'DH Firstier I-Park'
3 Cancelled Contracts Offered at 2020 Prices
Three units will be available for non-priority subscription this month at 'The H Firstier I-Park' in Gaepo-dong, Gangnam-gu, Seoul. Since they are supplied at the price from four years ago, winning the subscription is expected to yield a market price difference of up to about 2 billion KRW.
On the 20th, the real estate industry reported that 'The H Firstier I-Park' in Gaepo-dong, Gangnam-gu, Seoul, announced on the 21st that it will accept non-priority subscriptions for three units of exclusive 34A㎡, 59A㎡, and 132A㎡ on the 26th.
The H Firstier I-Park was jointly constructed by Hyundai Engineering & Construction and HDC Hyundai Development Company. It is a large complex with a total of 6,702 households that were sold in 2020 and moved in this January. The sale prices were 670 million KRW for exclusive 34A㎡, 1.32 billion KRW for exclusive 59A㎡, and 2.26 billion KRW for exclusive 132A㎡. The exclusive 59㎡ unit was traded for 2.20198 billion KRW in December last year, and the exclusive 132㎡ unit recently signed a sales contract for 4.9 billion KRW.
The market evaluated that since the sale price is at the same level as the initial sale price four years ago, a considerable market price difference can be expected. According to the Ministry of Land, Infrastructure and Transport's real transaction price disclosure system, the exclusive 59A㎡ unit at The H Firstier I-Park was traded for 2.20198 billion KRW in December last year, which is about 900 million KRW higher than the sale price. The exclusive 132㎡ unit signed a sales contract for 4.9 billion KRW last month. The expected market price difference is 2 billion KRW.
Since it is a non-priority subscription, anyone nationwide can apply regardless of subscription savings account or number of houses owned. There are no regulations such as mandatory residence or resale restrictions. If selected, funds can be raised by leasing the unit. However, since the selection date is the same for all, only one of the three unit types can be applied for.
This complex, which reconstructed Gaepo Jugong 1 Complex in Gangnam-gu, Seoul, consists of 74 buildings with 6,702 households (exclusive 34~170㎡) from basement level 4 to ground level 35. It is within walking distance to Guryong Station on the Suin-Bundang Line and Dogok Station and Maebong Station on Line 3.
Some expect that The H Firstier I-Park may record the highest subscription competition rate ever. In June last year, 829,804 people applied for one unit in the non-priority subscription of 'Heukseok Xi' in Heukseok-dong, Dongjak-gu, Seoul. Since the market price difference is expected to be even greater for this non-priority subscription, there are predictions that the number of applicants could exceed one million.
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