Enlarging an image


An apartment valued at 300 million won will appear in the Godeok Gangil district of Gangdong-gu, Seoul.



It's cheaper than the rental price of an apartment nearby.



At a press conference today (9th), Seoul Housing and Urban Corporation (SH) President Kim Heon-dong said that he plans to release an apartment in the Godeok Gangil district in the form of a land lease, and that he will receive advance reservations as early as this year.



The estimated sale price is expected to be around 350 million won based on 59 square meters of exclusive use.



Earlier, on the 26th of last month, the government announced that it would supply 500,000 public housing units for five years through the 'Supply of 500,000 public housing units for youth and low-income housing stability'.



Public sale is divided into three types: sharing type (250,000 units), selective type (100,000 units), and general type (150,000 units).



Among them, SH Corporation has decided to supply 500 households in Godeok Gangil 3 Complex, the first target of the sharing type (sales below 70% market price, 70% profit guarantee), as land-rental apartments.



President Kim said, "The purpose of SH Corporation is to stabilize house prices in Seoul and to prevent citizens from worrying about house prices.



The sale price of Godeok Gangil Complex 8, disclosed by SH Corporation, is 37.17 million won based on an exclusive 59㎡.



Of these, the cost of the building is 190 million won.



The pre-sale price of the 14th complex is 32,649 million won, and the building price is 200 million won.



President Kim said that the price of the newly built apartment building is expected to be around 300 million won, and that it will be supplied at around 350 million won including the profits of SH Corporation.



The asking price of 59㎡ for exclusive use of Gangdong River Burst Complex 4 nearby is KRW 1 billion, and the total price is KRW 400-500 million.



SH Corporation has built and sold 90% of apartments for the past 15 years, but this time, we have decided to accept advance reservations at the expected sale price.



There is no deposit, and if the reservation is not satisfied after the building is almost completed, the reservation can be canceled without any penalty.



The final price may change after the apartment is built, but it will not differ significantly from the publicly estimated price, Kim emphasized.



Land Lease In apartments, land is leased and only buildings are sold, so land rent is incurred.



Regarding the burden of land rent, President Kim said, "We are considering a method of paying 10 or 50 years' worth in advance rather than receiving monthly payments.



Regarding the point that, unlike land, buildings are depreciated over time, and there is no big advantage, "The apartment in Jagok-dong, Gangnam (where only the building was traded) was sold for 200 million won, but in 2017, it was traded up to 500 million won, and recently up to 1.2 billion won. He said, "You don't have to worry too much."