Apartel that is easy to borrow and does not require a subscription passbook… 100 million premium on the reported price

Although it is an officetel, a residential officetel (apatel) designed like an apartment is rising in popularity in the sale and sale market.

According to the public system of the actual transaction price of the Ministry of Land, Infrastructure and Transport on the 29th, the exclusive area for an officetel called Tower Palace in Dogok-dong, Gangnam-gu, Seoul, was sold at a record high of 3.15 billion won (4th floor) on the 31st of last month.

This is an increase of 366 million won from the same area sold at 2.78 billion won (15th floor) on July 27 last year.

The 79.86㎡ dedicated to the same complex was also traded at 1.65 billion won (5th floor) on the 12th of last month, up 150 million won from the 1.5 billion won (6th floor) transaction price of a similar area (79.04㎡) last September.

103.71m2 for’Mokdong Paragon’, an apartel located in Mok-dong, Yangcheon-gu, Seoul, was first traded for 1.6 billion won (11th floor) in October last year, and then sold for 1.65 billion won (19th floor) on December 18 of the same year. The highest price of all time was changed.

The exclusive 95.24㎡ also recorded a reported price of 115 million won, higher than the 1.45 billion won recorded on the 9th of the same month, while writing a sales contract for 1.65 billion won on the 16th of last month.

In addition to Seoul, Apatel with an exclusive 84㎡ of over 1 billion won is appearing one after another.

The 84.61㎡ for the officetel of `Wirye Gwell Prugio` in Hanam-dong, Hanam-dong, exceeded 1 billion won for the first time last month, and sold for 1.1 billion won earlier this month. Subsequently, the trading price reached a record high of 1.25 billion won on the 15th (8th floor) and 23rd (29th floor).

‘Hillstate Ilsan’ in Daehwa-dong, Ilsanseo-gu, Goyang-si, and’Gwanggyo Jungheung S-Class’ in Woncheon-dong, Yeongtong-gu, Suwon-si, also posted an all-time high of 1,040 million won and 1.30 billion won, respectively.

Apartel, which has a structure similar to an apartment, such as two or three rooms, a living room, and a kitchen, is an officetel, so various regulations such as loans and subscriptions are relatively freer than apartments.

There is no need for a subscription passbook, and the sale price is relatively lower than that of an apartment.

As for the loan regulation, for apartments, the mortgage recognition ratio (LTV) is only available for 40% of overheated areas and 50% of areas subject to adjustment. Apartments in excess of 1.5 billion won in speculative and overheated areas do not receive a mortgage loan at all, and LTV exceeds 900 million won.

On the other hand, officetel can receive up to 70% regardless of market price.

As such, it can be interpreted that Apatel has soared in popularity as its price has skyrocketed and emerged as a substitute for highly regulated apartments based on facilities that are not very different from apartments and relatively free from regulation.

The popularity of Apatel is also striking high in the pre-sale market.

‘Pangyo Valley Xi’ officetel, the last private sale complex in Seongnam-si, Gyeonggi-do, recently recorded an average competition rate of 232 to 1 as a result of its recent subscription, which is about four times the average subscription rate of apartments in the same complex (64 to 1).

In particular, the 3rd complex, which can be sold in less than 100 rooms and reselled immediately after the contract, exhibited a competition rate of 834:1.

Currently, the pre-sale right premium of this complex is formed at 150 million won.

The representative of a real estate agency operating near this complex said, “Even though the officetel is sold at a higher price than the apartment, inquiries about the purchase of sales rights come in. Normally, chopi (initial sales rights premium) is the cheapest, so the premium is higher after the down payment is finished. It will be,” he explained.

According to Real Today, a research firm specializing in real estate subscriptions and homes for the Korea Real Estate Agency, the subscription competition rate for residential officetels over 59 square meters sold in the metropolitan area last year was 34.3 to 1 on average. This is similar to the average subscription competition rate for apartments in the metropolitan area last year (36.3 to 1).

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