This week, a total of 6,878 households across the country are accepting applications, including the much-anticipated ‘Raemian Trini-One’ in Banpo-dong, Seocho-gu, Seoul, often called the ’30-billion-won lottery.’ Despite the expected substantial profit margin, only those with over 2 billion won in cash are likely to apply.
According to real estate research firm Real Today, from November 10 to 14, applications will be accepted in 14 locations nationwide. The most notable development is the ‘Raemian Trini-One,’ a redevelopment of Banpo Jugong Apartment Complex 1, Zone 3. The complex comprises 17 buildings, ranging from three basement levels to 35 floors above ground, with a total of 2,091 households. Out of these, 506 units with exclusive areas of 59 or 84 square meters are designated for general sale.
The selling price per 3.3 square meters, based on the supplied area, is 84.84 million won, the highest ever among price-capped complexes. The 59㎡ units are priced in the 2.1 billion won range, and the 84㎡ units are in the 2.7 billion won range. In the nearby ‘Raemian One Bailey,’ recent transaction prices for a 59㎡ unit reached 4.25 billion won, and 6.5 billion won for an 84㎡ unit.
Despite the expected profit of 2 to 3 billion won, substantial financing is necessary. The down payment is 20%, not 10%, and the interim loan covers only 40% of the selling price. Therefore, 40% of the selling price must be paid in cash by June next year, and the balance is due by August next year, as it is a post-sale complex. After the October 15 measures, if the price exceeds 2.5 billion won, the loan is limited to 200 million won. Since the basis for the balance loan is the appraised value at the time, rather than the selling price, loans for both 59㎡ and 84㎡ units are likely to be only 200 million won. Additionally, residents must move in within six months.
To pay off the balance with the tenant’s deposit, interim loans should not be used, and tenants cannot receive a deposit loan. After completion, a mandatory occupancy period of three years is imposed.
In Gyeonggi-do, ‘E-Life Hansin The Hue Suwon’ in Dangsu District, Suwon, is being supplied. The complex consists of C3 and D3 blocks with two basement levels and up to 23 floors above ground, with exclusive areas ranging from 74 to 120 square meters, totaling 1,149 households. The 84㎡ units are priced in the 790 million won range. In the provinces, ‘Doryong Jai La Peak’ in Yuseong-gu, Daejeon, is being sold. The complex has three basement levels and 26 floors above ground, with four buildings totaling 299 households, all available for general sale. The 84㎡ units are priced in the 1.4 billion won range.
[Reporter Lee Seok-hee]