As the Yeouido area of Seoul buzzes with reconstruction projects, the newly built apartment "Brighton Yeouido" has increased by about 1.55 billion won in just one month. It recorded the largest price increase among apartments traded in Seoul over the past month.
According to the Seoul Real Estate Information Plaza on the 10th, the exclusive 132㎡ (54 pyeong) of Brighton Yeouido in Yeongdeungpo-gu, Seoul, was sold for 6.72 billion won (46th floor) on the 20th of last month. Considering that the same exclusive area was sold for 5.164 billion won (18th floor) on January 22, this shows an increase of 1.556 billion won in just one month. However, since this transaction is for a high-rise, a premium based on the floor level must also be considered. It has been confirmed that a recent sale transaction for the exclusive 85㎡ of Brighton Yeouido has been signed.
The large project company Shin Young is overseeing the construction of Brighton Yeouido, which was offered through a leasing-to-transfer model starting in April 2023. The leasing period is four years, but if the tenant wishes, they can transfer earlier. It appears that Shin Young has a predetermined selling price range set annually. It is understood that over 90% of the units in Brighton Yeouido have been leased. GS Engineering and Construction is responsible for the construction of this apartment.
A representative from Shin Young noted, "There are less than 10% of the remaining units left," adding, "The units that have undergone transfer (sales) are few, and among them, transactions are taking place, resulting in record highs being reported."
In the past month, the next largest profit margin transaction after Brighton Yeouido was found at the Gunyoung Apartment in Cheongdam-dong, Gangnam-gu, with an exclusive 84㎡ that was sold for 3.5 billion won (10th floor) on the 14th of last month. A month earlier, on January 15, it was traded for 2.6 billion won, which is 900 million won lower (7th floor). However, the Gunyoung Apartment is located near the Han River, so there are significant price variations depending on the Han River view.
The exclusive 116㎡ of Raemian One Bailey in Banpo-dong, Seocho-gu, also rose by 900 million won in just one month. After being traded for 7.1 billion won (6th floor) on the 5th of last month, it changed hands again for 8 billion won on the 17th of the same month.