‘Godukgangil Jeil Punggyeongchae’ (perspective view), which is being sold for the first time in Seoul this year, receives an application for subscription at the beginning of next month. It is actually the last complex to bypass the application of the so-called’pre-rental rent prohibition law’, which imposes a duty to live in apartments subject to the ceiling on sale price. Some housing types have controversy over high pre-sale prices, such as no intermediary loans due to pre-sale prices exceeding 900 million won. However, since the pre-sale in Seoul is so rare, competition for subscription is expected to be fierce.
500 million won cheaper than the nearby market price
According to the pre-sale industry on the 19th,’Godeokgangil Jeil Punggyeongchae’, which entered the first block of Godeokgangil 1 district, Gangdong-gu, Seoul, issued a tenant recruitment announcement on the 18th and entered the full-scale sale schedule. This is the second private sale apartment in the Godeokgangil District, the last public housing in Seoul. Starting with the special supply on the 3rd of the following month, the 1st order subscription application is received on the 4th. The winners will be announced on the 12th of next month.
The complex consisted of 780 households, 6 buildings with 2 floors below the ground and 27 floors above the ground. 561 units with exclusive area of 84㎡ and 219 units with exclusive 101㎡ area are eligible for sale. It is a 15-minute walk from Sangil-dong Station of Subway Line 5. Transportation conditions are expected to improve further when Samteo Park Station (scheduled), which is an extension of Line 9, opens in 2027. Waterside Park, Godeokcho, and Godeok Middle School are nearby. The move-in is scheduled for January 2024.
Some point out that the pre-sale price is too expensive despite the application of the pre-sale price cap. The average sale price per 3.3㎡ of this complex was set at 24.3 million won. The sales price of 84m2 for exclusive use is 814.7 million to 899.90 million won, and for 101m2 for exclusive use, 956.4 million to 1,0860.6 million won. In particular, the exclusive 101㎡ has a pre-sale price exceeding 900 million won, and there is no intermediate payment loan. At the end of last year, the pre-sale price of Hillstate Leashville Gangil, sold in the Godeok Gangil District, per 3.3m2 was 22.3 million won, and the pre-sale price of all housing types was less than 900 million won.
Still, it is evaluated as a’lotto sale’ which is more than 500 million won cheaper than the market price of nearby apartments. The selling price of 84㎡ for exclusive use of the nearby Godeok Lien Park Complex 1 is 1.25 billion to 1.4 billion won. Compared to new apartments such as Godeok Grasium and Godeok Arteon near Godeok Station or Sangil-dong Station, the price difference is larger.
Here, it is the last apartment in which it is possible to rent a jeon or rent right after moving in, attracting the interest of prospective subscribers. For apartments with a limited sale price limit that publishes a tenant recruitment announcement after the 19th, an actual residence duty is imposed. In the case of public housing, if the sale price is less than 80% of the nearby market price, it is mandatory to live for 5 years, and for less than 80-100%, 3 years. It means that you cannot cover the balance by receiving the jeon tax at the time of moving in.
If the subscription point is low, it is worth looking at the lottery system.
Low-priced players with low subscription points will also be given a chance to win. For quantities exceeding 85㎡ for exclusive use, 50% will be allocated as a lottery regardless of additional points. It means that half of the exclusive 101㎡ pre-sale will be released by lottery. Of the lottery volume, 75% will be allocated first to homeless people, and the remaining 25% will be given an opportunity to the existing housing disposition conditioner among one homeowner.
For the first time in life, 76 households were also allocated special supplies. In accordance with last year’s ‘7·10 measures’, a special service was newly established for the first time in private housing. The winners are selected through a lottery regardless of additional points for married or homeless people with children. From this month, income requirements are eased, and monthly income of 8.88 million won (average monthly income of urban workers is 160%). Newlyweds’ special job is also possible up to 160% of monthly income.
There is a prospect that the demand for subscription will not be small in the industry. At the end of last year,’Hillstate Leishville Kangil’ recorded an average of 256-1 competition, with 11,7035 people flocking to recruit 458 households, excluding special workers. The lowest point to win was 64 points, and the perfect score (84 points) among the winners came out. Jae-Hyun Jang, head of Real Today Research Division, said, “It is not very close to the subway station, but it is the last complex that can be financed with charter money, so the subscription fever will be even hotter.”
Reporter Shin Yeon-soo [email protected]