Seoul's 'Raemian Grande' Offers Rare Investment Opportunity with Two Units Available for 'No-Substitute' Sale

Seoul's real estate market continues to offer lucrative opportunities, even in the secondary market. Two units at the highly anticipated 'Raemian Grande' in Imoon-dong, Dongdaemun-gu, are now available for 'no-substitute' (무순위 청약) sale, a rare chance for buyers to acquire prime property at a significant potential profit. These units became available due to contract cancellations, presenting a golden opportunity for those who missed out on the initial offering.

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Two units of the 'Raemian Grande' in Imoon-dong, Seoul, are being offered through a no-substitute sale due to contract cancellations.

The 'Raemian Grande', a massive 3,069-unit complex, is slated for completion in January 2025 and is part of the Imoon-Hwigyeong New Town development. Its strategic location, a mere 10-minute walk from Sinimun Station and Hankuk University of Foreign Studies Station on Line 1, adds to its appeal. The initial sale prices for the 55㎡ and 74㎡ units were approximately 883 million won and 958 million won, respectively, before additional options and balcony extensions. However, industry estimates suggest a potential profit of 400 to 600 million won per unit, with current listings for the 74㎡ unit already reaching 1.7 billion won.

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The available units are a 55㎡ for general sale and a 74㎡ for special housing for the elderly.

What makes this offering particularly attractive is the absence of residency obligations. Unlike many new developments in Seoul, these units are not subject to the housing subscription cap system, meaning buyers can purchase them as investments without the need to live in them. This flexibility, combined with the substantial expected price difference between the sale price and the current market value, makes these two units highly sought after. Interested parties who are 무주택 세대주 (heads of households without a home) residing in Seoul can apply, regardless of their subscription history. The application period is set for the 12th and 13th of this month, with winners announced on the 18th and contracts signed on the 22nd.

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This apartment is a 2-year-old complex scheduled for move-in in January 2025, located in the Imoon-Hwigyeong New Town.