Panoramic view of Raemian One Bailey./Provided by Samsung C&T Construction Division
If you win in Banpo-dong, Seocho-gu, Seoul, you can apply for the lottery with a market profit of over 1.5 billion won. However, since the subscription points must be high and more than 2 billion in cash must be raised in two months, it is expected to be ‘pie in the sky’ for most users.
According to the Korea Real Estate Board’s subscription homepage on the 10th, ‘Raemian One Bailey’ building 117, exclusive area 84㎡, is accepting first priority subscription requests for canceling union members. Normally, when a subscription is cancelled, an ‘unlisted subscription’ is chosen through a lottery system, but in this case, as the units sold to union members are released to non-union members, they are supplied by the general subscription method. This means that the higher the subscription bonus points, such as the period of homelessness, the subscription period of a subscription account, and the number of dependents, the more advantageous it is.
The sale price is 1,956.38 million won, similar to the price at the time of the first subscription in 2021. Since the construction work has already been completed in the complex, balcony expansion and options are included. According to the actual transaction price disclosure system of the Ministry of Land, Infrastructure and Transport, only 84㎡ for Raemian One Bailey was brokered for 4 billion won on the 5th floor last February and 4.25 billion won on the 32nd floor last month. The asking price for the same unit in Building 117 is 4 billion to 4.4 billion won. However, as the property offered is on the first floor, the market price is expected to be lower than the asking price. One subscription expert said, “The market price of a luxury apartment along the Han River can vary up to 500 million won based on 84㎡ depending on the view or the floor.”
The winner announcement date is the 28th, and the contract date is the 10th to 12th of next month. A 10% deposit must be paid at the time of signing the contract, and the balance must be paid at the time of moving in in July. If acquisition tax (3.3%) is added, it is expected that more than 2 billion won will be needed. The jeonse price is about 1.7 to 1.8 billion won, so you can receive jeonse and pay the balance, but the remaining time is running out, so the contract may be canceled .
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