Economy · 2 sources combined
Apgujeong Redevelopment Apartments
5-Billion-Won Price Drops Accelerate
Deadline Deadline November 1 · Apgujeong District 2 business implementation plan approval application scheduled
In short
Apgujeong redevelopment apartment prices have fallen sharply over the past three months.
Many properties are being sold urgently before the business implementation plan approval application, as owners seek to transfer their membership status.
Strengthened property holding tax and transfer tax announcements are also prompting faster sales.
Key facts
| When | Shinhyundai 12th Phase, which was 11.25 billion won in July this year, dropped to the 9-billion-won range by October. |
|---|---|
| Where | Districts 2 (Shinhyundai 9th, 11th, 12th Phase) and 3 in Apgujeong-dong, Gangnam-gu, Seoul. |
| What | Shinhyundai 11th Phase, 183 ㎡ unit, declined from 12.8 billion won in December last year to 9.3 billion won. |
| How | Urgent sales have increased among those transferring membership status before business implementation plan approval application. |
What it means for me
If you own an apartment in a redevelopment-planned area, you should check the timing of sale and tax burden.
If you are considering purchasing a redevelopment apartment, you must factor in the approval application schedule and tax burden.
If you are considering organizing assets after retirement, you should confirm tax reforms and approval schedules in advance.
