Samsung C&T Construction Division's redevelopment project in Imun 1 District, Dongdaemun-gu, Seoul, 'Raemian La Grande,' sold out approximately three weeks after the official contract signing began.
On the afternoon of the 11th of last month, the consultation desks at the Raemian La Grande model house inside the Raemian Gallery in Munjeong-dong, Songpa-gu, Seoul, were fully occupied. / Photo by Noh Kyung-jo
According to Samsung C&T on the 24th, Raemian La Grande completed contracts for all units on the 23rd. This was the result of supplying units that became available due to disqualified winners among the initial contracts held from the 3rd to the 6th of this month to the reserve winners.
Raemian La Grande consists of 3,069 households across 39 buildings, ranging from five basement floors to a maximum of 27 floors above ground, with exclusive areas between 52 and 114 square meters. Among these, 920 units (including special supply) were offered for general sale. The average sale price was 32.85 million KRW per 3.3 square meters, with units of 84 square meters priced between 1 billion and 1.1 billion KRW. Move-in is scheduled for January 2025.
In the first-priority subscription on the 16th of last month, 37,024 applicants competed for 468 units, recording an average competition rate of 79.1 to 1. In the earlier special supply subscription, excluding institutional recommendations, 10,467 applicants applied for 362 units, showing an average competition rate of 28.9 to 1.
This is interpreted as being positively influenced by the high preference for the Raemian brand, expectations of future value, and the fact that there is a one-year resale restriction period (from the announcement date of winners) without a mandatory residence requirement.
Meanwhile, about 14,000 households will be developed in the Imun-Hwigyeong New Town area where the complex is located. Next month, HDC Hyundai Development Company and GS Construction plan to offer 'Imun I-Park Xi' in Imun 3 District for sale.
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