DMC Fine City Xi, Nearly 300,000 Apply Without Ranking... "Highest Competition Rate"

[Asia Economy Reporter Yoo Hyun-seok] The non-priority subscription for the remaining one household at 'DMC Fine City Xi' in Susaek Jeungsan New Town, Eunpyeong-gu, Seoul, recorded the highest competition rate ever.

GS Construction began accepting non-priority subscription applications for the remaining one unit (59㎡ Type A) of DMC Fine City Xi that was not contracted through the 'Xi App' from 10 a.m. on the 29th. However, from the beginning of the opening, numerous applicants flooded in, causing connection issues.

After the application deadline on the day, GS Construction announced that about 298,000 applicants applied for the one available unit.

This is the highest competition rate ever recorded in non-priority subscriptions. Last month, the 'Sejong Leaders Fore Naritjae Village 2 Complex,' which was offered as a non-priority subscription in Sejong, attracted about 249,000 applicants for one unit. This is a higher number.

Non-priority subscription allows anyone aged 19 or older to apply without special eligibility restrictions such as holding a subscription account or being homeless. Also, even if selected, there is no restriction on re-selection.

In particular, the average competition rate for non-priority subscriptions this year reached 39.4 to 1 as of the previous day, nearly double last year's rate of 21.6 to 1.

Uncontracted units are supplied again at the original sale price at the time of supply, so they are considered a 'lottery' because they are significantly cheaper compared to the sharply rising surrounding market prices.

The sale price of the unit offered in the non-priority subscription on this day, including balcony expansion fees, is 526.43 million KRW.

Considering that the sale right for a 59㎡ unit at nearby 'DMC Lotte Castle The First' was sold for 1.05 billion KRW last month, the price is about 500 million to 600 million KRW lower.

This is a supply shortage in Seoul's sale units. Additionally, the proximity to Susaek Station and the location in Susaek Jeungsan New Town, which has many future benefits, are cited as popular factors.

This unit was popular during the first-priority subscription on August 1, recording an average competition rate of 34.4 to 1, with winning scores ranging from a minimum of 65 points to a maximum of 74 points.

The winners will be announced through a random draw at 10 a.m. on the 30th, and they must pay a contract deposit exceeding 100 million KRW on the same day.

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