[Featured Stock] "Condo Business Boom" Monayongpyeong Soars 15.23%

Due to strong demand driven by the success of luxury condos and expectations regarding business sustainability, the stock price of Mona Yongpyeong surged on the 20th.

As of 9:55 AM that day, Mona Yongpyeong was trading at 4,425 won, up 585 won (15.23%) from the previous trading day.

Mona Yongpyeong's second-quarter sales reached 61.3 billion won, an 85.9% increase compared to the same period last year, and operating profit turned positive at 500 million won. The day before, Shinhan Investment Corp. issued a new buy rating and a target price of 7,000 won for Mona Yongpyeong, stating it is in a "revaluation phase led by luxury condo sales."

Researcher Choi Seunghwan of Shinhan Investment Corp. explained, "Despite this period typically being weak in profits due to property tax payments, operating revenue increased by 10.6% to 30.7 billion won thanks to a rise in group tours. With the progress of the Lusongchae condo construction, sales revenue of 30.6 billion won was recorded, resulting in a profit." Lusongchae, which began sales in October 2022, is priced at 40.7 million won per pyeong, making it the highest-priced in the country and comparable to major apartment prices in Seoul.

Researcher Choi forecasted, "In the second half of next year, as the completion of Lusongchae approaches in the first quarter, a significant increase in sales revenue is expected due to rising construction progress. New contract inquiries from prospective customers have been active since last month, and the sales rate of Lusongchae is expected to reach 84% by the end of the year."

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