'300,000 Applicants Flock to DMC Pine City Xi', First Reserve Wins Due to Winner's Contract Cancellation

Perspective view of DMC Fine City Xi.

[Asia Economy Reporter Choi Dong-hyun] A woman in her 20s who won the lottery for the DMC Fine City Xi no-priority subscription, which attracted about 300,000 applicants, gave up the contract. Ultimately, a woman in her 30s, who was the first standby candidate, completed the contract.

According to the industry on the 30th, Kim (29 years old), the winner of the no-priority subscription contract for one unit of 59㎡ exclusive area at DMC Fine City Xi in Eunpyeong-gu, Seoul, gave up the contract in the afternoon. To proceed with the contract, Kim had to pay 105.19 million KRW, which is 20% of the sale price (contract deposit 102.6 million KRW, separate items 2.69 million KRW) on that day. The winner was announced at 10 a.m., and the contract period was from 1 p.m. to 3 p.m. However, it was reported that Kim gave up the contract.

Due to Kim’s contract cancellation, the opportunity passed to Son (a woman in her 30s), the first standby candidate. Son reportedly deposited the contract payment of 105.28 million KRW as soon as her turn came. She must pay the first interim payment of 51.3 million KRW (10%) on January 12 next year.

Meanwhile, about 298,000 people applied online for one unit of 59㎡ no-priority subscription for the uncontracted unit of DMC Fine City Xi held the previous day. Since there were no special subscription eligibility restrictions and anyone aged 19 or older residing in Seoul could apply regardless of subscription savings account or home ownership, this no-priority subscription attracted the largest number of applicants in history.

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