Expecting 500 Million KRW Capital Gains... 20,000 People Flock to 'The Sharp Dunchon Foret' Zoom-Zoom Purchase

More than 20,000 people flocked to the non-priority subscription for 'The Sharp Dunchon Foret' in Gangdong-gu, Seoul. Despite the tight schedule for securing funds due to it being a post-sale complex, it is analyzed that the expectation of a market price gain of over 500 million KRW upon winning played a role.

According to the Korea Real Estate Board's subscription website on the 23rd, The Sharp Dunchon Foret recorded an average competition rate of 1,530.64 to 1, with 21,429 applicants for 14 units (exclusive area 84㎡A) in the non-priority subscription held the previous day. The announcement of winners will be on the 25th of this month, and the contract date is the 3rd of next month.

The Sharp Dunchon Foret Perspective / Image provided by POSCO E&C

A sales official said, "The exclusive 84㎡ pre-sale rights for the nearby Olympic Park Foreon (Dunchon Jugong reconstruction) were traded at 1.9 to 2 billion KRW last month, while the pre-sale price for The Sharp Dunchon Foret exclusive 84㎡ is in the 1.3 billion KRW range," adding, "Even considering differences in complex size, it seems that demand has focused on the expectation that a minimum market price gain of 500 million KRW is possible upon winning."

The Sharp Dunchon Foret will be developed on 30-4 Dunchon-dong, Gangdong-gu, and one other lot, consisting of 572 units ranging from 84 to 112㎡ across 14 floors above ground and 2 basement levels. Move-in is scheduled for November 2024.

The complex is about a 5-minute walk from Jungang Veterans Hospital Station, an express stop on Seoul Subway Line 9, and has easy access to Gangbyeonbuk-ro and Olympic-daero. It is also close to Gangil IC, Sangil IC, and Seo Hanam IC, facilitating convenient travel to various areas. Furthermore, with the planned extension of Line 9 Phase 4 (scheduled for 2028) and the recently announced 'Top 30 Innovation Strategies in Transportation,' including the establishment of the GTX-D Line Gangdong Station (tentative name, planned), the transportation network is expected to improve further.

In addition, elementary, middle, and high schools such as Seonrin Elementary and Dunchon High School are concentrated within walking distance, including Dunchon Middle School right in front of the complex, providing a safe commuting environment. Nearby Iljasan Urban Nature Park features various parks and rest facilities such as the Herb Astronomy Park, Gangdong Greenway Family Camping Site, indoor gymnasium, walking trails, and artificial waterfalls. Olympic Park, Gildong Ecological Park, and Gwangnaru Hangang Park are also easily accessible. Convenience facilities include Jungang Veterans Hospital, Hyundai Department Store, E-Mart, Lotte Cinema, and Gangdong Sacred Heart Hospital.