Dongyang Construction Launches 'Sinmokdong Paragon' in Yangcheon-gu, Seoul... 20.6 Million KRW per 3.3㎡

Perspective view of 'Sinmokdong Paragon' in Sinwol-dong, Yangcheon-gu, Seoul (Provided by Dongyang Construction Industry)

[Asia Economy Reporter Lee Chun-hee] Dongyang Construction Industry is opening the model house for 'Sinmokdong Paragon' in Sinwol-dong, Yangcheon-gu, Seoul, and is starting full-scale sales. The average sale price is about 20.6 million KRW per 3.3㎡.

Dongyang Construction Industry announced on the 21st that it will open both the physical model house and the cyber model house for Sinmokdong Paragon on the same day.

This complex, supplied through the Sinwol 4 District reconstruction project, will be built with 5 buildings ranging from 2 basement floors to 18 above-ground floors, totaling 299 households. Among them, 153 units are for general sale. By type, there are ▲59㎡A 18 units ▲59㎡B 15 units ▲74㎡ 72 units ▲84㎡A 30 units ▲84㎡B 18 units.

The sale price is an average of 20.6 million KRW per 3.3㎡. By size, the prices are set as ▲59㎡ 488.6 million to 536.7 million KRW ▲74㎡ 599.3 million to 663.3 million KRW ▲84㎡ 627.4 million to 712.6 million KRW.

Sinmokdong Paragon is evaluated to have various transportation and living infrastructure as well as abundant development benefits. The complex is located within 1 km walking distance from Sinjeong Station on Subway Line 5 and Sinjeongnegeori Station on Line 2. In terms of education, Yanggang Elementary and Middle Schools are located right next to the complex, and it is also easy to access the Mokdong academy district.

In particular, a project to convert the National Assembly Boulevard from Sinwol IC to Yeouido into an above-ground park is underway near the complex, and a large linear park about 7.6 km long is planned to be created.

The physical model house located in Oryu-dong, Guro-gu operates by reservation only to prevent the spread of COVID-19. Accompanying persons are limited to one per applicant, and a maximum of 15 groups can enter per hour. Visitors must wear masks and fill out a health questionnaire and guestbook.

Dongyang Construction Industry also plans to strictly apply quarantine measures by placing hand sanitizers inside and outside, preparing thermal cameras and contactless thermometers at the model house entrance, providing disposable gloves, and ensuring visitors maintain safe distances.

Through the cyber model house, which opens on the same day, various content will be provided, including explanations of the transportation, environment, education, convenience facilities around the complex, and unit layouts by household type.

A sales official said, "With various development benefits and access to Mokdong's education and living infrastructure, and reasonable sale prices, significant price differences compared to surrounding apartments are expected, so inquiries are continuing mainly from actual buyers."

The subscription schedule starts with special supply on the 31st, followed by first-priority subscription on the 1st of next month. Winners will be announced on the 9th of next month, and official contracts will be signed over five days from the 21st to the 25th. The expected move-in month is February 2023.

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