- From 9 AM on weekends, lines over 500M long continue and parking is impossible
- Special supply applications start today, the 8th (Mon)
The model house for ‘Dongtan 2 New Town Dongtan Station Daebang Elyium The Signature’ attracted a large crowd on the first weekend after its opening on the 6th. The enthusiasm for the price-capped apartments at the last Dongtan Station location was clearly felt.
It took more than 30 minutes just to get into the parking lot after passing through a long line of vehicles filling the access road, and then visitors had to line up again to enter the model house. At that time, there appeared to be at least 400 to 500 people waiting in front of the model house.
The situation inside the model house was the same. Both the first and second floors were packed with people touring the units and seeking subscription consultations. When drawing a consultation waiting ticket, there were over 100 people ahead, and it took more than an hour to finish viewing the units and consultations.
The large crowd is attributed to the fact that the price-capped apartments were offered at prices lower than nearby market prices, and residents of Seoul and Incheon were also eligible to apply.
The sale price was set starting from approximately KRW 445 million for a 63㎡ exclusive area and from approximately KRW 594 million for an 82㎡ exclusive area. When converted per 3.3㎡ including expansion costs, the average price is about KRW 20.49 million, reflecting the application of the price cap system and considered reasonably priced compared to nearby actual transaction prices. According to the Ministry of Land, Infrastructure and Transport’s real transaction price disclosure system, the ‘Dongtan Station Lin Strauss’ 84㎡ exclusive area was traded for KRW 1.16 billion last March.
The subscription schedule starts today, July 8 (Monday), with special supply applications, followed by first priority on the 9th (Tuesday), and second priority on the 10th (Wednesday). Applications can be submitted on the Korea Real Estate Board’s subscription website from 9 a.m. to 5:30 p.m. The announcement of winners will be on the 17th (Wednesday), and contract signing will take place between the 29th (Monday) and 31st (Wednesday).
A man in his 30s who visited the model house said, “Competition for apartments seems fierce, so I’m considering applying for an officetel, but it seems as well-made as an apartment,” with most opinions agreeing that the design is a viable alternative to apartments.
In this way, the residential officetel ‘Daebang Elyium The Signature’ is gaining positive responses from visitors by showcasing specialized floor plans through the model house. This officetel is the first in Dongtan New Town to offer balconies under the government’s January 10 real estate measures. Two balconies are planned to allow comfortable use of Bedroom 1 and the kitchen, and as service spaces not included in the contract area, residents can enjoy the maximum usable area comparable to apartments.
Additionally, the free (limited-time) provision of high-end finishing materials attracted visitors’ attention. Wide (wood) flooring or polished tile flooring and interior walls are installed free of charge (limited-time), and ceramic tile finishes, preferred by actual users, are applied in the kitchen. Since such high-end finishes are mostly provided for a fee even in regular apartments, this drew a favorable response from visitors. Furthermore, △ FCU air conditioners installed in all rooms △ imported faucets (Grohe) △ smart ovens △ 13-inch premium wall pads are provided. These features are expected to enhance residents’ convenience while reducing their burden.
Meanwhile, unlike apartments, no subscription savings account or points are required, and anyone aged 19 or older residing in Korea can apply regardless of residence restrictions or home ownership. Also, a limited-time benefit of 5% down payment and full interest-free installment payments is being offered, reducing the financial burden on buyers.
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