Seodaemun penthouse at Gyeonghuigung Yubora opened for public auction

A final penthouse left after the completion of Seoul’s Gyeonghuigung Yubora complex is going to public auction, with immediate occupancy available after the winning bidder pays the remaining balance.

The unit in Seodaemun’s Dongnimmun-ro has an exclusive area of 141 square meters and a usable area of 163 square meters. It includes two open balconies totaling about 55 square meters of additional service space. The redevelopment association will provide balcony extensions and options including a system air conditioner at no cost.

Because the unit is a reserved property supplied directly by the redevelopment association, it is not subject to the land-transaction permit zone rules. It also does not require separate local-government approval or owner occupancy and is outside ordinary housing subscription restrictions. Anyone aged 19 or older may bid regardless of whether they hold a housing subscription account, own other homes or face a re-subscription restriction. Companies may also participate if they have no national or local tax arrears.

Applications must be submitted in person at the Gyeonghuigung Yubora information center in Seodaemun by 2 p.m. on the 8th. Bids will be opened after 4 p.m. the same day. The association will select the bidder offering the highest amount among those meeting or exceeding its reserve price. Contracts will be signed on the 8th and 9th.

Gyeonghuigung Yubora consists of two buildings ranging from five basement levels to 23 floors above ground, with 199 apartments, 116 officetels and 64 retail units. It stands near Dongnimmun Station on Subway Line 3 and Seodaemun Station on Line 5. The complex received completion approval in June, and residents are moving in.