2024-04-27 06:04:09
Hongje District 3, Seodaemun-gu, 84㎡ exclusive sale price expected to be 1.5 billion won
“High sales price controversy” 84㎡ exclusively for Dunchon Jugong costs “700 million won”
As construction costs continue to rise, so do the demands for high sales prices.
Panoramic view of Foreon Olympic Park in Dunchon-dong, Gangdong-gu, Seoul. Photo = Hankyung DB Sales prices for apartments in Seoul continue to soar. In Gangbuk, the sale price of an exclusive 84㎡ unit, which constitutes the “national balance”, is expected to reach 1.5 billion won.
According to real estate agency R114 on the 27th, the average sales price for 3.3㎡ apartments in Seoul in the first quarter of this year was 72.45 million won. This is an increase of 93 percent from 37.5 million won in the fourth quarter of last year. However, this can be interpreted as the influence of the “Own Han River” in Gwangjang-dong, Gwangjin-gu, which was supplied for 137.7 million won for 3.3㎡ in January. In the real estate sector, excluding Possess Hangang, the average sale price is expected to be around 40 million won for 3.3㎡.
An official in the sales industry said, “Recently, the average sale price of apartments in Seoul is around 1.2 billion won for an exclusive 84㎡ unit,” and added, “This is an amount which would have been considered a high sale price just a few years ago, but as construction costs increased along with rising capital and labor costs, the sale price also climb. “Now the price is no longer excessive,” he explained.
As sales prices rise, exclusive 84㎡ apartments are expected to be provided for 1.5 billion won in Gangbuk. The Seodaemun-gu Hongje District 3 Reconstruction Association recently revealed the expected general sale price, and the expected price of 30 million won for 3.3㎡ increased to 42.5 million won. The construction cost increased from KRW 5.12 million to KRW 7.84 million per 3.3 m2 due to the soaring prices of atomic ash.
Bird’s-eye view of the reconstruction of Hongje District 3, Seodaemun-gu, Seoul. Photo = Hyundai Engineering & Construction As a result, the general sales price of an 84㎡ exclusive unit is estimated to be over 1.48 billion won. The cooperative estimates that the pre-sale price will increase further depending on the inflation rate. The era of Gangbuk’s national average selling price of 1.5 billion won will begin.
As pre-sale prices in Seoul continue to skyrocket, apartment complexes that were controversial in the past due to their high pre-sale prices have recently increased their transaction prices even more. According to the actual transaction price disclosure system of the Ministry of Land, Infrastructure and Transportation, the exclusive occupancy right of 95㎡ for “Foreon Olympic Park (Dunchon Jugong Reconstruction)” was exchanged for 2.27562 billion won (20th floor) on the 6th, breaking the record. price. Last month, it traded at 2.2182 trillion won (23rd floor), breaking the new all-time high price in just one month.
The exclusive 134㎡ ticket was also sold for 2.95 billion won (8th floor) last month, setting a new record price. The exclusive 156㎡ penthouse was traded for 3,798.24 million won (35th floor) on the 7th. This is the first time that the Foreon Olympic Park penthouse has been marketed. The sale price for union members was around 2.3 billion won, but the price increased by more than 1.5 billion won.
Foreon Olympic Park is a complex that has suffered from unsold sales due to controversy over its high sale price, even when it is sold in 2022. Of the 4,786 households benefiting from the general offer, 899 households were submitted to an unranked subscription last year, and pessimistic predictions were spread on YouTube and other platforms.
At the real estate agent’s office near Foreon Olympic Park in Dunchon-dong, Gangdong-gu, Seoul, there is a notice posted regarding consultation on occupancy rights and pre-sale rights. Photo = News 1 The sales price of an 84㎡ unit exclusively for Foreon Olympic Park was 1.236 billion to 1.3204 billion won. However, ignoring the controversy over the high sale price, this month’s occupancy rights were exchanged for 2.104 billion won (18th floor). The right to move in is a transfer of union membership and you may be required to pay additional membership fees when you move in. Even taking the risk of additional contributions, the amount was regarding 700 million won more than the sale price.
A real estate agent in Dunchon-dong said, “Due to the size of the complex, there are price differences depending on the location, but the asking price of 84㎡ exclusively for Complexes 1 and 3, which are close to the subway station, was regarding 2 billion won. He continued: “Even so, owners are not willing to put their properties up for sale,” adding: “This is because there is a perception that property prices are cheap compared to the recent surge in sales prices.
An industry official said, “Sales prices are repeatedly increasing due to high interest rates, project finance (PF) crisis and rising construction costs. As environmental and safety regulations are tightened, it will not be easy to cope with rising construction costs. As a result, there have been controversies over high sales prices in the past. » “The price is no longer perceived as high,” he said.
Oh Se-seong, Hankyung.com reporter [email protected]
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