Lotte Construction Continues Sales Success, 'Guui Station Lotte Castle Eastpole' Also Attracts Attention

- Lotte Construction's sales complexes like 'Cheongnyangni Lotte Castle High Luce' and 'Daeyeon DIEL' continue to be popular
- 'Guui Station Lotte Castle East Pole' special subscription on July 31, first priority subscription on August 1... Strong interest from buyers

Demanders' attention is focusing on Lotte Construction's sales activities. Despite the sluggish sales market earlier this year, they have steadily supplied sales units and continuously succeeded in attracting buyers, solidifying their position as a high-quality brand apartment.

For example, in July this year, ‘Cheongnyangni Lotte Castle High Luce’ in Dongdaemun-gu, Seoul, recorded the highest competition rate nationwide this year with an average of 242.30 to 1 for the first priority application. Also, in the same month, the consortium-supplied ‘Daeyeon DIEL’ in Nam-gu, Busan, recorded the highest competition rate in Busan this year with an average of 15.62 to 1 for the first priority application.

Earlier in January, ‘Changwon Lotte Castle Forest Complex 1 and 2’ in Changwon, Gyeongnam, recorded an average of 28.72 to 1 and 28.02 to 1 respectively for the first priority application, proving their strength by being the only complexes to close first priority applications successfully despite the nationwide sluggish subscription market at the time.

Given this situation, there is a forecast that ‘Guui Station Lotte Castle Eastpole,’ scheduled for subscription this month, could break the highest competition rate nationwide this year. In fact, the pre-visit reservation held before the model house opening on the 21st (Friday) was fully booked in less than an hour. According to sales officials, more than 40,000 customers registered the complex as an interested site on the homepage.

The attention on Guui Station Lotte Castle Eastpole is due to its status as a large complex with up to 48 floors and a total of 1,063 households, located in the subway Line 2 Guui Station station area. Additionally, the large supply of exclusive areas over 85㎡, which are rare in Seoul, is also attracting attention. Since subscriptions are conducted by a 100% lottery system, it is expected to receive much interest from demanders with low points.

Within the Jayang 1 Redevelopment Promotion Zone where the complex is located, there are Gwangjin-gu Office, a 5-star global brand hotel, shopping malls, multiplex Megabox, premium officetels, and office facilities, allowing for one-stop living. As part of Seoul city’s urban planning, the above-ground Guui Station will be undergrounded, and the nearby East Seoul Terminal is planned to be transformed into a 40-floor complex space, so the residential environment in the area is expected to improve significantly.

Price competitiveness is also high. According to KB Real Estate market prices, the sale price of ‘Gangbyeon SK View (moved in July 2017)’ with an exclusive area of 84㎡ nearby is 1.46 billion KRW as of June this year, and the sale price of ‘Raemian Premier Palace (moved in October 2017)’ with the same area is 1.425 billion KRW. Considering both complexes are small-scale with fewer than 300 households and are in their 7th year since moving in, the sale price of the same area in the large new complex ‘Guui Station Lotte Castle Eastpole’ is evaluated as highly price competitive. Especially, considering that the sale asking price for the same area of ‘Lotte Castle River Park Signature,’ moving in this month in Jayang-dong, Gwangjin-gu, recently formed at 2.5 billion KRW, ‘Guui Station Lotte Castle Eastpole’ is priced at least 1 billion KRW lower.

Moreover, it offers a rare benefit for new complexes sold in Seoul: a 10% down payment, 60% deferred interest payment on the intermediate payment, and free balcony expansion.

Meanwhile, ‘Guui Station Lotte Castle Eastpole’ is located in Jayang-dong, Gwangjin-gu, Seoul, consisting of 6 buildings from 7 basement floors to a maximum of 48 floors, with a total of 1,063 households, of which 631 households with exclusive areas of 74 to 138㎡ will be sold to the general public. The subscription schedule starts with special supply on July 31 (Monday), followed by first priority on August 1 (Tuesday), and second priority on August 2 (Wednesday). Winners will be announced on August 9 (Wednesday), and the official contract will be conducted over five days from August 21 (Monday) to August 25 (Friday).

The model house is located in Seocho-dong, Seocho-gu, Seoul, and the move-in date is scheduled for March 2025.