Even during an economic downturn, limited edition products continue to open the wallets of the wealthy. Because only a small quantity is sold, their high level of scarcity can work to their advantage in terms of future premiums. The same applies to real estate. As the number of 'Young & Rich'?young affluent consumers who are now leading consumption trends?increases, luxury residential products that actively reflect their lifestyles are gaining significant attention.
In fact, on June 28 and 29, there were reports of long waiting lines at the sample house for Eunard Beomeo in Beomeo-dong, Suseong-gu, Daegu. This is a high-end residential complex supplied by POSCO E&C. It demonstrates the unwavering demand for top-tier housing, even amid the strictest-ever real estate loan regulations.
According to the Ministry of Land, Infrastructure and Transport's actual transaction price system, a 273.94-square-meter unit at Nine One Hannam, a luxury residence in Seoul, was sold for 25 billion won in February. In March, an 84-square-meter unit at Raemian One Bailey in Seocho-gu reached a price of 7 billion won.
This is evidence that wealthy buyers of top-tier residences, many of whom are cash-rich, are less affected by market fluctuations. In addition, real estate experts say, "In Seoul, where new housing supply is lacking, there is a strong desire to secure the leading residences in prime locations."
◆ Lucia Cheongdam 546 The River, Cheongdam-dong's Large Single Penthouse Nears Completion
Amid this atmosphere, 'Lucia Cheongdam 546 The River' in Cheongdam-dong, Gangnam-gu, Seoul, is set for completion in September. As the tallest penthouse in Cheongdam-dong at 110 meters, and with its large unit sizes, it stands out as a massive-scale high-end residential facility with exceptional scarcity.
Lucia Cheongdam 546 The River, built with 7 basement levels and 29 above-ground floors, consists of 15 apartment units and 11 residential officetels. The apartments offer 330 square meters of contract area and 136 square meters of exclusive area, while the officetels range from 372 to 526 square meters of contract area and 161 to 221 square meters of exclusive area. The property features specialized amenities such as a fitness center, sauna, and a separate breakfast lounge. In addition, concierge services including housekeeping, laundry, porter service, and valet parking are provided.
In terms of transportation, access to both Gangnam and Gangbuk is excellent via Olympic-daero and Yeongdong Bridge. Cheongdam Station on Subway Line 7 is within a 10-minute walk, and there are various bus routes available. The metropolitan express railway (GTX) is also scheduled to open. The living infrastructure is well established, with Galleria Department Store, Hyundai Department Store, SSG, and Cheongdam-dong luxury street all located nearby.
The design was created by Paul Bae, formerly of the world-renowned architectural firm KPF (Kohn Pedersen Fox). Each floor features a private, full-floor penthouse with exclusive Han River views. Drawing on his experience overseeing the facade design of Lotte World Tower, he infused the property with a sense of sophistication inspired by the shimmering vistas of the Han River.
'Lucia Cheongdam 546 The River,' scheduled for completion in September, has opened its sample house and begun selling the last remaining apartment units. Customers who visited the sample house have praised it, saying, "The Han River view and sense of openness are overwhelmingly grand, and the interior design is extremely satisfying." Currently, reservations for the sample house are fully booked every week, so it is advisable to make a reservation as soon as possible for a viewing.
Additionally, a Lucia sales representative stated, "The price for these final remaining units is highly competitive and attractive, especially considering that prices in Gangnam and around Cheongdam have soared compared to when this product was first launched."
Lucia Holdings Chairman Chae Jiweon commented, "Lucia has the know-how to discover the value of land and enhance it, as well as the detailed sensibility to create an aura of refined taste," adding, "We will continue to take bold challenges through the supply of Lucia residential products and do our best to open a new horizon of residential culture that inspires the world."
Further details about 'Lucia Cheongdam 546 The River' can be found at the Lucia VIP Lounge in Cheongdam-dong.
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