- Bid Announcement on May 8 (Wed)... Bid Application on 10th, Contract from 13th to 14th
- Highest Price Competitive Bidding for Estimated Price... Expectations for Reasonable Estimated Price
On Wednesday, May 8, 'The Sharp Gangdong Central City' announced the supply of quasi-public rental apartments. The complex is located in Cheonho-dong, Gangdong-gu, Seoul, consisting of 6 basement floors to a maximum of 38 floors above ground, with exclusive areas of 84㎡ and 59㎡, totaling 670 households, of which 80 are quasi-public rental apartments. The quasi-public rental apartments are all composed of small to medium-sized units preferred by consumers, with the number of households by type as follows: ▲59㎡A 23 units ▲59㎡B 30 units ▲59㎡D 1 unit ▲84㎡A 8 units ▲84㎡B 7 units ▲84㎡C 11 units.
As a result of the first-priority subscription application, a total of 5,751 applications were received, recording an average competition rate of 59.29 to 1 and a highest competition rate of 105.86 to 1. The complex achieved a remarkable feat by selling out within 13 days of the sale, drawing significant attention to the supply of these quasi-public rental apartments.
The bidding schedule for The Sharp Gangdong Central City quasi-public rental apartments begins with the bidding announcement on Wednesday, May 8, followed by the payment of the bid deposit over two days from May 8 (Wednesday) to May 9 (Thursday). Bidding applications will be accepted on Friday, May 10, with the successful bidders selected on Saturday, May 11. Contracts will be signed over two days from Monday, May 13 to Tuesday, May 14.
The priority for selecting successful bidders is determined in the order of first priority (all at once), second priority (by group), and third priority (by household). The bid deposits vary by selection type: 1.6 billion KRW for first priority (all at once), 60 million KRW for second priority (by group), and 20 million KRW for third priority (by household).
The bidding method for The Sharp Gangdong Central City quasi-public rental apartments is also reasonable. The bidding will be conducted electronically through the official website of The Sharp Gangdong Central City, proceeding as a competitive bidding with the highest bid above the predetermined price, allowing bidders to win at a reasonable price.
A real estate official stated, “The quasi-public rental apartments at The Sharp Gangdong Central City have received many inquiries even before the bidding announcement,” adding, “Since anyone nationwide aged 19 or older can invest in a location within the Gangnam 4 districts, nationwide attention is focused on this opportunity.”
The Sharp Gangdong Central City also offers excellent living conditions. In terms of transportation, it boasts a double station area with walking access to Cheonho Station, an interchange station for subway lines 5 and 8, and Gangdong Station on line 5, allowing residents to enjoy the Gangnam living area. Additionally, it provides easy access to central business districts such as Jongno and Gwanghwamun, as well as the Yeouido business district. Moreover, the complex benefits from excellent wide-area transportation networks including Olympic-ro, Cheonho-daero, Gwangjin Bridge, as well as Gangil IC, Amsa IC, and Seo Hanam IC, which is expected to generate abundant rental demand in the future.
Furthermore, the extension and opening of Line 8’s Byeollae Station is scheduled for 2024, and the Seoul-Sejong Expressway (planned) along with the GTX-D line are additional advantages. Notably, the GTX-D line is expected to pass through Gangdong Station, connecting major metropolitan areas such as Incheon Airport, Gangnam, Samsung, and Jamsil, enabling rapid travel across the metropolitan transportation network and promising high future value.
Within a 500-meter radius of the complex are abundant living infrastructures including Hyundai Department Store, E-Mart, 2001 Outlet, Seongnae and Gobundari Traditional Markets, and nearby medical facilities such as Gangdong Sacred Heart Hospital. Additionally, the surroundings offer plentiful green spaces such as Hangang Park, Cheonho and Pungnap Neighborhood Parks (Pungnap Fortress), Amsa Prehistoric Site, and Gildong Ecological Park.
The Cheonho-dong area is expected to form a new residential town in the Gangnam area through residential development projects, which is anticipated to bring benefits accordingly. In fact, the Cheonho-dong area, including the Cheonho-Seongnae Redevelopment Promotion District where the complex is located, is undergoing continuous development of the Cheonho New Town, steadily increasing its value.
Bidding applications for The Sharp Gangdong Central City quasi-public rental apartments will be accepted on Friday, May 10 through the official website.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
