Sales this week
Lack of supply A large-scale complex in Seoul
‘Scale’ for restoring the subscription market in the metropolitan area
Interested in overcoming high interest rates and pre-sale prices
Subscriptions are accepted at Hwaseong, Gunsan, etc.
In the sales market this week, ‘big fish’ apartment complexes are popping up in Gangnam and Gangbuk, Seoul. ‘Olympic Park Foreon (Dunchon Jugong)’ in Dunchon-dong, Gangdong-gu, which is known as the biggest reconstruction complex since Dangun, and ‘Jangwi Xi Radiant (Jangwi District 4)’, which is considered a good location among Jangwi New Town in Seongbuk -gu, are the main characters. The pre-sale volume of the two complexes alone exceeds 6,000 homes, and the interest of end users who have been waiting for subscriptions in Seoul is hot. However, due to the collapse of the real estate market following a sharp increase in interest rates, the prices of nearby comparison complexes are falling, which is expected to deepen buyers’ struggles.
According to Real Estate R114, a real estate information company on the 4th, a total of 22,007 households in 15 locations across the country receive subscriptions in the second week of December (5th to 9th). Of these, 12,780 households are sold to the public. The most eye-catching complex is the Olympic Park Foreon, a reconstruction of Dunchon Jugong. This apartment, which is a large complex with 12,032 households, is accepting subscription requests for 4,786 households this time. A special supply (1091 households) accepts subscriptions for one day on the 5th. The general supply is 3695 households, and subscriptions are accepted for three days from the 6th.
Foreon Olympic Park was designed with 85 buildings, 3 floors underground and 35 floors above ground. Exclusive area ranges from 29 to 84㎡. The pre-sale price is set at 1.04 billion to 1.0625 million won for 59 square meters and 1.296 billion to 1.32 billion won for 84 square meters by type. In the real estate industry, the popularity of the unique 59㎡ is expected to be particularly high. This is because the government recently expanded the pre-sale price standard for interim payment loans from 900 million won to 1.2 billion won. Since the pre-sale price of 59㎡ is about 1 billion won, the winner can get an interim payment loan. On the contrary, for 84㎡, the pre-sale price is more than 1.2 billion won, making interim payment loans impossible.
However, there is also an opinion that it will not be a big problem because the location is good. Foreon Olympic Park can share the living area with Songpa-gu, one of Gangnam’s 3 districts, and Dunchon-dong Station on Subway Line 5 and Dunchon Oryun Station on Subway Line 9 and Jungang Veterans Hospital Station within walking distance. It is also an advantage that it is the largest complex in the country. There are about 2,500 more households here than Helio City (9,510 households) in Garak-dong, Songpa-gu, which is currently the largest complex.
In Gangbuk, Jangwi Xi Radiant, which is being built as part of the Jangwi District 4 redevelopment project, is receiving special delivery on the 6th and first priority subscription requests on the 7th. The complex consists of 3 floors below ground and 31 floors above ground, with 31 buildings and a total of 2,840 households. Among them, a total of 1,330 units from 49 to 97 square meters are being sold to the public. The sale price is set in the middle range 700 million won for 59㎡ and 900 million to 1 billion won for 84㎡. All types do not exceed the pre-sale price of 1.2 billion won, so interim payment loans are possible. Even the interest on the interim payment was placed on the unconventional condition of deferred payment. Olympic Park Foreon and Jangwizai Radiant are both considered to be one of the best-selling complexes in Seoul this year, but there is an opinion that the box office performance should be watched. This is because apartment prices in Seoul are showing historic declines every week due to the real estate crash caused by rising interest rates.
A man in his 60s who visited the Olympic Park Foreon model house on the 1st said, “Currently, the prices of Jamsil Els, Ricenz, and Trizium are dropping every day, and the asking price for Helio City’s unique 84㎡ also decreased. to 1.65 billion won.” Dunchon Jugong is a new build, but I wonder if other complexes will fall further, and I wonder if I should aim for a quick sale.” Zhang Weizhai Radiant is also in a situation where the price of a nearby complex has fallen below the pre-sale price. A transaction of only 84㎡ for nearby Raemian Jangwi Fore County was made in October at 914 million won, and it’ the current asking price has dropped to 850 million won.
Meanwhile, large-scale complexes in the metropolitan area and provincial areas are receiving subscription requests one after another. Youngmu Construction is selling 569 homes in ‘Yedaum Gunsan New Station Area’ in Naeheung-dong, Gunsan-si, Jeollabuk-do. This flat consists of 7 buildings with 1 basement floor and 25 floors above ground. ‘Oulim Familie (640 households)’ and ‘Summadesiang (616 households)’ will be supplied to Dongtan New Town in Hwaseong, Gyeonggi-do. In Gangwon, ‘Wonju Lotte Castle Signature (922 households)’ comes out.
[이희수 기자 / 이석희 기자]
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