[Exclusive] ‘Bold Pre-sale Controversy’ Jamsil The Sharp Ruben Finally Starts First-Come, First-Served Sales

Aerial view of Jamsil The Sharp Ruben, Songpa-dong, Songpa-gu, Seoul

[Asia Economy Reporter Ryu Tae-min] Despite the controversy over the high sale price exceeding 65 million KRW per pyeong, 'Jamsil The Sharp Ruben,' which showed a competition rate of several hundred to one in the general sale subscription, has entered a first-come, first-served sale due to the occurrence of unsold units.

According to the maintenance industry on the 12th, Jamsil The Sharp Ruben in Songpa-gu, Seoul (remodeling of Songpa Seongji Apartment), which held a general sale on the 5th and 6th, recorded a high competition rate of 252.1 to 1 on average, with a total of 7,310 applicants for 29 units despite the controversy over the high sale price of 65 million KRW per pyeong.

This complex, which is attempting vertical and extension remodeling for the first time in Korea, is transforming from 298 units to 327 units. Since 29 units were sold to avoid the application of the sale price ceiling system, the sale price is very high. The sale price per 3.3㎡ (1 pyeong) is 65 million KRW, about 10 million KRW higher than the previous highest sale price of 56.68 million KRW per 3.3㎡ at 'Raemian One Bailey' in Banpo-dong, Seocho-gu. For the exclusive 106㎡ type supplied through general sale, the sale price ranges from 2.5918 billion KRW to 2.647 billion KRW, far exceeding the loan limit of 1.5 billion KRW.

However, contrary to the extensive promotion of 'first-priority subscription closing,' it has been revealed that the recruitment of 29 units for general sale failed within the contract period for winners and preliminary winners, making the promotion meaningless. Jamsil The Sharp Ruben announced that due to many unsold units, they are accepting non-priority subscriptions today.

Despite the high sale price, Jamsil The Sharp Ruben recorded a high competition rate because it is evaluated as a rare medium-to-large new complex in the Gangnam area. In particular, since the number of units for sale is less than 29, no subscription savings account is required, and there are no restrictions on resale or mandatory residence, which attracted buyers' attention. It seems that many homeowners and people in their 20s and 30s aiming for short-term profits flocked to this. In fact, many posts by winners and preliminary winners of this complex's subscription appear on real estate-related online communities, stating they will sell after receiving 'Chopi (initial premium).'

A sales official from Jamsil The Sharp Ruben said, “Since many of the winners are young people in their 20s, most of the unsold cases were due to failure to cover the deposit,” adding, “It seems that there was a lot of investment demand aiming for short-term profits through resale before paying the deposit.”