“Acro De Seocho” and “Otierre Banpo” Pre-sales
Over 600 Units for General Pre-sale in Yeongdeungpo
First Raemian Complex to Be Built in Gangseo
The apartment pre-sale market in Seoul is expected to heat up after the Lunar New Year holiday. Around 10,000 units are scheduled to be supplied in Seoul in the first quarter of this year alone, and attention is focusing on prime complexes in Gangnam where capital gains are anticipated.
According to RealToday, a real estate research firm, on February 17, the number of apartment units scheduled for pre-sale in Seoul in the first quarter of this year is 10,175 in total. This is the largest level in the past five years.
First, after the Lunar New Year holiday, during February, “Acro De Seocho” in Seocho-dong, Seocho-gu, Seoul is preparing for pre-sale. Located in an area surrounded by Gyodae Station, Gangnam Station, Nambu Bus Terminal Station, and Yangjae Station, the complex will consist of 16 buildings (4 basement levels to a maximum of 39 above-ground floors), with a total of 1,161 units. The general pre-sale supply will be 56 units with an exclusive area of 59 square meters. The expected pre-sale price is around 1.9 billion won, and successful applicants are projected to gain capital gains of around 1 billion won.
“Otierre Banpo” in Jamwon-dong, Seocho-gu, Seoul is also scheduled to begin subscription in February. This complex is a reconstruction of Shinbanpo 21st, and will be built with 4 basement levels and 20 above-ground floors in 2 buildings, for a total of 251 units. The general pre-sale supply will be 87 units.
“Raemian Ellavine,” which will be offered for pre-sale in the Banghwa-dong area of Gangseo-gu, Seoul, is also scheduled to be released in February. It will consist of 10 buildings in total (3 basement levels to a maximum of 16 above-ground floors) with 557 units, of which 272 units will be offered for general pre-sale. It is close to Sinbanghwa Station on Line 9, and Songjeong Station on Line 5 is also accessible. It is located across from “M Valley Apartment” in Magok, known as the flagship apartment of the Magok area, and will be the first Raemian complex in Gangseo-gu.
“The Sharp Frielra” in Mullae-dong, Yeongdeungpo-gu, Seoul will also go on pre-sale. Of a total of 324 units, 138 units are scheduled to be offered for general pre-sale. In Gyeonggi Province, “Guri Station Highnity River Park” in Guri-si (3,022 units in total, 1,530 units for general pre-sale) is scheduled to open its model home on February 27 and fully launch its pre-sale schedule.
“Jangwi Prugio Mark One” in Jangwi District 10 of Seongbuk-gu will have a total of 1,931 units, and around 1,000 of these are expected to be supplied through general pre-sale. Its strong points include convenient access to Dolgoji Station on Line 6 and to the Northern Arterial Road. Among the Seoul pre-sale complexes in the first quarter of this year, it has secured the largest number of units for general pre-sale.
Recently, for complexes that are not subject to the pre-sale price cap system, pre-sale prices are being set at levels that are almost the same as, or slightly higher than, surrounding market prices. In the case of Seoul, under the October 15 real estate measures (10·15 real estate measures), loans are limited to 400 million won for apartments priced over 1.5 billion won, and to 200 million won for apartments priced over 2.5 billion won. Since it is also impossible to cover the remaining balance by moving in tenants, prospective buyers are expected to need to establish their financing plans in advance before applying for subscriptions.
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