In Songpa-gu, one of Gangnam’s three boroughs, there is a presale complex that has attracted attention for its high price and high competition. Thousands of people also voted for sale at these complexes earlier this year. However, as the situation changes rapidly, Songpa has appeared a negative premium, aka ‘Mafi’, which sells goods at a lower price than the selling price in order to have the pre-sale rights. ☞Money Today’s real estate YouTube channel, ‘Buridge’, got a lot of attention in the apartment and what happened in that area.
However, a first-time seller who couldn’t resist the real estate cold wave appeared in Songpa-gu, also known as Gangnam 3rd District. As the market’s bearish trend spread this year, the first sale that occurred in some areas of the metropolitan area was also confirmed to Songpa, revealing an unusual atmosphere.
Amid unpredictable market trends, some of the redevelopment complexes that did not apply the price cap have set the “guts” price. In the global financial crisis-level economic downturn, high interest rates and a downward trend that threatens even Gangnam, buyers’ horses are also expected to appear more. Today we take a look at the real estate market through the mafi apartment complex that appeared all at once in Songpa-gu.
—‘Mafi’ appeared in Gangnam … ‘Sell the guts’ and I was confused
–Songpa The Platinum is a refurbishment of the old Anam Apartments and the number of units for general sale is 29 units. It was sold for 52 million won per pyeong (3.3 m²) and was sold for 65 m² from 1,344.3 million to 1472.6 million won and 72 m² from 1,375 to 1494.6 million won. There has been a dispute over the selling price and the ‘sale of guts’. At the time of the sale, the average competition ratio of subscriptions reached 2599 to 1. As it is not subject to restrictions such as resale restrictions and residency requirement real, presale rights can be resold, attracting many investors in anticipation of short-term profit margins.
However, in January and in the current situation, the situation changed so rapidly that I wondered if that could be the case. As the housing market stagnated intensified, Mafi appeared in Songpa-gu, also known as Gangnam 3rd District. It is confirmed that the right to sell for an exclusive area of 65㎡ is 1,422.6 billion won, which is approximately 50 million won less than the initial sale price of 1,472.6 billion won. In a situation where it was obvious that it would decline further, adoptees first launched the right to sell.
There is another complex in Songpa-gu that is experiencing various storms, including excessive sales prices, lack of supply digestion, non-contractual contracts and remaining sales volume. This is also where Burridge visited last April. This is “Jamsil The Sharp Ruben”. This apartment, which is an apartment renovation site in the Holy Land, is a 327 unit apartment complex remodeling the existing 298 families with a vertical extension method.
–As a result of Burridge coverage, 50% of the overall sales volume remains unsold. Even now the selling price remains at 26 billion won. I resisted for over 5 months with no discounts. Consumers are apathetic. In a situation where property prices could fall further, if the market price itself does not rise, a non-independent apartment that cannot make a profit even if it receives a sale is a risky option. Hear the expert analysis. ☞ More details can be found on the Money Today ‘Buridge’ real estate YouTube channel.
With Jo Seong-joon
Photograph Lee Sang-bong, Kim A-yeon PD
Curated by Lee Jin Kim
cool design
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