As the demand for high-end luxury housing continues to rise, "LANUVO Hannam," located in the UN Village of Hannam-dong, Seoul, is currently on sale and is expected to surpass 20 billion KRW ($200 million USD), marking a first for the northern regions of Seoul.
This is unprecedented within the UN Village, a prominent 'high-end' real estate area alongside Cheongdam-dong in Seoul. The pricing for "LANUVO Hannam" is anticipated to bring a fresh wave of change to South Korea's high-end housing market.
Historically, the trend in Korea's high-end housing has been concentrated in Gangnam, particularly around Cheongdam-dong. For instance, "PH129" in Cheongdam-dong, built on the former Ellui Hotel site, features 29 units across 6 basement levels and 20 above-ground floors. With an official price of 16.32 billion KRW ($16.32 million USD) for a unit of 407㎡, it is currently the most expensive condominium in the country.
Another notable development is "Eterno Cheongdam," designed by Spanish architect Rafael Moneo, a laureate of the Pritzker Prize in 1996 and the Royal Gold Medal from the Royal Institute of British Architects in 2003. Scheduled for completion in December 2022, this complex features 29 units within a single 20-story building on a site of 3,200㎡ (968.64 pyeong). The loft type super penthouse on the top floor is projected to be priced around 30 billion KRW ($30 million USD). Despite being two years away from completion, all units in this project have already been sold, illustrating the high demand for these luxury residences.
The introduction of a 20 billion KRW high-end residence in the northern part of Seoul, which has previously had a relatively low profile, signifies a shift in the landscape of luxury housing away from its traditional focus in Gangnam. This diversification offers more choices for consumers and potentially rebalances the high-end housing market in Seoul.
"LANUVO Hannam" is notable for its exclusivity, occupying a land area of 654㎡ (197.83 pyeong) with a total floor area of 1,584.38㎡ (479.3 pyeong), comprising just four units in a structure of two basement levels and four above-ground floors. The ground floor unit, expected to sell for around 15 billion KRW ($15 million USD), boasts a spacious 200㎡ (60 pyeong) terrace. The top floor penthouse, priced in the 20 billion KRW range ($20 million USD), includes a rooftop garden of 200㎡ (60 pyeong).
With a sale area exceeding 330㎡ (100 pyeong) and a practical usage area over 300㎡ (90 pyeong), each unit offers expansive space and panoramic views. Every room, along with built-in appliances and storage, features top-quality wood and materials, enhancing the sense of luxury.
In addition to embodying the identity of a premium luxury residence, "LANUVO Hannam" has established a comprehensive "one-stop care" system. This system encompasses facility maintenance from sale to post-occupancy, including building/civil engineering, electrical/fire protection, and mechanical/electrical repairs. It also ensures 24-hour security and advanced post-occupancy management with services like CCTV monitoring, drawing significant attention for its all-inclusive approach to resident care.
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