Subscription Results for Office-tels Divided by Brand... Sewoon Prugio at 34.9 to 1

[Asia Economy Reporter Lim On-yu] The subscription performance of residential income-generating real estate such as officetels in the second quarter showed a significant polarization depending on the brand power of construction companies.

On the 16th, an analysis of subscription information for ‘Officetel/Urban-type Residential Housing’ (excluding public-supported private rental) on the Subscription Home site from April to mid-month revealed that out of 17 project sites, 11 successfully closed subscriptions. Among them, 9 were brand products from major construction companies such as Daewoo E&C, Lotte Castle, and Hyundai Engineering.

Particularly noteworthy was Daewoo E&C’s ‘Sewoon Prugio Hericity,’ which was sold in the Sewoon district, where development is starting for the first time in 14 years. According to the Korea Real Estate Agency’s Subscription Home, this complex, which received subscriptions over two days on the 10th and 11th, recorded an average competition rate of 10.69 to 1 and a maximum of 34.9 to 1.

A sales official explained, “It is highly scarce as it is the first residential product inside the Seoul Four Great Gates area,” adding, “Because it offers not only capital gains but also rental income, it attracted both actual residents and investment demand.” The announcement of winners for Sewoon Prugio Hericity will be on the 17th, with official contracts taking place over two days from the 18th to 19th.

Sewoon Prugio Hericity is located in the Sewoon 6-3 district, at 151-1, Inhyeon-dong 2-ga, Jung-gu, Seoul. This complex will be a mixed-use residential building with 614 units, ranging from 24 to 42 square meters, spanning from 9 basement floors to 26 above ground. The detailed composition includes 281 apartment units and 293 urban-type residential housing units, with the 293 urban-type residential units located on the 16th floor and above being offered first.

This complex is situated with the City Hall, Gwanghwamun, and Euljiro CBD (Central Business District) as its backdrop, where housing supply is scarce. Nearby are headquarters of major corporations and financial institutions such as Daewoo E&C in Eulji Twin Tower, BC Card, KT affiliates, as well as SK Group, Hanwha Group, Hyundai Group, and KEB Hana Bank, providing abundant demand from the surrounding area.

Although it is a small urban-type communal housing, it is located on the top floors, offering excellent views of Namsan and downtown areas such as Myeongdong. Balcony expansion is also provided as standard, increasing the usable area by 30 to 40% compared to officetels with the same exclusive area.

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