‘The Sharp Dunchon Foret’ Price Competitiveness Draws Attention

Seoul Private Apartments of National Standard Size Increase by 200 Million Won in One Year

[Construction Company POSCO E&C, 'The Sharp Dunchon Foret' Perspective View]

Recently, apartments with strong price competitiveness have been attracting the attention of homebuyers in the housing market. As soaring pre-sale prices and high interest rates increase the burden of interest payments, demand is shifting toward places with even slightly lower price burdens.

According to the 'January Private Apartment Pre-sale Price Trends' announced by the Housing and Urban Guarantee Corporation (HUG), the average pre-sale price of private apartments in Seoul recorded 37.07 million KRW per 3.3㎡. Compared to the pre-sale price in January last year (30.63 million KRW), this is a 21.03% increase in just one year. When converted to the so-called national standard apartment size, the pre-sale price has surged by about 200 million KRW.

Moreover, the upward trend in pre-sale prices is expected to continue for the time being. This is due to ongoing increases in construction costs such as raw material prices and labor costs, as well as the low likelihood of interest rate cuts.

Ultimately, the success of the pre-sale market is also greatly influenced by price competitiveness. In fact, last month, the 'Maple Xi' in Jamwon-dong, Seocho-gu, Seoul, recorded an average competition rate of 442 to 1 with 35,828 applicants for 81 units in the first priority subscription. The biggest factor behind its popularity was that the pre-sale price was lower than the surrounding market prices due to the application of the pre-sale price ceiling system.

Given this situation, 'The Sharp Dunchon Foret' in Dunchon-dong, Gangdong-gu, Seoul, which begins its official subscription schedule starting with special supply on the 11th, is also expected to create a subscription frenzy.

'The Sharp Dunchon Foret' is a project that remodels the Dunchon Hyundai 1st Apartment, offering units with an exclusive area of 84㎡ at prices ranging from 1.2 to 1.3 billion KRW, which is very reasonable compared to nearby properties.

In fact, the neighboring complex Olympic Park Foreon (Dunchon Jugong), which is expected to be ready for occupancy as early as this year, set a new record last December with the highest prices of 1.98 billion KRW for 84㎡ units and 1.64333 billion KRW for 59㎡ units. The 59㎡ units in this complex are 300 to 400 million KRW more expensive than the 84㎡ units in The Sharp Dunchon Foret. When compared on the same floor area, the price difference is as much as 700 million KRW.

Among buyers, there is a growing consensus that choosing the 84㎡ units in 'The Sharp Dunchon Foret' is more advantageous than opting for the 59㎡ units in Olympic Park Foreon. Since 'The Sharp Dunchon Foret' also has significant potential to rise to the level of surrounding market prices, it is expected to yield high capital gains in the future.

Furthermore, the location and product value of 'The Sharp Dunchon Foret' are excellent. Firstly, the location is convenient. The complex is about a 5-minute walk from Jungang Veterans Hospital Station on Subway Line 9, and access to major roads such as Gangbyeonbuk-ro and Olympic-daero is easy. It is also close to Gangil IC, Sangil IC, and Seo Hanam IC, facilitating access to the Seoul-Yangyang Expressway, Metropolitan Area 1st Ring Expressway, and Jungbu Expressway. The Seoul-Sejong Expressway (scheduled for 2025) and the Line 9 extension (scheduled for 2028) are also planned to open.

Within a 5-minute walking distance are elementary, middle, and high schools including Dunchon Middle School right in front of the complex, Seonrin Elementary School, and Dunchon High School, creating a safe one-stop school commute environment. Prestigious schools such as Paichai High School and Han Young Foreign Language High School are also nearby, providing access to a premium school district.

The environment is also exceptional. Iljasan Urban Natural Park, located right in front of the complex, features various parks and recreational facilities including the Herb Astronomy Park, Gangdong Greenway, family camping site, indoor gymnasium, walking trails, and artificial waterfalls. Olympic Park, Gildong Ecological Park, Gildong Park, Myeongil Neighborhood Park, and Gwangnaru Hangang Park are also nearby.

Jungang Veterans Hospital is located right in front of the complex, and Hyundai Department Store, E-Mart, Lotte Cinema, and Gangdong Sacred Heart Hospital are also close by, offering convenient access.

There are also abundant development benefits. The Dunchon Jugong complex (12,023 households) is about to be occupied, and the Moa Housing Redevelopment Project received management plan approval at the end of last year, which is expected to greatly improve residential conditions. Additionally, the planned GTX-D line with the new Gangdong Station (tentative name), IKEA City Godeok branch (scheduled to open in 2024), Godeok Biz Valley, Gangdong Advanced Business District, and Engineering Complex District are under development, which is expected to increase future value and housing demand.

The design is also distinctive. For the first time in Korea's remodeling apartments, a newly constructed separate building will be built for general sales, applying floor plans that reflect the latest trends. The design mainly features 4Bay slab-type layouts preferred by buyers (except for some units), and medium-to-large-sized units with ample space utilization will add a touch of luxury.

In addition, various community facilities such as an indoor golf practice range, fitness club, GX room, sauna, small library, book caf?, and kids' room will be installed. The complex will also have landscaped spaces with various themes including a lawn plaza, pet garden, farm garden, and resident exercise facilities, along with walking trails that circulate throughout the complex, making it ideal for leisure and relaxation.

Meanwhile, 'The Sharp Dunchon Foret' consists of 572 households ranging from 84 to 112㎡ across two basement floors to 14 above-ground floors, with 74 units newly constructed in a separate building for general sales. The subscription schedule starts with special supply on the 11th (Monday), followed by first priority subscription on the 12th (Tuesday), and second priority subscription on the 13th (Wednesday). The announcement of successful applicants will be on the 30th (Wednesday), and the official contract period will be from April 1st (Monday) to April 3rd (Wednesday) for three days.

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