GS Construction 'Mapo Xi Hillstate Rachels' Binding Contract Until 24th

- Kitchen Maximized for Efficiency, Praised by Consumers
- Pre-Visit Reservations Underway for Contracting ‘Mapo Xi Hillstate Rachels’

The transaction prices for move-in rights of new apartments in Seoul have risen sharply, leading to rapid contract closures for newly launched complexes. The market is also showing keen interest in ‘Mapo Xi Hillstate Rachels,’ which is currently undergoing formal contracts.

According to actual transaction data from the Ministry of Land, Infrastructure and Transport, the move-in right for an 84㎡ unit at ‘Olympic Park Foreon’ in Gangdong-gu, Seoul, scheduled for move-in this November, was traded at 2.35177 billion KRW in June this year. The general sale price for the same size unit was around 1.2 to 1.3 billion KRW, nearly doubling in price just four months before move-in. Additionally, the move-in right for a 59㎡ unit at ‘Maple Xi,’ launched in Jamwon-dong, Seocho-gu, Seoul, in February this year, was traded at 2.77918 billion KRW in June. The general sale price for the same size was around 1.7 billion KRW, meaning a premium of up to 1 billion KRW was added in less than six months since the general sale.

As the prices for move-in rights in pre-sold complexes have surged, buyers are flocking to newly launched complexes where they can secure a new home in Seoul at relatively reasonable prices. For example, ‘Gyeonghuigung Ubora,’ launched in March this year in Seodaemun-gu, Seoul, recorded an average competition rate of 124.37 to 1 in the first priority subscription and completed 100% contracts for all units by April. This success is attributed to the reasonable sale prices compared to surrounding market prices.

Meanwhile, GS Construction and Hyundai Construction are conducting formal contracts for ‘Mapo Xi Hillstate Rachels’ until Wednesday, the 24th. Located in Gongdeok-dong, Mapo-gu, Seoul, this complex received an overwhelming 40,988 applications in the first priority subscription, achieving an average competition rate of 163.95 to 1.

It is analyzed that the successful subscription results stem from its location near Gongdeok Station and being a large complex with over 1,000 households, supplied at reasonable prices compared to surrounding market prices. The sale price for an 84㎡ unit at Mapo Xi Hillstate Rachels based on actual transaction prices from the Ministry of Land, Infrastructure and Transport is set between 1.6 to 1.7 billion KRW, which is at least 350 million KRW lower than the 2 billion KRW actual transaction price of the same-sized unit in the nearby ‘A’ apartment complex in Mapo-gu.

Furthermore, the excellent in-unit features are expected to result in high resident satisfaction. The complex applies an open balcony design (excluding some units) to provide more usable space, and offers ample storage such as master bedroom dressing rooms and pantries depending on the housing type. Notably, the 114㎡B type features a separated household structure.

In particular, the kitchen has received favorable reviews from housewives in their 30s to 50s. The kitchen of the 84㎡D type, displayed at the model house, features a ‘Kitchen Style Up (paid option)’ with a ‘U-shaped’ layout, allowing a clear view from the kitchen to the living room, which has been highly appreciated by buyers raising young children. Additionally, a coffered ceiling connects the living room and kitchen, maximizing the sense of openness.

For the 84㎡A type, the kitchen width matches the living room’s horizontal width, making the home appear spacious overall. It is designed with ample space to accommodate a large island and a six-person dining table. The island dining table, a recent trend, is placed in the middle to separate cooking and dining areas, and the dining area features a coffered ceiling to enhance openness.

Meanwhile, Mapo Xi Hillstate Rachels consists of 10 buildings ranging from four basement floors to 13?22 floors above ground, with a total of 1,101 households ranging from 59 to 114㎡, of which 463 units are for general sale. Advance visit reservations for formal contracts can be made through the official Mapo Xi Hillstate Rachels website until Wednesday, July 24. The model house is located on the 3rd floor of the Xi Gallery in Daechi-dong, Yeongdong-daero, Gangnam-gu, Seoul, and move-in is scheduled for March 2027.

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