Acro River Sky: Sufficient Current and Future Value

*This content was translated by AI.

10 million won has collapsed. Construction costs in Seoul have far exceeded 10 million won per pyeong.

A sharp surge in construction costs triggered by the redevelopment of Duncheon Juhong Apartments is sweeping the apartment market. In fact, construction costs at Seoul redevelopment sites have easily surpassed 10 million won per 3.3 square meters.

There is a growing trend of actual homebuyers flocking back to the housing subscription market. This is because purchasing a home through the housing subscription market offers the only viable way to reduce costs.

In Gangnam-gu Apgujeong District 3, construction costs are set at 11.2 million won per pyeong; Apgujeong District 4 at 12.5 million won; and Apgujeong District 5 at 12.4 million won. In Seongdong-gu Seongsu 1 District, construction costs are 11.32 million won per pyeong, and Yeouido Daegyo Apartments are also priced at 11.2 million won per pyeong.

Real estate industry source A stated, "The high per-pyeong construction cost levels at redevelopment sites are likely to spread across all of Seoul. The average per-pyeong construction cost for redevelopment projects has surpassed 10 million won in just five years, rising from 4.8 million won in 2021." He added, "The Korea Housing Guarantee Corporation released data in March this year showing that the average sales price for private apartments in Seoul reached a record high of 54.8 million won per pyeong."

As the Seoul apartment market heats up, the future value of DL E&C's Noryangjin New Town project, "Acro River Sky," is drawing attention. The sales price for the 84th-square-meter exclusive area ranges from 2.4992 billion won to 2.7958 billion won. Compared to the 84th-square-meter exclusive area of "Acro Riverheim," located in Heukseok-dong, Dongjak-gu, which traded for 3.46 billion won in October last year, this is evaluated as being set at a significantly lower price by hundreds of millions of won. It is also assessed as highly competitive as both a residence for actual living and an investment for retirement.

The complex boasts excellent location access to the Han River, as well as superior accessibility to major business districts including Gangnam, Yeouido, and City Hall. Moreover, as it is supplied under DL E&C's high-end brand "Acro (ACRO)," its quality is exceptionally high.

A DL E&C official, speaking via telephone with this newspaper, stated, "The 'Acro' brand is a guaranteed success. It has already proven its brand value through projects such as 'Acro Riverpark' in Banpo-dong, Seocho-gu; 'Acro River View' in Jamwon-dong; and 'Acro Seoul Forest' in Seongsu-dong, Seongdong-gu."

Construction industry source B remarked, "The recent rise in apartment sales prices is an unavoidable phenomenon. We cannot ignore the difficulties in material supply due to the war and the increase in labor costs. If one must decide on housing in a context where prices have already risen, there is no choice but to carefully evaluate and select based on both current and future value. Furthermore, how the design is implemented must also become an important criterion for judgment."

Meanwhile, the draw results for Acro River Sky will be announced on June 5, with contract signing scheduled for five days from June 20 to 24. The housing exhibition hall is located near Mabang Station on the Southern Bypass in Gangnam-gu, Seoul. Occupancy is scheduled for August 2029.

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*This content was translated by AI.