Seorihyeop "Remodeling to Supply 120,000 Housing Units in Seoul"

Remodeling associations in Seoul emphasized that the effect of housing supply through remodeling projects is increasing.

The Seoul Remodeling Housing Association (Seorihyeop) held a press briefing on the 13th at the remodeling construction site of The Sharp Dunchon Foret (Dunchon Hyundai 1st Apartment) in Dunchon-dong, Gangdong-gu, Seoul, stating, "As medium-to-large complexes promoting apartment remodeling projects increase, the number of units for general sale is also rising," and added, "Within a few years, remodeling complexes will account for a significant portion of the housing supply not only in Seoul but nationwide."

According to Seorihyeop, there are currently 137 apartment complexes (76 associations, 60 promotion committees) in Seoul pursuing apartment remodeling projects, corresponding to about 110,000 households. Nationwide, there are 264 complexes (153 associations, 111 promotion committees) with a total of 300,000 households pursuing remodeling projects.

Seorihyeop cited the '2030 Seoul Apartment Remodeling Demand Forecast' and estimated that housing supply in Seoul could increase by up to 116,164 units through remodeling that increases the number of households. Expanding nationwide, the increase could reach up to 202,695 units.

Perspective view of 'The Sharp Dunchon Foret' in Dunchon-dong, Gangdong-gu, Seoul.

The Sharp Dunchon Foret, which began general sales on the 11th, is a complex remodeled from Dunchon Hyundai 1st Apartment and is the only new supply in Seoul this month. It consists of 572 units ranging from 84 to 112 square meters, with 14 floors above ground and 2 basement levels. Among these, 74 units are available for general sale. The number of units by size is △84㎡ 52 units △112㎡ 22 units.

The Sharp Dunchon Foret is the first in Korea to newly construct a separate building designated for general sale units. The usable area per association member household increases from the existing 84㎡ to 93?95㎡ through remodeling. Parking conditions are also improved by adding parking lots on two floors. The number of parking spaces increases from the existing 368 (above ground) to 703. Elevators in all buildings connect to the underground parking lot.

Seo Jeong-tae, president of Seorihyeop, said, "Currently, complexes with 500 to 3,000 households in Seoul are pursuing apartment remodeling projects," and added, "It will gradually be proven that remodeling projects can have a significant effect on revitalizing housing supply and increasing demand."