The high-end residential complex Cheongdam LE | EL, built by Lotte Construction, will conduct an open competitive bid for the remaining units (withheld lots).
The Cheongdam Samik Apartment reconstruction association said on the 29th that it will begin in earnest to dispose of the withheld lots after the inauguration of a new head of the association.
The association said it lowered the expected price for the popular 84-square-meter exclusive-use type by about 10% from the previous appraisal amount to reflect the current dwellings market sentiment.
A total of nine households are being sold this time. Specifically, it consists of five highly preferred 84-square-meter exclusive-use households (expected price about 5.4 billion–5.6 billion won) and four large, rare penthouses (exclusive 172㎡, 200㎡, 202㎡, 218㎡, expected price about 17.8 billion–22.6 billion won).
The complex was created as a large-scale development from four basement levels to a maximum of 35 above-ground floors (a total of 1,261 households). It boasts a variety of top-tier resident amenities, with Cheongdam-dong's excellent location and an unobstructed view of the Han River.
Unlike general subscription sales, the listings coming out this time have the advantage that buyers can visually inspect the condition of already completed homes before making a purchase decision. In addition, they are exempt from some real estate regulations.
Competitive bid submissions for the remaining units will be at 3 p.m. on July 7. Contract signing with the successful bidder will take place between the 8th and 15th of the same month. The specific sale procedures and participation methods can be found in detail in the notice posted on the Public Procurement Service Nara Marketplace website.