Acro Ritz County Perspective, “The ‘Acro Ritz County’, introduced by DL E&C in Bangbae-dong, Seocho-gu, Seoul, has marked the start of a successful first-priority subscription with a high competition rate in special supply applications.”
According to the Korea Real Estate Agency’s subscription home data, on the 9th, Acro Ritz County received 17,349 applications for 69 households, recording an average competition rate of 251.43 to 1. In particular, the first-time applicants saw a competition rate of 671.08 to 1, showing high popularity. This result far surpasses the special supply competition rate of 47.26 to 1 that was set by ‘DH Bangbae’, which was sold in Bangbae-dong in August.
Real estate experts predicted this result. The Acro Ritz County housing exhibition center, which opened on the 6th, quickly filled its reservations, and throughout the day of its special supply, it topped the real-time search rankings on the comprehensive apartment information platform ‘Hogangnono’, continuously drawing attention.
The complex is a prime location in the redevelopment area of Bangbae-dong, with excellent accessibility to Bangbae Station on Subway Line 2, and applies differentiated, innovative designs in line with the value of DL E&C’s high-end residential brand ‘Acro’. Especially as apartment prices soar, the complex’s status as a price ceiling limited complex without an occupancy obligation period has also garnered interest from potential buyers.
Recently, apartment sale prices have hit all-time highs. According to Real Estate R114 data, the sale price per 3.3㎡ of Seoul apartments has increased by 41.25% over the past year. Construction costs have also surged by more than 30% since 2020 (as of September this year, according to the Korea Institute of Civil Engineering and Building Technology), reaching record highs. Mandatory zero energy building certification for apartment complexes of 30 or more units starting next year is expected to inevitably lead to further increases in sale prices.
Amidst these conditions, Acro Ritz County has been offered at a sale price over 800 million KRW lower than the surrounding market rate, maintaining strong price competitiveness compared to newly sold complexes. Ministry of Land, Infrastructure, and Transport transaction data show that a near-located apartment, ‘Bangbae Gran Xai’ (move-in in July 2021), with a dedicated area of 84㎡ was traded at 2.93 billion KRW in October this year, and ‘DH Bangbae’s’ move-in right for a dedicated area of 101㎡, sold in August, was traded at 3.39386 billion KRW in October. Given that higher prices are expected for complexes anticipated to be sold nearby next year, there is a prevailing opinion that this is a good opportunity to enter Gangnam 3 Districts.
A real estate expert stated, “Many are responding by saying they intend to place priority applications since it is possible to lease after move-in, which frees them from financial burdens to some extent and ensures a safe margin as a lottery complex. If you consider Bangbae-dong’s future value, transforming from a traditional wealthy neighborhood to a future wealthy neighborhood, this could be a good opportunity.”
Acro Ritz County will conduct first-priority subscription applications for the local area on December 10. The winners will be announced on December 18, and the formal contract will proceed over three days from December 29 to 31. For general supply, residents of Seoul or those living in Gyeonggi-do and Incheon Metropolitan City, aged 19 or older, who have had a subscription account for more than 24 months, and meet regional and area-specific deposit requirements, can apply for first-priority subscription. Move-in is expected in October 2027.