Developers who had purchased expensive lots for luxury officetels in Gangnam are now selling them in droves. The interest rate hikes and rapid shrinking of the real estate market has made these projects difficult to continue. Aster is selling 832-23 Yeoksam-dong and the nearby lots, Gonggam C&D is selling 17 Nonhyeon-dong and 7 nearby lots, and 28-6 Jamwon-dong and 3 nearby lots, and Lucia Holdings is selling 61-5 Nonhyeon-dong 8-beonji, all of which were initially meant to be developed into luxury officetels but are up for sale due to financial difficulties on the part of the developer. Such cases are only expected to increase with time. Currently, much of the […]