- The Rush for Unsold Prime Apartments in Seoul Intensifies
- Premium Small-Sized Apartment 'Gangdong The Arteon' Near Subway Station Draws Attention with Unsold Unit Offering
Recently, there has been a surge in applications from genuine homebuyers for unsold apartment units in Seoul. As housing supply in Seoul remains insufficient compared to demand, more buyers are seeking to secure a prime property before it is too late. Additionally, growing expectations for interest rate cuts starting in the second half of the year are contributing to increased competition for remaining unsold units.
An industry insider commented, "As polarization in the housing market intensifies, demand in the real estate market is increasingly concentrated in Seoul. Given the ongoing rise in raw material prices and the current trend of interest rate cuts, it is wise to seize the opportunity to acquire a well-located apartment near a subway station in Seoul before it becomes even more difficult."
In fact, unsold apartment offerings in Seoul have been recording high competition ratios and are proving popular among buyers.
In June, 1,246 applicants competed for 109 unsold units at 'Hillstate Mediale' in Eunpyeong-gu, Seoul, resulting in an average competition ratio of 11:1. At 'Granz River Park' in Gangdong-gu, 863 people applied for just 3 units. Other notable competition ratios include 101:1 for 'SI Palace Olympic Park' in Seongnae-dong, Gangdong-gu, 69:1 for 'Urban Classe Mokdong' in Yangcheon-gu, and 9.8:1 for 'Avenue Cheonggye 2' in Jongno-gu.
In July, the small premium apartment 'Gangdong The Arteon' in Gangdong-gu, Seoul, announced its unsold unit offering on July 7, with applications being accepted on July 14.
This development is a rare and high-value small apartment near a subway station in Seoul, expected to attract strong interest from both genuine buyers and investors. The complex consists of a single 59-square-meter unit type, spanning from two basement levels to 17 above-ground floors, which is popular among actual homebuyers. It features three bedrooms, two bathrooms, a living room, and a kitchen, and incorporates a highly desirable 4-bay specialized design.
'Gangdong The Arteon' is within walking distance of Gubeundari Station on Subway Line 5. Currently, a direct connection project is underway between Gubeundari Station and Dunchondong Station, which will eventually allow travel to Dunchondong Station, Bangi Station, and Ogeum Station without transfers. The Phase 4 extension of Subway Line 9, connecting Jungangbohunbyeongwon Station to Godeokgangil District 1 over approximately 4.1 kilometers, is under construction with the goal of opening in 2028.
The area offers abundant lifestyle infrastructure, including Gangdong Sacred Heart Hospital, the Community Center, Godeok Biz Valley, Gangdong Advanced Business District, Emart, Homeplus, NewCore Factory Outlet, Cheonho-dong Rodeo Street, Hyundai Department Store, and Bokjori Market. Residents can also enjoy leisurely walks and exercise at Gildong Park and Gildong Ecological Park, both within a 10-minute walk.
In particular, the unsold unit application for 'Gangdong The Arteon' is open to non-homeowners nationwide, further increasing interest among potential buyers.
A sales representative stated, "Anyone can apply for unsold units without a subscription savings account, and since winners are selected by lottery, there is a chance for a lucky draw. With its excellent location and product appeal, we expect the offering to close with high competition."
Meanwhile, Gangdong The Arteon is being developed and constructed by Able PNG Co., Ltd., with Mugunghwa Trust Co., Ltd. serving as trustee. The housing exhibition center is located near Cheonho Station.
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