Mini Dunchon Jugong 'The Sharp Dunchon Foret' Shares Infrastructure, Lowers Prices

- 'The Sharp Dunchon Foret' closes first priority subscription with a top ratio of 155.33 to 1
- Reasonable sale price compared to actual transaction price of Dunchon Jugong, premium expected

‘The Sharp Dunchon Foret,’ known as the ‘Mini Dunchon Jugong’ and considered a ‘hot issue’ in the spring 2024 housing market, has succeeded in its subscription popularity. As the first remodeled apartment in Korea to supply general sales units through newly constructed separate buildings, it clearly captivated demand by differentiating itself.

According to Korea Real Estate Agency’s Subscription Home, the first-priority subscription results for ‘The Sharp Dunchon Foret’ held on the 12th recorded an average competition rate of 93.06 to 1, with 4,374 applicants for 47 general supply units. In particular, for the exclusive 84㎡B type with 15 units available, 2,330 applicants applied, achieving an impressive highest competition rate of 155.33 to 1.

This is the highest first-priority subscription competition rate among all apartments sold in Gangdong-gu since the lifting of regulatory restrictions.

‘The Sharp Dunchon Foret’ is located near ‘Dunchon Jugong (Olympic Park Foreon, 10,2032 households),’ currently regarded as the flagship in Gangdong-gu, sharing similar infrastructure and future value. With a total of 572 households, it is relatively small and has been called the ‘Mini Dunchon Jugong.’

True to its name, it clearly benefited from the halo effect of Dunchon Jugong. The recent actual transaction price of the exclusive 84㎡ units in Dunchon Jugong, scheduled for move-in at the end of this year, reached around 1.9 billion KRW, with asking prices exceeding 2 billion KRW, indicating that the favorable atmosphere in the area has extended to ‘The Sharp Dunchon Foret’ as well.

With added price competitiveness, demand surged further. The sale price for the exclusive 84㎡ units in ‘The Sharp Dunchon Foret’ ranges from 1.2 billion to the high 1.3 billion KRW range, which is up to 700 million KRW cheaper compared to Dunchon Jugong. From the buyers’ perspective, the current price gap is expected to narrow after move-in, allowing for considerable capital gains.

It also boasts excellent design. For the remodeled general sales units, it adopted a ‘newly constructed separate building’ method never before seen domestically. This allowed the incorporation of the latest floor plan trends, designing the general sales units not with the typical remodeled apartment structure but as 4-bay plate-type layouts (except for some), effectively applying housing types similar to newly built apartments.

Additionally, various community facilities are provided, including a sports community with an indoor golf practice range, fitness club, GX room, sauna, and an education community featuring a small library, book caf?, kids’ room, and multi-purpose room.

The location, dense with various infrastructure, also increased buyer preference. The complex is a station-area complex near Jungang Veterans Hospital Station, an express stop on Seoul Subway Line 9. Access to Gangbyeonbuk-ro and Olympic-daero is convenient, facilitating easy travel across Seoul, and it is close to Gangil IC, Sangil IC, and Seo Hanam IC, enabling easy access to various regions. Moreover, transportation benefits such as the planned extension of Line 9 Phase 4 (scheduled for 2028) and the recently announced ‘Top 30 Innovation Strategies in Transportation,’ including the establishment of the GTX-D (planned) line’s Gangdong Station (tentative name), are attracting attention.

All elementary, middle, and high schools, including Seonrin Elementary and Dunchon High, are clustered within walking distance, including Dunchon Middle School right in front of the complex, ensuring a safe commuting environment. Prestigious school districts such as Paejae High and Han Young Foreign Language High School are also accessible.

Convenient living environments are secured with proximity not only to Jungang Veterans Hospital but also to Hyundai Department Store, E-Mart, Lotte Cinema, and Gangdong Sacred Heart Hospital.

Iljasan Urban Natural Park, located right in front of the complex, features various parks and rest facilities such as the Herb Astronomy Park, Gangdong Greenway Family Camping Site, indoor gymnasium, walking trails, and artificial waterfalls. Olympic Park, Gildong Ecological Park, and Gwangnaru Hangang Park are also accessible, making it a multi-zone complex (including station zone, school zone, park zone, etc.) with transportation, education, living, and environment all combined.

An industry insider said, “Although there are differences in scale, Dunchon Jugong and ‘The Sharp Dunchon Foret’ will move in the same direction as they share infrastructure and future value,” adding, “The success of ‘The Sharp Dunchon Foret’ in subscription popularity is expected to lead to quick sell-out and premium on sale rights.”

‘The Sharp Dunchon Foret’ consists of 572 households from basement level 2 to ground level 14, with 74 units ranging from 84 to 112㎡ available for general sale. The official contract period will be held for three days starting April 1 (Monday).

The Sharp Dunchon Foret is operating a promotional center.

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