Dunchon Jugong Temporarily Avoids Pre-sale Price System... Application for Resident Recruitment Completed
Association "To Hold General Meeting to Decide HUG Sale Price VS Sale Price under the Pre-sale Price System"
HUG Sale Guarantee 29.78 Million KRW per 3.3㎡
[Asia Economy Reporter Onyu Lim] The Dunchon-dong Jugong Apartment Reconstruction Association in Gangdong-gu, Seoul, applied for the resident recruitment announcement on the 27th, thereby temporarily avoiding the private land price ceiling system. The association plans to hold a general meeting in September to allow members to choose the more favorable option between the Housing and Urban Guarantee Corporation (HUG) price and the price under the price ceiling system.
On the 28th, the Dunchon Jugong Reconstruction Association announced that it had completed the application for the resident recruitment announcement to Gangdong-gu Office the previous day, with a sale price of 29.78 million KRW per 3.3㎡. The association had received a sales guarantee certificate from HUG on the 24th. An association official said, "By completing the application for the resident recruitment announcement by July 28, we were able to avoid the price ceiling system."
The association plans to hold a general meeting on September 5 to allow members to compare the HUG price and the price under the price ceiling system. Currently, some members oppose the HUG-guaranteed price and advocate for post-sale, among other options. An association official said, "Once the land price appraisal requested on the 16th is completed, we will immediately calculate the price under the price ceiling system, including construction costs, inform the members, and enable comparison with the HUG price."
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At this general meeting, a resolution will be made to either proceed with general sales at 29.78 million KRW per 3.3㎡ if the HUG price is favorable, or automatically discard the HUG price if the price under the price ceiling system is more advantageous.
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