[Report] Ahyeon 2 District Purchase and Sale Inquiries Continue... "Expecting a Surge in Perfect Subscription Accounts"

Scheduled for post-sale in October, 53 general units available with rarity
Affordable prices compared to surrounding market like 'Maraepeu'

Construction site of 'Mapo The Classy' in Ahyeon-dong, Mapo-gu, Seoul.

[Asia Economy Reporter Noh Kyung-jo] "There are many inquiries about purchasing move-in rights and general sales. We are basically advising people to apply for the subscription no matter what." (A representative from a real estate agency near Edae Station)

'Mapo The Classy' in Mapo-gu, Seoul (Ahyeon New Town Ahyeon 2 District Reconstruction), which is scheduled for pre-move-in inspection at the end of September and sales in October, is attracting the attention of buyers despite the sluggish real estate market.

When visiting the Mapo The Classy site on the 21st, final construction was in full swing just 5 minutes from Ahyeon Station. As a post-sale complex, Mapo The Classy carries the title of a 'lottery.'

This is because the sale price is expected to be set at about half the surrounding market price. To the left behind Mapo The Classy facing the road is 'Mapo Prestige Xi 2 Complex,' and to the right is 'Mapo Raemian Prugio' (MaraePu), considered the top property in Gangbuk.

These complexes are trading at prices 2 to 3 times higher than their sale prices. According to the Seoul Real Estate Information Plaza, MaraePu's 84㎡ exclusive area units have changed hands for 1.8 to 1.95 billion KRW this year. Currently, listings are priced at 2.1 billion KRW. The sale price of MaraePu in 2014, when it was completed and moved into eight years ago next month, was in the early 700 million KRW range.

The cooperative member sale price for Mapo The Classy's 84㎡ exclusive area was in the 600 million KRW range. The general sale price is expected to be around 900 million KRW. Especially since there are only 53 units available for general sale and the subscription system is 100% point-based, local brokers predict a flood of perfect-score subscription accounts.

A representative from B real estate agency said, "If you win, you can expect a market price difference of over 1 billion KRW," adding, "There is no other comparable sale complex in Seoul in the near term, so competition will be fierce." He continued, "Some are worried that the market situation will not improve soon, but deciding whether you win should be the priority."

Because the general sale volume is so small, some suggest that buying move-in rights or sale rights that occasionally come out as urgent sales is a better option. A representative from C real estate agency near the site explained, "Currently, an 84㎡ unit is on urgent sale for 1.85 billion KRW, and about 50 million KRW adjustment is possible," adding, "From the end of this month, restrictions on resale of move-in rights will be lifted, so inquiries from buyers will increase."

Ahyeon 1 District, which is awaiting the announcement of public redevelopment selection scheduled for the end of this month, is also highly anticipated, comparable to Ahyeon 2 District. Ahyeon 1 District, located between Ahyeon Station, Chungjeongno Station, and Aeogae Station, is also famous as a filming location for the movie 'Parasite.' Directional signs can be seen outside Ahyeon Station.

A representative from B real estate agency said, "Once public redevelopment is confirmed, the premium will inevitably be high in terms of scale and location," adding, "Although the proportion of rental apartments may increase, they also receive floor area ratio incentives, so it is not entirely a bad condition."

However, like Ahyeon 2 District, the general sale volume is expected to be limited. A representative from D real estate agency said, "Some people are worried because public redevelopment is a policy from the previous government," but added, "There are places that must go through public redevelopment due to the nature of the project, and the government will not neglect it from the perspective of urban maintenance."

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