‘Gwangjang Le Edge 29’ Nearing Move-In, Discounted Sale Available

- Unsold Apartments in Seoul Form Premium Amid Increasing Fully Sold Complexes
- 'Gwangjang Le Edge 29' Discounted Sale

Until earlier this year, there were frequent cases of people winning apartment subscriptions but then canceling contracts due to controversies over high sale prices compared to nearby market prices. However, recently, more complexes that remained unsold are being completely sold out.

This is because apartment sale prices and transaction prices have been continuously rising, increasing the number of buyers eager to secure their own homes before it gets any later.

In fact, despite controversies over high sale prices, complexes such as 'Sangdo Prugio Clavenue' in Dongjak-gu, Seoul, and 'The Sharp Dunchon Foret' in Gangdong-gu, which had unsold units even after move-in began in March this year, have been fully sold. The ‘Olympic Park Foreon,’ the largest reconstruction complex since the founding of Korea, which was an unsold apartment at the time of its sale in December 2022, now commands premiums ranging from several hundred million to over 1 billion KRW as move-in approaches in November.

Along with rising sale prices, the scarcity of new apartments is increasing due to a shortage in housing supply.

The number of move-in units, which was 361,844 units last year, decreased to 355,946 units this year. Next year, it is expected to drop by over 100,000 units to 248,039 units, and by 2026, it is projected to fall to 147,141 units, which is more than 200,000 units less than this year, roughly halving the supply.

In response, the government has announced plans to resolve the apartment supply shortage by releasing greenbelt areas near Seoul and supplying more than 20,000 quality housing units. However, most of these will be supplied outside Seoul, and these units are not expected to be sold quickly, with sale prices predicted to be very high, increasing interest in unsold apartments within Seoul.

Meanwhile, 'Gwangjang Le Edge 29,' a rare new apartment complex in Seoul scheduled for move-in this December, is offering discounted sales.

Located in Gwangjang-dong, Gwangjin-gu, Seoul, the new apartment 'Gwangjang Le Edge 29' has a total floor area of 2,902.01㎡, with one basement floor and 16 floors above ground. It consists of unit types preferred by actual buyers: ▲61㎡ exclusive use, ▲64㎡A and B exclusive use, ▲67㎡ exclusive use, and ▲83㎡ exclusive use.

Gwangjang-dong, Gwangjin-gu, where 'Gwangjang Le Edge 29' is located, has four subway stations within a 1 km walking radius: Line 5 Gwangnaru Station, Achasan Station, Line 2 Gangbyeon Station, and Guui Station. It is centrally located in Seoul, with easy access to key areas such as Gangnam/Songpa and Gangdong-gu within 10 minutes, Seoul Children's Grand Park 2 km away, Ttukseom Resort 2 km, Seoul Asan Hospital/Konkuk University 2 km, Dong Seoul Bus Terminal 2 km, Jamsil Station/Lotte World 5 km, and Samseong Station/COEX within 7 km, making it convenient to move around Seoul's core areas.

Gwangjang-dong in Gwangjin-gu boasts an excellent educational environment, earning the nickname ‘Little Daechi-dong.’ Nearby are prestigious schools such as Yangjin Elementary, Yangjin Middle, Gwangnam Middle, Gwangnam High, and Daewon Foreign Language High School, along with numerous academies, making it a popular area for parents with school-age children seeking quality education.

The apartment is conveniently located near large shopping malls and offers abundant green spaces for leisure activities in harmony with nature. Nearby are Lotte Department Store, Star City Mall, Konkuk University Rodeo Street, the Han River, Achasan Ecological Park, Achasan Sports Park, Guui Baseball Park, and Children's Grand Park.

Especially notable are the nearby high-level medical services, including Konkuk University Hospital (with 1,200 beds, 600 doctors, and 34 departments including pediatrics and emergency medicine) and Seoul Asan Hospital, the largest hospital in Korea (with 2,764 beds, about 1,800 doctors, and over 52 departments including internal medicine and obstetrics).

'Gwangjang Le Edge 29' incorporates specialized designs for residents' convenience. Built-in appliances such as a dishwasher, oven range, chef collection induction cooktop, and four wind-free ceiling air conditioners are provided free of charge.

Additionally, it features a 10-inch wall pad, entrance camera, sensors and control devices (including unified lighting switches and boiler linkage), IoT door opening detection sensors, IoT smart outlets, IoT lighting switches controllable via touch buttons, push-pull door locks, bathroom phones (in master bedrooms) for visitor verification, communication, and security office contact, parking control systems, and unmanned parcel lockers.

Notably, some units have two-sided balconies, allowing even small-sized apartments to offer a maximum usable area equivalent to 27?28 pyeong (approximately 89?92㎡), earning favorable reviews from buyers.

'Gwangjang Le Edge 29' is the first new apartment supplied in Gwangjin-gu in over 10 years. Buyers can select their desired unit without a subscription savings account and can move in at their preferred time after December without risks of bankruptcy or construction defects.

The Gwangjang Le Edge 29 sales office is located near the site in Guui-dong, Gwangjin-gu.