“Who Would Buy This House for 8 Billion Won?!” The Disappointing Sale of Unallocated Units at Twice the Price
Unallocated Units at Raemian One Pentas Unsold Prices Set at Twice the General Sale Price Unallocated Units at Raemian One Pentas Unsold Prices Set at Twice the General Sale Price… Market Value Level Association Official: “No Decision Yet on Reannouncement” In the core areas of Seoul, high prices for unallocated units are leading to unsold properties. Despite a continued shortage of new apartments and rental listings, high prices for unallocated units are resulting in even high-value properties in Gangnam being ignored by investors and potential buyers. On the 8th, it was reported that all three unallocated units at ‘Raemian One Pentas,’ a redevelopment project of the Sinbanpo 15th Apartments in Banpo-dong, Seocho-gu, Seoul, failed to sell. An official from the redevelopment association stated, “There were no bidders for the unallocated units during the sale at the end of last month. All three units were unsold, and a decision on whether to reannounce the sale has not yet been made.” T...