The speed of rebuilding 40-year-old Yeouido cotton The price was 1.8 billion won

Mokhwa Apartment in Yeouido-dong, Seoul, which passed the detailed safety examination for reconstruction. Reporter Bae Jeong-cheol

The reconstruction of the Yeouido area, where apartments over 30 years old are concentrated is accelerating. Born in 1977, Mokhwa Apartment in Yeouido-dong, Seoul (312 households) passed the final reconstruction precision safety check. The adjacent Miseong and Galactic apartments recently passed a preliminary safety check (field survey) to promote reconstruction. Prices are also strong in anticipation of reconstruction. It is pointed out that Seoul, which is effectively preventing the reconstruction of Yeouido, is a variable.

14 complexes passed safety examination

According to the Yeongdeungpo-gu Office on the 26th, the cotton apartment that applied for the detailed safety diagnosis last year received the lowest grade E grade (defective) in the adequacy review and finally passed the detailed safety diagnosis. The precise safety diagnosis is divided into grades A to E. If you receive a grade of D or less, it has been proven that the’building structure is not safe’, and you can promote reconstruction.

Yeouido is home to the oldest apartment complexes in Seoul. According to the Yeongdeungpo-gu Office, 14 of the 16 apartments in Yeouido-dong (91 buildings, 8086 households) received grade D or lower in the detailed safety examination and are undergoing reconstruction. On the 12th, two complexes of Miseong (577 households) and Eunha (360 households) passed the preliminary safety checkup, which is the preliminary stage of the detailed safety checkup for reconstruction.

Among the 16 complexes, most of the Yeouido demonstrations (completed in 1971, 1791 households), Sambu (completed in 1975, 866 households), and plazas (completed in 1978, 744 households) passed the safety examination gates in 2017-2018.

Prices are also rising. The 89㎡ cotton area was traded at 1.59 billion won on the 28th of last month, and the current price jumped to 1.8 billion won. On the 24th of last month, 121m2 for Galaxy only traded at 1.95 billion won. In July of last year, the sale price (1.78 billion won) increased by 170 million won. The 92 ㎡ exclusively for children was also traded at 1.6 billion won in July last year, and was changed to 1.63 billion won last month, increasing by 30 million won. A K-accredited official in Yeouido-dong explained that “there is a lot of recognition that the property is undervalued compared to other areas such as Mapo,” saying, “The landlords are collecting the property while passing the reconstruction safety check.

Variables for deregulation in Seoul

When the reconstruction of Yeouido is underway, the old apartments with 8,000 households in this area will be converted into a new complex. It is also a good news that Hyundai Department Store will be built along with Yeouido Park One. The Sinansan Line, which connects Ansan and Yeouido, is scheduled to open in 2024.

The reconstruction of Yeouido has completely ceased after 2018. The city of Seoul planned to announce the Yeouido Master Plan (Integrated Development Plan) in 2018. However, the Yeouido development plan by raising the usage area was put on hold because it encouraged the increase in house prices. The city of Seoul later put on hold projects such as pilot apartments, saying, “We are working on a master plan, so we cannot approve the reconstruction plan for individual complexes.”

Because of this, complaints from residents are accumulated and the risk of safety accidents is increasing. It is evaluated that the residential environment is so poor that the residents of the pilot apartments write and distribute a’safety accident white paper’. Neighboring schools and parks are also not undergoing renovations or repairs with the reconstruction and maintenance projects in mind. This is why many criticize that it is unreasonable that Seoul City prevents Yeouido from rebuilding.

There is high hope that the situation may change after the Seoul Mayor’s by-election in April. This is because the candidates for the mayor of Seoul are pledges to ease regulations on maintenance projects. An official from the Yeouido Reconstruction Promotion Committee complained, “It’s an old apartment 40 years after completion, so residents are very anxious.”

“Reconstruction projects such as Yeouido, Apgujeong, and Yongsan will raise house prices in the short term, but will eventually lower prices by increasing supply,” said Professor Shim Gyo-eon of Konkuk University. .

Reporter Bae Jeong-cheol [email protected]