Banpo Raemian Triniwon, First-Priority Applications on the 11th... Who Will Win the "3 Billion Won Lottery"? [Real Estate AtoZ]
506 Units Available for General Sale Out of 2,091
Price Ceiling Applied, Sale Price at About Half the Market Value
Stricter Mortgage Limits Increase Cash Requirement
The Final Addition to the Raemian Brand Town
The Construction Division of Samsung C&T Corporation will open a model home on November 7 and begin sales for "Banpo Raemian Triniwon." With the price ceiling system applied, buyers can expect to gain up to 3 billion won in capital gains.
"Banpo Raemian Triniwon" is a residential complex supplied through the reconstruction and maintenance project of Banpo Apartment District 3. The large-scale apartment complex consists of 17 buildings, ranging from three basement levels to a maximum of 35 floors above ground, and a total of 2,091 units. Of these, 506 units sized between 59 and 84 square meters will be available for sale. The breakdown by size is as follows: 59㎡ (Type A: 223 units, Type B: 129 units, Type C: 26 units, Type D: 78 units), and 84㎡ (Type A: 14 units, Type B: 29 units, Type C: 7 units). Applications for special supply will be accepted on November 10, first-priority applications for the local area on November 11, for other areas on November 12, and second-priority applications on November 13.
The sale price is 84.84 million won per 3.3㎡. By unit size, the prices are set at 1.904 to 2.089 billion won for 59㎡ units, and 2.651 to 2.749 billion won for 84㎡ units. As a complex subject to the price ceiling system, the sale price is about 50% to 60% of the surrounding market value. Successful applicants can expect capital gains of 2 to 3 billion won. For comparison, recent actual transaction prices at the adjacent Raemian One Bailey complex were 4.25 billion won for a 59㎡ unit and 6.511 billion won for an 84㎡ unit. The highest prices recorded were 4.45 billion won (in June) for a 59㎡ unit and 7.15 billion won for an 84㎡ unit.
However, due to lending regulations, the mortgage loan limit is capped at 200 to 400 million won. Applicants need to have 1.6 to 2.5 billion won in cash to qualify. This is a post-sale apartment, with occupancy scheduled for August next year. After the winners are announced on November 19, a 20% down payment is required, and the remaining balance must be paid by the expected move-in date, nine months later, to take possession.
Banpo-dong is regarded as one of the most prestigious neighborhoods in Seoul. Major shopping facilities such as Shinsegae Department Store Gangnam Branch and Lotte Mart Seocho Branch are nearby, as well as cultural and leisure facilities like the Seorae Village cafe street and Central City. Large medical facilities, including Seoul St. Mary's Hospital of The Catholic University of Korea and Chung-Ang University Hospital, are also in the vicinity. Banpo Hangang Park, Sinbanpo Park, Banpo Stream, and Banpo Sports Complex are also located nearby.
Subway Line 9's Gubanpo Station is directly connected to the basement of the complex. Major arterial roads such as Olympic-daero, Dongjak Bridge, and Banpo-daero are easily accessible. The area is also home to prestigious schools, including Banpo Elementary School, Banpo Middle School, Sehwa High School, and Sehwa Girls' Middle and High Schools.
With the completion of this complex, Samsung C&T Corporation will establish a massive Raemian Town with a total of 8,166 units, together with Raemian Prestige, Raemian One Bailey, and Raemian One Pentas. A sales representative commented, "Banpo Raemian Triniwon is the final addition to the Raemian brand town in the prime Banpo-dong area, and has been attracting strong interest from buyers even before sales have started."
The model home will be set up at the Raemian Gallery, and viewing will be available by advance reservation only. Reservations will be accepted until November 8, and viewing will be possible until November 9.
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