First-Priority Applications Open from the 4th
Competition Rate Expected to Rise Due to Anticipated Market Price Gains
A perspective view of Raemian One Perla in Bangbae-dong, Seocho-gu, Seoul. Provided by Samsung C&T Corporation
On the 4th, the 'Lotto Sale' units in Gangnam, Seoul, where a market price difference of 500 million KRW can be expected, will be revealed.
According to real estate research firm Realtoday on the 3rd, Samsung C&T will begin accepting first-priority subscription applications from the 4th for Raemian One Perla, supplied through the Bangbae 6 District housing reconstruction maintenance project in Bangbae-dong, Seocho-gu, Seoul.
The complex consists of 16 buildings ranging from 4 floors to a maximum of 22 floors above ground, with exclusive areas of 59 to 120㎡, totaling 1,097 households, of which 482 units will be sold to the general public. It is located near Naebang Station on Seoul Subway Line 7, and close to Bangbae Elementary School, Sorae Elementary School, Seomun Girls' Middle and High School, and Kyungmoon High School, making the living environment excellent. Access to the Gangnam Business District (GBD) is also convenient via Seoripul Tunnel and Seocho-daero.
Raemian One Perla is called the '5 Billion Lotto' and is expected to yield market price gains. The sale price for the 84㎡ unit, known as the national standard size, is about 2.45 billion KRW at the highest price, which is approximately 500 million KRW lower than the market price of nearby apartments. For example, the nearby newly built Bangbae Grangjai 84㎡ unit was traded at 2.93 billion KRW in October last year. Because the price is lower than nearby units, the subscription competition rate is expected to soar.
However, unlike other complexes, the down payment is 20% of the sale price and must be paid by the 27th of next month, so if you do not have tens of billions of KRW in cash, it may be difficult to apply for the subscription itself. For the 84㎡ unit, the down payment alone amounts to 450 million KRW.
Additionally, since it is a post-sale, move-in is scheduled for November, and monthly interim payments must be made. As the complex is located in a speculative overheating district, there is a three-year resale restriction period, and re-winning restrictions apply. Also, credit loans exceeding 100 million KRW cannot be obtained to pay the down payment.
An industry expert said, "Compared to newly built apartments, there is a price difference of about 500 million to 700 million KRW, and since it is near a subway station and has surrounding commercial areas, competition is expected to be fierce," but added, "Considering the market is in a severe slump and loan restrictions due to the speculative overheating district, these factors must be taken into account."
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