Jamsil Miseong Clover Redevelopment
Subscription Competition Ratio Reaches Up to 761:1
Lotte Construction has completely sold all 216 units available for general sale at 'Jamsil Le El,' a complex rebuilt from the Jamsil Miseong Clover Apartments in Songpa-gu, Seoul.
Lotte Construction announced on September 30 that it had finalized contracts for all 216 units through the main contract period and the contracts with reserve winners, which were held over three days starting from the 22nd.
Previously, during the special supply on August 29, the average competition rate reached 346 to 1. For the first-priority subscription on September 1, the average competition rate was 631 to 1, with the highest reaching 761 to 1. The expectation of at least a 1 billion won profit margin and the project's rarity have driven strong market demand.
Lotte Construction applied its high-end brand 'Le El' to this complex. The units are primarily south-facing to maximize sunlight and ventilation, while the exterior and landscaping have been specially designed to enhance luxury. The complex is equipped with premium amenities such as an indoor swimming pool, fitness club, golf club, guest house, sauna, and book lounge. A sky community on the upper floors offers city views.
The location is also excellent. Situated at a triple transfer station for subway lines 2, 8, and 9, it provides convenient access to Gangnam and the rest of Seoul. Elementary, middle, and high schools, as well as private academies, are within walking distance, ensuring a superior educational environment. The area is also home to key lifestyle infrastructure such as Lotte World Mall, Jamsil Sports Complex, and Asan Medical Center. Green spaces like Seokchon Lake, Hangang Park, and Olympic Park are nearby, providing a pleasant residential environment.
Large-scale redevelopment projects such as Jamsil Jugong Complex 5 and Jangmi Apartments are also actively underway in the vicinity, which is expected to further increase the area's value.
A representative from Lotte Construction stated, "Jamsil Le El once again proves the competitiveness of the 'Le El' brand, which is reserved for prime locations. Achieving a complete sellout early in a challenging, regulation-heavy market, we will repay our customers' support with sincere construction."
Jamsil Le El consists of 13 buildings, ranging from three basement levels to 35 above-ground floors, with a total of 1,865 units sized between 45 and 145 square meters. Move-in is scheduled for January next year.
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