Hauterre Banpo, rebuilt from Shinbanpo 21 in Jamwon-dong, Seocho-gu, Seoul, is set to begin sales as early as this month. As a newly built apartment in a core Gangnam location and expected to accept subscriptions at prices below market levels, tens of thousands of people are projected to flock to apply. However, because it is a post-sale apartment that sells after construction is complete, applicants must have around 2 billion won in cash to move in by July.
According to the redevelopment industry on the 24th, the reconstruction association for Shinbanpo 21 in Jamwon-dong, Seocho-gu, Seoul, is finalizing the schedule for the resident recruitment notice for Hauterre Banpo with Seocho-gu. An industry official said, "If things move quickly, the resident recruitment notice will be released within this month and the subscription schedule will begin."
Hauterre Banpo, rebuilt from Shinbanpo 21, is an apartment complex located around 59-10 Jamwon-dong, Seocho-gu, Seoul. It sits in a prime spot between Banpo Station on Line 7 and Jamwon and Express Bus Terminal stations on Line 3, with Wanchon Elementary, Seoil Middle, Sehwa Girls' Middle, Banpo High, Seocho High, and Yeongdong High nearby.
POSCO E&C transformed the 108-unit complex completed in 1984 into two buildings with 4 basement floors and 20 above-ground floors, totaling 251 units ranging from 44 to 130 square meters of exclusive area, of which 86 units will be offered to the general public. Construction is already complete, and it is awaiting use approval (completion) from Seocho-gu, the relevant local district. A Seocho-gu official said, "Use approval is scheduled for around late May, and the timetable for the resident recruitment notice has not yet been set."
POSCO E&C launched the high-end brand "HAUTERRE" in 2022 and first applied the brand to this complex, which broke ground in April that year. By exclusive area for general supply, the breakdown is ▲ 44㎡: 13 units ▲ 45㎡: 10 units ▲ 59㎡: 43 units ▲ 84㎡: 11 units ▲ 97㎡: 3 units ▲ 113㎡: 4 units ▲ 115㎡: 2 units.
What stands out is that this apartment opted for post-sale. Typically, the reconstruction association, as the project entity, receives down payments through pre-sale and pays construction costs to the builder. Post-sale, like at Hauterre Banpo, sells after the apartments are fully built and is not subject to the price ceiling system even within a speculative overheating district, allowing for higher sales prices.
Move-in is scheduled for July. Although newly built, the complex's small scale suggests prices will be set slightly below Maple Xi (3,307 units), a large nearby complex. Maple Xi, which began move-ins in June 2025, has so far recorded only one transaction across all layouts: a 49.28㎡ unit on the 9th floor sold for 3.4 billion won on Oct. 23, 2025.
Even without the price ceiling, the industry expects the price for the standard 84㎡ unit not to exceed 3 billion won. Some expect pricing to land in the mid-to-high 2 billion won range.
According to WolYong Subscription Research Institute, from 2024 through this year, 13 complexes that have sold or are slated to sell in the three Gangnam districts (Gangnam, Seocho, and Songpa) set prices at 54 million to 85 million won per 3.3㎡. The highest-priced complex is ACRO de Seocho (formerly Seocho Sindonga), which begins sales at the end of this month, at 78 million won per 3.3㎡. At the highest pricing, ACRO de Seocho's 59㎡ unit is 1.86 billion won.
If Hauterre Banpo, which avoided the ceiling through post-sale, prices above ACRO de Seocho and sells at 80 million won per 3.3㎡, the price for an 84㎡ unit would be 2.036 billion won.
Under the Oct. 15 measures announced last year, the mortgage loan limit for apartments over 2 billion won was capped at 400 million won. Even if Hauterre Banpo sets pricing at 80 million won per 3.3㎡, buyers of an 84㎡ unit would need more than 1.6 billion won in cash. Larger layouts would require over 2 billion won in cash. Some expect an even higher price than 80 million won per 3.3㎡.
WolYong Subscription Research Institute projected that at least 20,000 applicants will rush in and that a subscription score of 74 or higher will likely be needed to win.
Jang So-hee, a senior specialist at Shinhan Premier Pathfinder, said, "Hauterre Banpo is small in scale, but it sits between Maple Xi and Banpo Xi and shares both school districts and infrastructure with those large complexes, so while there will be price differences from the mega-complexes, its future value is promising."
Lee Su-bin, head of research at the real estate platform company HomDubu, said, "We expect the price to be over 2 billion won for the 59㎡ unit," adding, "Because it is a post-sale complex with move-in in July, there are only three to four months from winning to final payment, so in effect only those with around 2 billion won in immediately available cash will be able to apply."