Half-Price Apartments Launch in Magok, Seoul
1Half-price apartments selling only buildings launched in Magok, Seoul.
230-pyeong units priced at $300k, much cheaper than market rates.
3Monthly land rent replaces land costs to help home ownership.
📖 Easy Explanation
🔍 Background
With Seoul's housing prices soaring, the city is offering affordable homes by selling only the building and excluding land costs.
📌 Key Points
Magok's new 30-pyeong units cost around 400 million KRW. Since SH owns the land, residents pay a separate monthly land lease fee.
💡 Why It Matters
It's a great chance for first-time buyers to own a home in Seoul. However, resale conditions should be checked carefully.
📚 Glossary
국민평형 (Gungmin Pyeonghyeong)Standard 84sqm apartment size preferred by four-person families.
토지임대부 분양주택 (Toji Imdaebu Bunyang Jutaek)Land-leasehold housing where the public owns land and buyers own the building.