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 5 District redevelopment project in Seoul’s Seocho District.
According to the real estate industry on July 10, An Yujin won a unit in the general sale lottery for THE H Bangbae, with residents scheduled to begin moving in this September.
The lottery allocation originally covered around 215 units. Because the project is subject to Korea’s price ceiling system while not requiring mandatory owner occupancy, industry observers expected exceptionally high competition among applicants.
Although applicants with housing subscription scores exceeding 70 points were widely considered the strongest contenders, the lottery system reserved portions of units for random selection in speculative overheating districts such as Seoul’s Gangnam, Seocho, Songpa, and Yongsan areas. Sixty percent of units under 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. An Yujin reportedly secured one of these randomly assigned units. Seventy-five percent of lottery units are first allocated to households without homes, while the remaining 25% are contested by unsuccessful first-round applicants and one-home owners.
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 up to 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 approximately KRW 3.69295 billion in April, based on Korea’s official 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 a general-sale 84-square-meter apartment, the potential unrealized market gain could approach KRW 1.8 billion.
Actor Lee Pil-mo is also reportedly a member of the THE H Bangbae redevelopment association. He is said to have participated in the lottery for a penthouse unit reserved for association members 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 above-ground floors, with a total of 3,064 households. The complex is built under THE H, the premium residential brand of Hyundai Engineering & Construction. 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 also nearby.
Bangbae-dong has long been regarded as one of Seoul’s most affluent residential neighborhoods, featuring a mix of luxury villas, detached homes, and upscale apartment complexes.
