DMC Pine City Xi Unranked Subscription Sees Flood of Applicants... Server Delays

Perspective view of DMC Fine City Xi.

[Asia Economy Reporter Donghyun Choi] As the number of applicants surged for the non-priority subscription of the remaining single unit at 'DMC Pine City Xi' in Susaek Jeungsan New Town, Eunpyeong-gu, Seoul, access issues occurred on the subscription application.

According to the industry on the 29th, GS Construction has been accepting non-priority subscription applications for the remaining uncontracted units of DMC Pine City Xi, exclusive area 59㎡ Type A, through the 'Xi App' since 10 a.m. today.

However, from the beginning, numerous applicants caused delays in access. A GS Construction official stated, "Due to the large number of applicants, access is not smooth, and we are taking measures to expand the server."

Non-priority subscription allows anyone aged 19 or older to apply without special eligibility restrictions such as holding a subscription savings account or being without a home. Also, even if selected, there is no restriction on re-selection. It is mostly perceived as a 'lottery' because it is cheaper than market prices, making it preferred by many investors with low subscription scores. The average competition rate for non-priority subscriptions this year is 39.4 to 1, about twice last year's (21.6 to 1).

The sale price of the property for today's non-priority subscription, including balcony expansion fees, is 526.43 million KRW. Considering that the sale price of the exclusive 59㎡ unit at the nearby apartment 'DMC Lotte Castle The First' was 1.05 billion KRW last month, the price is about 500 to 600 million KRW lower. It is a Seoul complex with increasing scarcity, close to Susaek Station, and located in Susaek Jeungsan New Town, which has many future benefits, making its location an advantage.

The non-priority subscription application period is until 5 p.m. today, and the announcement of winners is at 10 a.m. on the 30th. Winners must pay a contract deposit exceeding 100 million KRW on the contract date, the 30th.

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