Resale Allowed... Large Influx of Investors and End-Users Expected
Lotte Construction will open a cyber model house for 'Dobong Lotte Castle Golden Park,' located in Banghak-dong, Dobong-gu, Seoul (former Big Market Dobong branch), on the 3rd and begin sales.
The complex will be supplied as long-term general private rental housing, allowing stable residence for 10 years. This housing is acquired and rented by rental businesses for the purpose of leasing for more than 10 years, and it is not public-supported private rental housing.
Unlike general sale apartments, residents can live long-term for up to 10 years without tax burdens such as acquisition tax, comprehensive real estate tax, and property tax. No subscription savings account is required when applying, there are no resale restrictions after winning, and it is not included in the number of houses, making it popular among both actual demanders and investors.
'Dobong Lotte Castle Golden Park' will be built on 11 lots including 717-6 Banghak-dong, Dobong-gu, Seoul, with 2 buildings ranging from 4 basement floors to 23 above-ground floors, totaling 282 households. All households are composed of a single exclusive area of 84㎡, which is highly preferred by demanders. The number of households by type is ▲84㎡A 80 households ▲84㎡A-1 38 households ▲84㎡B 80 households ▲84㎡C 42 households ▲84㎡D 42 households.
The interior features a 4-bay plate-type central design allowing versatile space utilization, and some units by type will have open balconies. Additionally, instead of external sash steel railings, reinforced glass railings with open-type facade windows, mainly applied in high-end residential-commercial complexes, will be installed. Other features include ceiling-type system air conditioners, large dressing rooms, built-in wardrobes, corridor pantries, hybrid cooktops, built-in kimchi refrigerators, and ovens as standard.
Community facilities to enhance residents' convenience will include a study room, fitness center, and book cafe. Sales facilities with a total floor area of approximately 20,000㎡ are planned from the basement 1st floor to the 3rd floor above ground.
The complex is a super-station area located right in front of Banghak Station on Subway Line 1, allowing access to downtown business areas such as Jongno and City Hall within 30 minutes. Nearby Chang-dong Station is being developed as a wide-area transfer center where Lines 1 and 4, as well as the future GTX-C line (scheduled for 2027), will stop, enabling travel to Samsung Station within 10 minutes once opened.
Extension of the Ui~Banghak light rail is also planned, and nearby road networks such as Madeul-ro, Banghak-ro, Dobong-ro, and Dongbu Expressway make access to Seoul and inter-regional travel convenient.
Within a 10-minute walk are school facilities such as Obong Elementary School, Dobong Middle School, and Munhwa High School, and the Junggye-dong bank intersection, a major academy district, is about a 20-minute drive away, making it convenient for academy use.
A Lotte Construction official said, "Dobong Lotte Castle not only has excellent location conditions but also the rarity of new apartments due to the supply shortage in the Dobong area. It is possible to apply regardless of subscription savings accounts or home ownership, and since it allows stable residence for 10 years amid unstable market conditions such as loan regulations and interest rate hikes, high interest from demanders is expected."
Subscription applications can be made on the Lotte Castle website for two days on December 6 (Monday) and December 7 (Tuesday). Winners will be announced on the 9th (Thursday), and contracts will be conducted for three days from the 14th (Tuesday) to the 16th (Thursday).
Meanwhile, last month, the private rental housing subscription for 'Dongducheon Jungheung S-Class Hera City' in Dongducheon-si, Gyeonggi-do attracted a total of 166,169 applicants for 466 households, recording an average competition rate of 356.58 to 1.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
