Record High Price Among Price Ceiling System Complexes
84㎡ Starting at 2.2 Billion KRW, 1 Billion KRW Cheaper Than Nearby Complexes
3-Year Resale Restriction but No Obligation for Actual Residence
The subscription schedule for 'Cheongdam Le El,' located along the Han River in Cheongdam-dong, Gangnam-gu, Seoul, will begin on the 19th. It is expected to see fierce competition as buyers can enjoy a price difference of around 1 billion KRW and there is no obligation for actual residence.
The subscription schedule for Cheongdam Le El starts with special supply on the 19th, followed by first priority for the relevant area on the 20th, first priority for other areas (residents living in Seoul for less than 2 years and residents of Gyeonggi and Incheon) on the 23rd, and second priority for both relevant and other areas on the 24th. The announcement of winners is scheduled for the 30th, and contracts will be signed from October 14 to 16.
Cheongdam Le El will be developed at 134-8 Cheongdam-dong, Gangnam-gu, Seoul, consisting of 9 buildings from 4 basement floors to 35 above-ground floors, with 1,261 households ranging from 49 to 218㎡ in exclusive area. The general sale units are 149 households with exclusive areas of 59 to 84㎡. The number of households by area and type is △59㎡A 34 units △59㎡B 39 units △84㎡A 25 units △84㎡B 38 units △84㎡C 13 units. Move-in is scheduled for November 2025.
The average sale price of Cheongdam Le El is 72.09 million KRW per 3.3㎡, the highest among complexes subject to the price ceiling system so far. The sale prices by area are 1.739 billion to 2.0198 billion KRW for 59㎡ units and 2.2911 billion to 2.5202 billion KRW for 84㎡ units.
Even considering that nearby apartments are in their 14th year since completion, the price difference compared to the sale price is expected to be at least 800 million to 1 billion KRW. The 'Cheongdam Xi,' which moved in in 2011, recorded the highest price with a transaction of 3.29 billion KRW (8th floor) for an 82㎡ unit in June. A 50㎡ unit in the same complex was traded for 2.28 billion KRW (20th floor) last month.
As the area is subject to the price ceiling system, the resale restriction period is 3 years, but there is no obligation for actual residence. If the market price is similar to or higher than nearby complexes, the actual residence obligation does not apply. Units without the actual residence obligation can be leased to tenants immediately upon move-in. The Jeonse (long-term deposit lease) price for Cheongdam Xi is around 1.6 billion KRW for 82㎡ units and around 1 billion KRW for 50㎡ units.
To qualify for first priority subscription for Cheongdam Le El, applicants must have been subscribed to a subscription savings account for at least 2 years as of the announcement date and meet the deposit amount requirements by region. Only household heads with no home or owning one home or less can apply for first priority, and those who have continuously lived in Seoul for more than 2 years can apply as first priority in the relevant area.
The special supply quantity is a total of 64 units, and the general supply quantity is 85 units. Among the general supply units, 7 units are available for first-homeowners to apply and win. These include 2 units of 59㎡A, 3 units of 59㎡B, and 1 unit each of 84㎡A and 84㎡B.
Cheongdam Le El is a redevelopment of the Cheongdam Samik Apartment complex, constructed by Lotte Construction. Located along the Han River, it offers views of the river and is situated in an ultra-station area near Cheongdam Station on Subway Line 7. It has excellent transportation conditions with well-established wide-area transport networks such as Olympic-daero, Dongbu Expressway, and Yeongdong-daero. Within walking distance are Bongeun Elementary and Bongeun Middle Schools, and it is close to prestigious school districts such as Gyeonggi High School and Yeongdong High School, as well as the Daechi-dong academy district. There are also abundant green spaces and parks such as Cheongdam Neighborhood Park and Bongeunsa Temple.
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