A penthouse apartment located in Samseong-dong, Gangnam, Seoul, was auctioned for 13 billion won. This is the highest amount in auction history.
According to GGAuction, a company specializing in auction data, on the 9th, a penthouse with a dedicated area of 269 square meters at 'I Park Samsung' in Samseong-dong, Gangnam, was sold for 13.04352 billion won. The auction ratio, which indicates the ratio of the final price to the appraised value, is 90.58%.
Previously, the highest amount sold was for a 244-square-meter unit at 'Nine One Hanam' in Hannam-dong, Yongsan, Seoul, which was auctioned for 11.37 billion won in June last year.
The property was put on the auction market with an all-time high appraised value of 14.4 billion won. However, it failed to sell on the first sale date held on the 3rd of last month, as no one placed a bid. The second sale began at 11.52 billion won, which is a 20% decrease from the original appraised value, and a total of two individuals placed bids. The second highest bidder made an offer of 12.73 billion won, which was 300 million won short of the final bid.
'I Park Samsung' is a complex that opened in March 2004. It consists of three buildings with 449 units. With a building coverage ratio of 9%, it is the lowest among apartments in the country. A low building coverage ratio means that the distance between buildings is great and there is rich landscaping and green space. This complex is composed solely of large units, with only 46 units of the 167 square meter type (63-pyeong), resulting in infrequent transactions.
It is particularly famous for being the residence of popular broadcaster Jun Hyun-moo. Jun Hyun-moo is known to reside in a 156-square-meter (59-pyeong) unit at I Park Samsung. In addition to Jun Hyun-moo, it is reported that other celebrities and high-net-worth individuals, including Kwon Sang-woo and Son Tae-young, also live there.