower Palace in Dogok-dong, which traded in the 3 to 4 billion KRW range.
The pre-sale fever is also intense. Singer and actress IU purchased a large unit in 'Eterno Cheongdam' in Cheongdam-dong for 13 billion KRW. Despite the ultra-high price, only 1 to 2 units remain. Nearby, some units of Lucia Dosan 208 officetel (52?60㎡, 37 units) are currently on sale. The pre-sale price for a 55㎡ unit is 2.2 billion KRW. Urban lifestyle housing (41?43㎡, 55 units) priced at 1.5 billion KRW sold out quickly.
The living room-dining-kitchen (LDK) is arranged lengthwise, measuring about 9 meters, with a ceiling height of 2.8 meters, higher than other high-end residences. The windows use a punched window design, creating a distinctive effect where the view outside looks like a framed picture from inside. Additionally, the walls between windows provide better insulation than curtain wall systems and effectively ensure privacy.
Each product boasts exquisite residential quality that elicits admiration. The kitchen is furnished with Italian 'Arclinea' products. A spacious island table, allowing face-to-face conversation, adds luxury. The faucets are from the Italian luxury brand 'GESSI,' known for its simple elegance, and the flooring is from 'Tarkett,' a French luxury brand that holds the top global market share for eco-friendly flooring. The dressing room is decorated with 'Rimadesio,' known as the 'Herm?s of dressing rooms,' maximizing sophistication.
Customized residential services reflecting VVIP needs are also offered. Plans include valet parking, housekeeping, laundry, and dry car wash services, along with security services to ensure safe living conditions for residents.
Officetel pre-sale rights are not counted as housing units, and since the scale is under 100 units, resale is allowed. Moreover, the acquisition tax for officetels is fixed at 4.6%, so even if multiple houses are owned, it is not subject to acquisition tax surcharges.
A sales representative said, "We have strived to provide the best living space that satisfies the top 1% through the use of premium imported materials, differentiated floor plans, and concierge services throughout the interior," adding, "Inquiries from VVIPs are nonstop, and we expect to finalize contracts soon."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
