Banpo One Bailey 56.6 million won per pyeong…

The site of the 3rd Sinbanpo/Gyeongnam Apartment Reconstruction Complex (Raemian One Bailey), Banpo-dong, Seocho-gu, Seoul. [연합뉴스]

The general pre-sale price of’Raemian One Bailey’ (Shinbanpo 3rd, Gyeongnam apartment reconstruction) in Banpo-dong, Seocho-gu, Seoul, was determined to be about 56.6 million won per 3.3㎡. According to the Seocho-gu Office on the 8th, Raemian One Bailey was approved by the Seocho-gu pre-sale price review committee at 56,668,6349 won per 3.3 square meter.

This is the highest level among general sale prices for apartments in Seoul. Although the ceiling on the sale price of private residential land was applied, it was 16% higher than the sale price (48.91 million won per 3.3㎡) calculated by the Housing and Urban Guarantee Corporation (HUG) last year. At that time, the members could not accept the pre-sale price of HUG, so the cap was applied.

Aerial view of Raemian One Bailey[Photo by Samsung C&T]

The market predicted that if the cap was applied, the price would fall 10-20% from the pre-sale price calculated by HUG. However, different results came out. It is interpreted that as a result of the increase in the land appraisal amount as the publicly announced land price in Seoul has recently soared, the pre-sale price ceiling system has rather benefited.

In the case of this complex, after deliberation by the Korean Appraisal Board, the land cost was set at 42 million won per pyeong. Subsequently, the Seocho-gu Sales Price Deliberation Committee set the construction cost at 14.68 million won per pyeong. Based on the supply area of ​​33 pyeong (84㎡ for exclusive use), the pre-sale price is 1.9 billion won, which is 60% of the surrounding market price (3.1 billion to 3.7 billion won). Resale of pre-sale rights is limited for 10 years.

Out of a total of 2,990 households in Raemian One Bailey, 224 households excluding the number of members will be sold in general. The union plans to enter general sales in March this year. In the maintenance industry, as a result of this, the Gangnam reconstruction cooperatives, which delayed the project to avoid the pre-sale price ceiling, are expected to rush to the project. In fact, it is an analysis that the government’s price control has been neutralized. Currently, in Seoul, Gangdong-gu Dunchon Jugong Apartments, Sinbanpo 15th (Raemian Onepentas), and Sinbanpo 4th District (Shinbanpo Maple Xi) are facing pre-sale through the pre-sale price limit system.

Reporter Han Eun-hwa [email protected]