Apartments owned by Pension Service sold at public auction
Some go for over 10X what they were bought for 30 years ago

Apartments in Ido-dong... owned by the Government Employees Pension Service... have been sold at public auction for close to 400 million won per unit… well over ten times the price they were bought for 30 years ago.

Twenty-two apartments were auctioned off via Korea Asset Management Corporation’s online public bidding site, onbid.co.kr… and the selling price for a 56-square-meter apartment ranged between a high of 372 million won and a low of 260 million won.

The lowest selling price for a smaller-sized apartment was around 210 million won… which was still 60 million higher than the appraised value.

The apartments were originally bought for an average of 20 million won in the mid-1980s by the Government Employees Pension Service for use as rentals by public officials. All 160 apartments in the complex will be sold through public auction by 2019.

This week’s auction attracted 416 bidders, meaning there were an average of 19 for every property.

이도주공 공매 최고가 3억 7천만 원

공무원연금공단이 내놓은 이도주공아파트가 공매에서 4억 원에 육박하는 가격에 낙찰됐습니다.

한국자산관리공사 공매사이트 온비드를 통해 이도아파트 공무원 임대주택 22채를 공모한 결과 최고가는 전용면적 56제곱미터 아파트로 3억 7천 2백여만 원, 최저가는 2억 6천여 만 원에 낙찰됐습니다.

해당 아파트의 최저 입찰가는 2억 1천만 원에서 2억 5천만 원 선으로 최대 낙찰가율이 160%에 달했습니다.

한편 이번 이도아파트 공매에는 22채에 416명이 응찰해 평균 19대 1의 경쟁률을 기록했습니다.