2023-07-08 04:46:54
A view of ‘Daechi 2 Complex Apartment’ in Gaepo-dong, Gangnam-gu, Seoul. [한주형 기자]
In the first half of this year, where was the apartment with the highest transaction volume in Gangnam, the richest village in Korea? It wasn’t Eunma Apartment, which had fulfilled its long-cherished desire for reconstruction, nor Dogok Rexle, which boasts a mammoth-sized body. It was an apartment complex in Daechi 2. However, despite the increase in sales volume, the transaction price plummeted, drawing attention from the housing market.
According to Asil on the 8th, the complex with the most sales contracts in Gangnam-gu, Seoul from January to June was counted as Daechi 2 Complex in Gaepo-dong. A total of 71 trades were made. Next came Eunma Apartment in Daechi-dong (67 cases), Dogok Rexle in Dogok-dong (61 cases), and Raemian Forest in Gaepo-dong (38 cases).
Daechi 2 Complex was completed in 1992 and is a large complex with 1758 households. It is mainly composed of small flats with exclusive areas of 33·39·49㎡. The deadline for rebuilding last year passed. Judging that reconstruction is unprofitable, vertical extension remodeling has been promoted, but the project has been stranded without exceeding the threshold of safety review.
Then the price started to fall as disappointment sales poured out. The largest flat, 49㎡, was changed hands on the 10th of last month for 1.297 billion won. It fell more than 450 million won compared to the highest price (1.75 billion won) in October 2021. In January, it fell to 1.1 billion won.
In the case of exclusive 39㎡, the highest price (1.49 billion won) was recorded in September 2021, but it collapsed at 898 million won in January. Then, on the 11th of last month, it recovered to 1.15 billion won. It is interpreted that as house prices fell due to remodeling failures, accessibility improved and demanders flocked.
According to Real Estate R114, the average selling price per 3.3㎡ of apartments in Gangnam-gu last month was 69.88 million won. If this is applied to the exclusive 49㎡, it is regarding 1.4 billion won. It is calculated that the housing price in Daechi 2 Complex is regarding 100 million won cheaper than the average sales price in Gangnam-gu.
Multiple real estate industry officials said, “The administrative district of Daechi 2 Complex is Gaepo-dong, but in fact, it is a good location because it is a living area in Daechi-dong. It is coming out, but there are realistic problems such as floor area ratio and profitability, so it is unknown whether the business will proceed.”
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