"1 Billion Lotto" D.H. Firstier I-Park Subscription Attracts 26,000 Applicants

Average 22.89 to 1... Highest Competition Rate 112㎡A '155.93 to 1'

[Asia Economy Reporter Kim Yuri] Approximately 26,000 people applied for the first-priority general subscription for the reconstruction of Gaepo Jugong 1 Complex in Gangnam-gu, Seoul, known as The H Firstier I-Park.

According to the Korea Real Estate Agency's subscription website on the 22nd, The H Firstier I-Park in Gaepo-dong, Gangnam-gu, which received first-priority applications the previous day, recorded an average competition rate of 22.90 to 1 with 25,991 applicants for 1,135 households (excluding special supply).

The highest competition rate was seen in the 112㎡A type, which is 50% lottery-based. With 46 households available, 7,173 people applied, resulting in a competition rate of 155.93 to 1. The 112㎡B type also had a competition rate of 76.62 to 1. The three 132㎡ types, which are also half selected by lottery, showed high competition rates, with the highest at 69.44 to 1.

The H Firstier I-Park is a complex reconstructed from Gaepo Jugong 1 Complex, consisting of 74 buildings from 4 basement floors to 35 above-ground floors, supplying 6,702 households. The general sale price is 47.5 million KRW per 3.3㎡. Based on the 112㎡ sale price, it is priced in the 1.9 billion KRW range, which is about 1 billion KRW less than the nearby newly built Gaepo Raemian BlessTige 113㎡ market price (approximately 3 billion KRW), indicating a price difference of about 1 billion KRW.

The subscription winners will be announced on the 29th. Contracts will be signed from August 20 to 26.

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