Business · Companies · 7 hrs ago
Eunma apartment owners favor 84-square-meter homes as fees rise
Owners in the Eunma redevelopment in Seoul’s Gangnam district have chosen which sizes of new homes they want.
Applications concentrated on 84-square-meter homes, with 1,934 requests for 1,354 planned units.
By contrast, just 10 owners applied for one of the 56 planned 143-square-meter penthouses.
The main reason is the high extra fees for larger homes: an owner of an existing 84-square-meter home would pay about 430 million won to get the same size, while the estimated fee for a penthouse is about 9 billion won.
These fees have risen as construction costs increased and the project’s estimated value ratio fell.
The association plans to revise the design to favor smaller homes and take applications again in 2028.
That change could also leave more homes available for general sale, but the final unit mix and sales total are not yet clear.
Eunma apartment owners favored 84-square-meter homes as high additional payments deterred demand for larger units.
The redevelopment association received 1,934 applications for 1,354 planned 84-square-meter homes.
Only 10 applications were submitted for 56 planned 143-square-meter penthouses.
An owner of an existing 84-square-meter unit would pay an estimated 430.21 million won to receive the same size after redevelopment.
The association plans to adjust the design to reflect owners’ choices, with a new application round planned for 2028.
- Who
- Eunma apartment redevelopment association members.
- What
- Owners favored 84-square-meter homes over larger units as additional payments rose.
- When
- Applications closed on October 30, 2026.
- Where
- Eunma apartment in Daechi-dong, Gangnam District, Seoul.
- Why
- High estimated additional payments, along with tighter lending rules cited by one report, made larger homes harder to choose.
This story does not have two clearly opposing sides.
Eunma apartment received approval for its redevelopment implementation plan, according to Ttangjipgo.
The association distributed application guidance that included estimated additional payments, according to Ttangjipgo.
The application period for owners’ preferred home sizes closed.
Reports said the association would adjust the planned unit mix to reflect application results.
The association plans to invite owners to submit size preferences again, according to Hankyung.
- 84-square-meter homes
- 1,934 applications for 1,354 planned units
- 143-square-meter penthouses
- 10 applications for 56 planned units
- Same-size replacement for an existing 84-square-meter home
- Estimated additional payment of 430.21 million won
- Existing 76-square-meter owners choosing an 84-square-meter home
- Additional payment of 744 million won, according to Hankyung
- Redevelopment plan
- 5,850 homes, with buildings up to 49 floors and 29 buildings
- Applications closed
- October 30, 2026
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