Yeouido pilot apartment.  (Maekyung DB)
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Demonstration of Yeouido and Hanyang Apartments transforming skyscrapers… The sales price is also ‘surge’

Yeouido pilot apartment. (Maekyung DB)

A plan to reconstruct the pilot apartment complex in Yeouido, Seoul into a high-rise complex with a maximum of 60 stories and 2,400 households is being promoted. The nearby Hanyang Apartments will also be built as a reconstructed complex with a maximum of 50 floors and a scale of 1,000 households.

According to the maintenance industry, the city of Seoul held a demonstration and briefing session for residents of Hanyang Apartments on April 28 and released a draft of the rapid integration plan containing the details.

Rapid integrated planning is a system in which the public supports various plans and procedures from the initial stage of establishment of a maintenance plan for private-led development. The advantage is that the maintenance period can be significantly reduced. At the end of last year, the Yeouido pilot apartment and Hanyang apartment were selected for the application of rapid integrated planning, and related procedures have been carried out.

The Seoul Metropolitan Government is discussing ways to increase the floor area ratio by upgrading the use of these three types of residential areas to semi-residential or commercial areas. A plan to create parks and cultural facilities through public contributions (land donation collection) is also being considered. The Seoul Metropolitan Government plans to announce the final plan in the second half of this year after collecting opinions from residents.

As the blueprints for the reconstruction of the pilot apartment complex and Hanyang apartment, which are representative old complexes in Yeouido, are revealed, it is predicted that the reconstruction project in Yeouido will gradually speed up. As expectations for reconstruction increase, the sale price of these apartments is also on the rise. According to the real transaction price disclosure system of the Ministry of Land, Infrastructure and Transport, the 149 square meters dedicated to Hanyang Apartments recently found the owner for 2.58 billion won. It increased by 380 million won from the actual transaction price (2.2 billion won) in January last year. The exclusive 109 square meter was traded for 2.03 billion won in April of this year. This is an increase of 130 million won compared to the previous transaction (1.9 billion won). The 156 m² dedicated trial apartment has not changed since it was traded for 3.5 billion won in October last year, but the asking price was around 4 billion won.

Correspondent Kim Ki-jin

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Reference-www.mk.co.kr

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