In May, Record-High Volume of Redevelopment and Reconstruction Projects to Be Released

Perspective view of 'Raemian Elinity' in Yongdu-dong, Dongdaemun-gu, Seoul (Provided by Samsung C&T)

[Asia Economy Reporter Lee Chun-hee] It has been surveyed that the largest-scale redevelopment and reconstruction pre-sales in history will take place this month.

According to Real Estate 114 on the 6th, a total of 24 redevelopment and reconstruction complexes with 21,772 households (10,007 households for general sale) are scheduled for pre-sale nationwide this month. By project type, there are 14 reconstruction complexes with 15,596 households and 10 redevelopment complexes with 6,176 households. This is the largest volume since the survey began in 2000. It is about 3,000 households more than the previous monthly record of 18,914 households in June 2005.

Kwon Kang-soo, director of Korea Startup Real Estate Information Center, analyzed, "As social distancing measures have been eased, the volume that was delayed due to the spread of COVID-19 and the general election is coming out all at once. Especially in Seoul and the metropolitan area, as the expanded implementation of the private land price ceiling system approaches the end of July, prime properties are being released quickly."

Perspective view of 'Gwangmyeong Prugio Centver' in Gwangmyeong-si, Gyeonggi Province (Provided by Daewoo E&C)

Looking at the regions, in Seoul, a total of nine redevelopment and reconstruction complexes, including Heukseok 3 District in Dongjak-gu, Yongdu 6 District in Dongdaemun-gu for redevelopment, and Sinbanpo 13th and Jayang 1 District in Seocho-gu and Gwangjin-gu for reconstruction, are scheduled for pre-sale. Heukseok 3 District, which will be sold under the brand 'Heukseok River Park Xi,' will be developed with 26 buildings ranging from 5 to 20 floors above ground, with 1,772 households sized 39 to 120㎡ (exclusive area). Among them, 357 households are for general sale. Yongdu 6 District ('Raemian Elinity') consists of 16 buildings ranging from 2 basement floors to a maximum of 21 floors above ground, with 1,048 households. Among them, 477 households sized 51 to 121㎡ are for general sale.

Outside Seoul, where a total of nine complexes are planned for pre-sale, a large complex will be built in Gwangmyeong City, Gyeonggi Province. 'Gwangmyeong Prugio Centber,' redeveloping Gwangmyeong New Town 15 District, is scheduled for pre-sale with 12 buildings ranging from 3 basement floors to a maximum of 37 floors above ground, with 1,335 households sized 36 to 59㎡. Among them, 464 households are allocated for general sale.

In addition, six complexes in the provinces are also preparing for pre-sale, including Yangjeong 2 District in Busanjin-gu, Busan ('Yangjeong Forehills Switzen') with 1,338 households (762 for general sale), and Naun Jugong 2 Complex reconstruction in Gunsan City, Jeonbuk ('Naun Kumho Eoullim Central') with 993 households (392 for general sale).

This content was produced with the assistance of AI translation services.