Non-Qualified Subscription Units for One Household Released in Seoul... Expecting 800 Million Won Market Price Gain

59㎡ '1 Household' Subscription Scheduled Due to Contract Cancellation
Sale Price Approximately 790 Million Won... Actual Transaction Last Month at 1.6 Billion Won

A subscription unit with an expected market price difference of 800 million KRW has been released in Sadang-dong, Dongjak-gu, Seoul. Intense competition is anticipated for the single unit available due to contract cancellation.

According to the Korea Real Estate Board's Subscription Home on the 23rd, a non-priority subscription for one unit with a exclusive area of 59㎡ at 'Isu Prugio The Pretium' in Sadang-dong, Dongjak-gu, Seoul, will be held on the 27th. This complex, rebuilt from Sadang 3 District, consists of 11 buildings ranging from 3 basement floors to 15 above-ground floors, totaling 514 units, and was already occupied in June 2021. The unit available this time is the remaining one due to contract cancellation.

A notice about housing subscription posted at a bank in downtown Seoul. [Image source=Yonhap News]

The subscription is open to non-homeowners residing in Seoul, with no restrictions on resale or mandatory residence period. Therefore, it is possible to rent out the unit to cover the subscription payment.

The sale price is approximately 790 million KRW, while the current jeonse (long-term deposit lease) price exceeds 800 million KRW. Additionally, the unit was recently transacted at 1.6 billion KRW last month, so a simple calculation suggests an expected market price difference of 800 million KRW.

The winner will be announced on the 4th of next month. The deposit is 10% of the sale price.