- Seoul Faces "Supply Cliff" as Pre-sale and Move-in Rights Transactions Double... Demand for New Apartments Remains Strong
- "Sindorim Station Dongmoon The East" Draws Attention with 59m² Units Starting in the 800 Million Won Range and 2.5% Contract Deposit
As the average sale price of apartments in Seoul surpassed 1 billion won for the first time, newly built apartments in Seoul that are relatively reasonably priced are attracting the attention of genuine homebuyers.
According to the "May Monthly Housing Price Trends" report released by KB Real Estate on May 25, the average sale price of homes in Seoul was recorded at 1,003,980,000 won. This is the first time the figure has exceeded 1 billion won since related statistics began to be compiled. Among these, the average sale price of apartments soared to 1,345,430,000 won, an increase of more than 70 million won compared to January (1,275,030,000 won).
Amid this continued upward price trend, the supply of new apartment units in Seoul is decreasing, leading to a full-fledged "supply cliff." Nevertheless, demand for newly built apartments remains strong, resulting in increased activity in the trading of pre-sale rights and move-in rights.
According to the Ministry of Land, Infrastructure and Transport's actual transaction price disclosure system, the number of transactions involving pre-sale rights and move-in rights for Seoul apartments from January to April this year (as of May 29) totaled 472. This represents a 106% increase compared to the same period last year (229 transactions). The strong enthusiasm for new apartments persists, as captured by the expression "Eoljuksin" (meaning "even if I freeze, I only want new apartments"), despite the challenging price and supply situation.
A real estate industry official stated, "With the supply of new apartment units in Seoul having significantly decreased and prices continuing to rise, competition to quickly secure units that are cheaper than the market price is expected to be fierce." The official added, "In particular, complexes supplied at prices below 1 billion won are highly scarce, making them noteworthy not only for residential purposes but also in terms of asset value."
Against this backdrop, Dongmoon Construction's "Sindorim Station Dongmoon The East," located in Guro-dong, Guro-gu, Seoul, near Sindorim Station, is drawing attention as it is set to begin discretionary supply on June 12, with prices starting from the 800 million won range.
"Sindorim Station Dongmoon The East," constructed by Dongmoon Construction, is located near Sindorim Station, where both Seoul Subway Line 1 and Line 2 intersect, allowing convenient access to major business districts in Seoul such as Gangnam, Yeouido, and Jongno. In particular, with the GTX-B line scheduled for completion by 2030, the area is expected to become a triple-station zone in the future.
The educational environment is also excellent. Future Elementary School is just a one-minute walk from the complex, and there are several other schools nearby, including Younglim Middle School, Sindorim Middle School, Guro Middle School, and Guro High School, enabling safe and convenient commutes for students.
Another notable feature is the availability of one-stop living infrastructure in the vicinity. Residents can conveniently access a variety of lifestyle amenities such as NC Department Store, E-Mart, Homeplus, and CGV. In addition, there are natural environments such as Guro Street Park, Samgak Children's Park, and Dorimcheon, providing a pleasant and relaxing lifestyle.
Despite the compact unit sizes, Dongmoon Construction's specialized design, which prioritizes resident convenience, also stands out. The complex features at least two bathrooms in every unit for enhanced residential convenience, and built-in closets are provided as standard. Furthermore, the top-floor units feature a specialized terrace type, with terraces at both the front and rear of each unit, accommodating a variety of lifestyles.
The reasonable contract terms are also attracting considerable interest from buyers. To reduce the initial financial burden on buyers, a contract deposit of only 2.5% is required, with interest-free installment payments for the balance, and free balcony extension benefits are offered. There are no restrictions on resale or mandatory occupancy, making the complex attractive to investors as well.
Meanwhile, the current discretionary supply for Dongmoon Construction's "Sindorim Station Dongmoon The East" targets the remaining seven units in the 59m², 74m², and 84m² categories. More detailed information can be found on the website or by phone inquiry, and in-depth consultations are also available at the promotional center in front of the site.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
