SH, Pre-Reservation for Magok 10-2 Complex 'Half-Price Apartments' Priced Around 300 Million KRW

Pre-Reservation for Magok District 10-2 Complex
Estimated Sale Price About 310 Million KRW... Rent 690,000 KRW

Pre-booking for the 300 million KRW 'half-price apartments' in Magok District, Gangseo-gu, Seoul, will begin on the 16th of next month.

A bird's-eye view of Magok 10-2 Complex, Gangseo-gu, Seoul. [Image provided by SH Corporation]

Seoul Housing and Communities Corporation (SH Corporation) announced on the 26th that it will open pre-booking applications from the 16th of next month for the land leasehold sale housing in Magok District 10-2 Complex (577 households). The supply volume is 260 units (exclusive area 59㎡), of which 80%, or 208 units, will be supplied through special provisions for youth, newlyweds, and first-time homebuyers.

The sale price for the 59㎡ exclusive area in Magok District 10-2 Complex is estimated at 311.19 million KRW at the time of the main subscription, with an estimated monthly land lease fee of 697,600 KRW. According to relevant laws, if the landowner and the housing recipient agree, the land lease fee can be converted into a deposit to enhance convenience for the buyers and reduce housing costs.

Eligibility requires applicants to be members of a household without a home residing in Seoul, Gyeonggi, or Incheon as of the pre-booking announcement date, and they must be subscribers to housing subscription savings (comprehensive housing subscription savings or subscription savings). However, in Magok District, in case of competition within the same priority rank, 100% of the supply will be preferentially allocated to Seoul residents, and any remaining units will be supplied to residents of Gyeonggi and Incheon. The application periods are ▲special supply from October 16 to 17 ▲general supply from October 18 to 19. The announcement of successful applicants is scheduled for November 2. Applications can be submitted online or in person at SH Corporation.

Land leasehold sale housing is a type of sale housing where the public owns the land, and the buyer acquires ownership of the building. Residents can live for 40 years and extend the contract to live up to a maximum of 80 years (40 years + 40 years).

Location map of Magok 10-2 Complex, Gangseo-gu, Seoul. [Image provided by SH Corporation]

Magok District 10-2 Complex is conveniently located between Magok Station and Songjeong Station on Line 5, making public transportation easily accessible. It is 660 meters from Magok Station and 700 meters from Songjeong Station, allowing access to the subway within a 10-minute walk. Additionally, the nearby Airport Railroad provides easy access to Incheon Airport, Seoul Station, and other locations.

The nearby educational environment is also excellent. Within 600 meters of the complex are Gongjin Elementary School (including an attached kindergarten) and Gonghang Elementary School, and within 400 meters are Gonghang Middle School and Magok Haneui Middle School. The nearby Seoul Botanic Park offers various ecological learning programs and provides a pleasant space for residents to enjoy leisure activities.

Kim Heon-dong, President of SH Corporation, said, “We will continue to supply high-quality housing that can be lived in for over a hundred years at reasonable prices,” adding, “In the second half of the year, we will continue to supply land leasehold sale housing, including Magok District 10-2 Complex, to contribute to the housing stability of Seoul citizens.”

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