Finished in 1st place…
Panoramic view of an apartment complex in Songpa-gu, Seoul. yunhap news
A large number of uncontracted units occurred in parts of Seoul, where apartment subscriptions are the hottest in the country. Although it finished in first place due to the high competition rate during subscription, it was ultimately held back by the high selling price.
According to Daewoo Engineering & Construction on the 13th, the company posted a notice on its website the day before that it would proceed with a first-come-first-served contract on the 15th for the remaining units of ‘Sangdo Prugio Clavenue’ sold in Sangdo-dong, Dongjak-gu, Seoul last month. Instead of unranked subscription through the Korea Real Estate Board’s subscription website, the company decided to sell on a first-come, first-served basis. Unranked subscription through the subscription homepage discloses the uncontracted quantity, but this cannot be known if sales are conducted on a first-come, first-served basis.
This apartment (771 households), which was redeveloped in Sangdo District 11, Sangdo-dong, finished first in the first subscription last month with 5,626 people flocking to recruit 401 households for general supply, recording an average competition rate of 14 to 1. However, it is said that quite a few winners abandoned the contract. Some say it is only half the amount.
Hoban Summit Gaebong (317 households), which is rebuilding Gaebong District 5 in Gaebong-dong, Guro-gu, also finished first with an average of 25 to 1 in the general sales (190 households) last month, but 70% gave up on contracts, and 72 households were sold on the 16th of this month. Unranked subscriptions are accepted.
Considering that not only has the competition rate for subscriptions been high in Seoul recently, but there have also been cases of early sales even at high sales prices, it is unusual for there to be a series of non-contracts like this. Both places seem to be caught up in the high sales prices. The highest price for Sangdo Prugio Clavenue is 1,031.08 million won for an exclusive area of 59㎡ and 1,393.93 million won for an exclusive area of 84㎡. The selling price of 84㎡ exclusively for Lotte Castle Parkel near Sangdo Station, a complex near the nearby station, is in the mid to late 1.3 billion won, so there is not much difference from the selling price.
The price for an exclusive 84㎡ unit for the opening of Hoban Summit was set at the high 900 million won range. Including the price of various options, it easily exceeds 1 billion won. It is more than 100 million won more expensive than nearby complexes, so it is difficult to expect much profit from the market even if you win. An official in the sales industry said, “Seoul apartments will be sold out as they are flocked from all over the country, but as economic uncertainty such as the recent rise in market interest rates increases, there seems to be an increasing number of cases of giving up on winning the subscription despite restrictions on re-winning.”
Kim Dong-wook Reporter [email protected]
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2023-10-13 04:00:52
#business #high #sales #prices…Series #noncontracts #Dongjakgu #Seoul