IVE member An Yujin has reportedly been selected in the general sales lottery for THE H Bangbae, a luxury apartment complex developed as part of the Bangbae District 5 redevelopment project in Seoul’s Seocho district.
According to the real estate industry, on July 10, An Yujin won a unit in the general sales lottery for THE H Bangbae, with residents set to begin moving in in September.
The lottery allotment originally covered approximately 215 units. Since the project is subject to the Korean maximum price system and does not require mandatory owner occupancy, industry observers expected exceptionally high competition among applicants.
Although applicants with housing pass scores above 70 points were widely considered the strongest contenders, the lottery system reserved portions of units for random selection in overheated speculative districts such as the Gangnam, Seocho, Songpa, and Yongsan areas of Seoul. 60% of units smaller than 60 square meters, 30% of units between 60 and 85 square meters, and 20% of units larger than 85 square meters are allocated through a lottery. One Yujin reportedly secured one of these randomly assigned units. Seventy-five percent of lottery units are initially allocated to homeless families, while the remaining 25% are contested by unsuccessful first-round applicants and single-homeowners.
It has not been confirmed whether An Yujin plans to live in the apartment herself.
THE H Bangbae officially launched sales in August 2024. Initial prices were set at KRW 1.7025 billion for 59 square meter units, KRW 2.243 billion for 84 square meter units, KRW 2.5 billion for 101 square meter units and KRW 2.762 billion for 114 square meter units.
Considering that an 84-square-meter unit changed hands for around KRW 3.69295 billion in April, based on official Korean real estate transaction records, the property’s value has increased by more than KRW 1.45 billion in just over two years.
Current asking prices for 84 square meter units are reportedly around KRW 4 billion. If An Yujin secured an 84-square-meter apartment in general sale, the potential unrealized market gain could approach KRW 1.8 billion.
Actor Lee Pil-mo is also reportedly a member of THE H Bangbae redevelopment association. It is said that he entered the lottery for a penthouse reserved for members of the association, but was unsuccessful.
Located at 946-8 Bangbae-dong in Seoul’s Seocho district, THE H Bangbae consists of 29 residential buildings ranging from four basement levels to 33 floors above ground, accommodating 3,064 families in total. The complex is built under THE H, Hyundai Engineering & Construction’s premium residential brand. It offers convenient access to Isu Station on Seoul Subway Lines 4 and 7, as well as Bangbae Station on Line 2. Several schools, including Bangbae Elementary School and Isu Middle School, are within walking distance, while Seomun Girls’ High School, Dongduk Girls’ High School, Sangmun High School, Seoul High School and Seocho High School are nearby.
Bangbae-dong has long been considered one of Seoul’s wealthiest residential neighborhoods, featuring a mix of luxury villas, single-family homes and luxury apartment complexes.
Sources: Nate
