Why '260,000 People' Flocked to Acro Seoul Forest Zupzup

Expect Capital Gains of at Least 600 Million KRW... Anyone Aged 19 or Older in the Seoul Metropolitan Area Can Apply

[Asia Economy Reporter Onyu Lim] The 'lottery psychology' attracted 260,000 people to the non-priority subscription for 'Acro Seoul Forest' along the Han River in Seongdong-gu, Seoul. It is analyzed that not only wealthy cash holders in the metropolitan area but also many people in their 30s, who practically do not have the capacity to pay the minimum 1.7 billion KRW in sales price, applied.

According to Daelim Industrial on the 21st, a total of 264,625 people applied for the non-priority subscription of Acro Seoul Forest held the day before. This number exceeds the total number of applicants in Seoul for a year, which is 210,000. The competition rate for the 97㎡ (exclusive area) B type was the highest. A staggering 210,585 people applied for just one unit supplied. For the 159㎡ A and 198㎡ units, each supplied as one household, 34,959 and 14,581 people applied, respectively.

The so-called non-priority subscription, known as 'jupjup,' refers to supplying units that have not found owners due to contract cancellations or disqualified winners through a lottery system. In the case of Acro Seoul Forest, these are units from disqualified winners. The large number of applicants is because anyone aged 19 or older residing in the metropolitan area could apply regardless of whether they had a subscription savings account.

Above all, the reason is that an immediate market price gain of several hundred million KRW is guaranteed upon winning. Acro Seoul Forest is supplied at the same price as three years ago. The 97㎡ B unit costs 1.741 billion KRW, the 159㎡ A unit 3.042 billion KRW, and the 198㎡ unit 3.758 billion KRW. Considering that the recent sale price of the nearby Trimage 84㎡, which was occupied in 2017, is between 2.3 billion and 2.9 billion KRW, it is calculated that a profit of at least 600 million KRW can be made. A Daelim Industrial official said, "As word of the market price gain spread, the keyword 'Acro Seoul Forest' ranked first in real-time search terms among people in their 30s yesterday, showing great interest from that age group."

However, due to the heavy financial burden, it is also observed that many applicants are phantom applicants. According to the resident recruitment announcement, winners must pay a deposit equivalent to 10% of the sales price the day after the announcement on the 28th. This ranges from a minimum of 174.1 million KRW to as much as 375.8 million KRW.

Meanwhile, Acro Seoul Forest is a super high-rise mixed-use complex located along the Han River, adjacent to Seoul Forest. It was approved during former Seoul Mayor Oh Se-hoon's administration and built up to 49 floors.

This content was produced with the assistance of AI translation services.