A 95-million-dollar house in Korea’s richest village shows the reality of Korea, where assets are all invested in real estate
Apgujeong is also difficult to redevelop due to lack of money, but other apartments will be difficult for the elderly to rebuild their businesses because they don’t have money
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(1)It means the ratio of the total floor area of the building to the land area
(2)The higher the floor area ratio, the more buildings can be built For residents, the higher the floor area ratio, the higher the general sale, which can reduce the contribution According to the Seoul Metropolitan Government’s guidelines, the coastal architecture that participated in the design contest consisted of 5,214 households with a floor area ratio of 300, while Heerim Architecture submitted a plan to build 5,974 households, 760 more than its competitors with a floor area ratio of 330 As the number of households increases, the general sale can reduce the construction cost burden on residents
(3)A, a member of Apgujeong District 3, said, “About five owners of Apgujeong District 3 can pay 400 million to 800 million won in cash,” adding, “For owners who have a small stake or retired, it is difficult to pay the share because they have no asset income other than apartments.” Heerim refutes that it did not violate Seoul’s guidelines because it used eco-friendly incentives such as zero-energy design and long-lived housing certification