Real estate industry “successful investment rather than speculation”… Park Hyung-jun, owning alone is inevitable to damage the image

Real estate industry “successful investment rather than speculation”… Park Hyung-jun, owning alone is inevitable to damage the image

[4·7 쟁점 현미경] Owned by candidate Hyung-jun Park, L-City

Input: 2021-03-17 19:31:29Revision: 2021-03-17 19:48:18Published: 2021-03-17 19:33:30 (p. 03)

In addition, the Democratic Party is raising the issue of the ownership of L City (LCT) by the family of candidates for the Busan Mayor Park Hyeong-jun by-election as the biggest issue in this election. The Democratic Party initially made a problem with candidate Park’s preferential sale, but turned the offensive point to’speculation’ when a’smoking gun’ that could confirm illegality did not come out. It is interpreted as a strategy to stimulate the public sentiment of Busan citizens in connection with the speculative situation of the employees of the Korea Land and Housing Corporation (LH), who are thinking of public resentment.

Democratic Party’s’preferential → speculation’ turn offensive

Real Estate Broker “When to purchase Candidate Park

When there were a lot of high evaluation opinions of L City”

The gist of the allegations raised by the Democratic Party is that candidate Park’s spouse and daughter acquired the L-City royal family at a lower price than the market price through an unrecognized process, and considering the current market price, all of the Park’s family members earned a price margin of about 4 billion won. It is as obvious speculation as it has become.

On April 10 last year, Candidate Park and his wife bought 75 pyeong of L-City low-rise building for 2.15 billion won with a premium of 100 million won. Previously, candidate Park’s daughter paid a premium of 5 million won to the pre-sale winner after the pre-sale contract and purchased it for 2,111 million won. Candidate Park’s family acquired apartments on the upper and lower floors of the same building and on the same line side by side. The L-City Building B Line 3, owned by Candidate Park’s family, is considered the most preferred type because it provides a permanent view of Gwangan Bridge. However, because it is a low-rise woman, it is not included in the royal floor due to interference from the view of a nearby building. In L City, the 20th to 40th floors are usually considered the royal floor.

Candidate Park’s daughter paid a premium and purchased the right to pre-sale after the first sale contract date of L City. According to real estate brokers around L City, at the time, due to the large amount of unsold items,’minus blood’ even appeared.

In April of last year, when the couple bought an apartment, the premium of the same balance was formed up to 300 million won. It is said that the sellers who felt burdened with the payment of the intermediate payment sometimes offered up quick sales. According to the actual transaction price data from the Ministry of Land, Infrastructure and Transport, in April of last year, the 75 pyeong of L-City was traded at 2.15 billion won to 2.65 billion won, and then fell to 2 billion won the following month. A realtor said, “Considering that it is low-rise, it can be said that the couple bought 100 million won cheaper than the market price, but it is difficult to view this as a special transaction beyond the normal range.”

Currently, these apartments have a market price of 3.5 to 4 billion won. Assuming that candidate Park and his wife are selling for 4 billion won at this point, they can enjoy a margin of 1.35 billion won after deducting 850 million won of taxes, such as capital gains tax and local income tax. However, the public opinion is that it is unreasonable to see illegal speculation by LH executives and employees who purchased farmland by obtaining internal development information in advance and the acquisition of an apartment by one household and one homeowner for the purpose of living on the same line.

Another realtor said, “The market price of L-City has soared sharply from September of last year. At the time Candidate Park purchased the apartment, the negative opinion that L-City was overvalued was unclear enough for investment. As a result, it may be a successful investment, but it seems excessive to drive it into speculation.”

However, for Candidate Park, the negative image of L City, which was branded as’preferential and corrupt apartments’ due to prosecution investigations, made it inevitable to damage the image just by owning it.

Reporter Park Tae-woo wideneye@