[Financial News] Curious about the Seoul apartments that are drawing attention these days? We will break them down for you. Every week from now on, we will visit the apartments that rank No. 1 in weekly views on real estate platforms and analyze their features, strengths, and weaknesses. If there are any additional features you would like us to cover or any areas that need analysis, please let us know in the comments. Kwon Jun-ho's 'Hot Apartments, Weekly Picks' starts now.
On the 14th, the construction site of Yeongdeungpo Summit Clavion in Yeongdeungpo District, Seoul. Photo = Reporter Kwon Jun-ho The apartment featured in the second week of August is Yeongdeungpo Summit Clavion, located in Yeongdeungpo District, Seoul.It drew more than 21,000 views in just one week, making it highly popular. The complex, scheduled for occupancy in 2030, is also set to go on sale soon.
I visited this site, which sits right next to a subway station and has no 84-square-meter units available for general sale. ■ The complex is right outside the subway station... an elementary school is also nearby
On the 14th, Sinpung Station on Seoul Subway Line 7 in Yeongdeungpo, Seoul. Photo = Reporter Kwon Jun-ho As soon as you exit Exit 5 of Sinpung Station on Line 7 on the 14th, the complex comes into view.
It is truly a station-adjacent location, with no need to cross even a single large intersection.The site is large. It took about 14 minutes to walk around it at an adult man's pace. There are many large apartment complexes nearby, and the area seemed quiet and pleasant to live in.
A construction notice is posted at the site.Construction will run for 40 months, from July to November 2029. Daewoo Engineering & Construction will handle the project, and once the redevelopment is completed, it will be reborn as a complex with four basement levels, 29 floors above ground, eight buildings, and 812 households.
Looking around the neighborhood, I also found an airport bus stop.Because construction is underway, a notice says the service is temporarily suspended. Once the route resumes, getting to the airport should be more convenient.
Near Sinpung Station, there are cafes, convenience stores, and restaurants lined up along the street. It is not a so-called 'school-district apartment' built around an elementary school, but Daegil Elementary School, Daeyoung Elementary School, and Daebang Elementary School are all within walking distance. They are all reachable within about 10 minutes at an adult man's pace.
Once the Sinansan Line opens in the future, Yeouido Station will be just three stops away. ■ Sales begin on the 18th... winners will be announced on the 28th
On the 14th, an airport bus stop near Yeongdeungpo Summit Clavion in Yeongdeungpo District, Seoul. Photo = Reporter Kwon Jun-ho So why did this complex rank No. 1 in views?
The biggest reason is that it is about to go on sale.Let's look at the subscription schedule.Special supply applications begin on August 18, followed by first-priority applications for the local area on the 19th and first-priority applications for other areas on the 20th. The winners will be announced on the 28th, and contracts will be signed over three days from September 8 to 10. Korea Real Estate Investment & Trust is overseeing the project. It is also Daewoo Engineering & Construction's first high-end apartment in Singil New Town.
One notable point, however, is that there are no 84-square-meter units in the general sale.Looking at the supply in detail, there are 18 units of 44 square meters, eight units of 49 square meters, and 150 units of 59 square meters. Prices range from 1.3251 billion won to 1.8508 billion won. From what I heard, association members took all of the 84-square-meter units.
Of course, it is not completely impossible to buy one.After checking nearby real estate agencies, I found one association member who had listed an 84-square-meter unit. Including the 1.4 billion won purchase price of the existing home and an additional 650 million won in contributions, about 2.1 billion won would be needed. If a development profit recovery charge is imposed, the amount could rise further.
■ Prices are higher than nearby complexes... expectations are already reflected
On the 14th, the project overview for Yeongdeungpo Summit Clavion in Yeongdeungpo District, Seoul. Photo = Reporter Kwon Jun-ho I was curious how local brokers view this apartment.
Most of them said, "By the time people move in, prices will have risen above the sale price."Its current price is not particularly cheap compared with nearby complexes. In Raemian Estium, a 1,722-unit complex next to Yeongdeungpo Summit Clavion, a 59-square-meter unit sold for 1.7 billion won in May this year. Hillstate Classian, a 1,476-unit complex just above it, saw the same-sized unit trade for 1.75 billion won.
That said, both transactions set record highs, reflecting expectations of further price gains.A local broker said, "Most apartments in this area are about five to 10 years old, so the fact that this is a brand-new complex is definitely an attractive point." The broker added, "If people only hear that the price is 1.8 billion won at first, they say it's expensive. But once they come to the site and look at the nearby complexes, that reaction disappears." Another broker said, "There are not many 59-square-meter apartments in this area that can be bought for under 1.8 billion won," and added, "If you do not own a home, I would recommend applying."
What did you think of Kwon Jun-ho's 'Hot Apartments, Weekly Picks'? If there is any additional information you would like to know, feel free to leave a comment anytime. Feedback is always welcome.[email protected] Kwon Jun-ho Reporter
