Lotte Construction will begin sales of the 'Seocho Lotte Castle Art Palace' in November, located at 1448-1 Seocho-dong, Seocho-gu, Seoul. This development features small apartments subject to a price ceiling system and is notable for its short waiting period for occupancy, as it is a post-construction sale project.
According to Lotte Construction on the 26th, the complex will consist of two buildings with five basement levels and a maximum of 36 floors, totaling 835 units. Of these, 146 units will be available for general sale. The units will range in size as follows: 24 units at 35 square meters, 24 units at 37 square meters A, 31 units at 37 square meters B, 22 units at 37 square meters C, 31 units at 39 square meters, and 14 units at 46 square meters.
The project will be supplied through the Seoul Youth Housing Assurance program. The 146 units available for general sale will be standard apartments, and eligible applicants can apply through the Korea Real Estate Agency's application portal.
All units in the general sale will be under 60 square meters, with 60% of these units allocated by lottery. This system allows young professionals and newlyweds with relatively low application points to have a chance at winning a unit.
As a post-construction sale project, potential buyers can view the actual building and surrounding environment before applying. Occupancy is expected to begin in February 2027.
The location offers convenient transportation, being close to the Nambu Terminal Station on Subway Line 3. A transfer at the Gyodae Station to Line 2 provides access to the Gangnam business district, and major roadways such as the Southern Circular Road, Seocho Central Road, and the Seocho IC of the Gyeongbu Expressway are nearby.
Surrounding amenities include the Seocho-dong legal town, the Seoul Arts Center, the National Gugak Center, and Umyeonsan Mountain. Residents will also have access to shopping and medical facilities in the Gangnam area.
To enhance space utilization in the small apartments, storage options such as dress rooms and pantries will be included based on the housing type. Additionally, underground storage units will be provided, and community facilities will feature a fitness center, lounge café, cooking room, party room, yoga and meditation room, and meeting rooms.
A representative from the sales team stated, "This new small apartment complex in a prime location in Seocho-dong, with the application of the price ceiling system and a high proportion of lottery allocations, is expected to attract significant interest from young professionals and newlyweds preparing to enter the Gangnam area."
* This article has been translated by AI.
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