'1 Billion Lotto' Raemian One Bailey Average 161 to 1... 36,000 Applicants Flock
[Asia Economy Reporter Moon Jiwon] Samsung C&T recorded an average competition rate of 161.23 to 1 and a highest rate of 1873.5 to 1 in the first-priority subscription for 'Raemian One Bailey,' supplied in Banpo-dong 1-1, Seocho-gu, Seoul, successfully closing all housing types in the area.
According to the Korea Real Estate Agency's subscription homepage on the 17th, a total of 36,116 subscription accounts were submitted for 224 units during the first-priority subscription for Raemian One Bailey, resulting in an average competition rate of 161.23 to 1.
The highest competition rate was 1873.5 to 1 for the 46㎡A type, where 3,747 applicants competed for 2 units.
By exclusive area, the rates were ▲46㎡A 1873.5 to 1 (2 units, 3,747 applicants) ▲59㎡A 124.9 to 1 (112 units, 13,989 applicants) ▲59㎡B 79.62 to 1 (85 units, 6,768 applicants) ▲74㎡A 537.63 to 1 (8 units, 4,301 applicants) ▲74㎡B 471.33 to 1 (6 units, 2,828 applicants) ▲74㎡C 407.55 to 1 (11 units, 4,483 applicants).
Formed through the reconstruction project of Sinbanpo 3rd and Gyeongnam Apartments, this large-scale complex consists of 23 buildings ranging from 4 basement floors to a maximum of 35 floors above ground, with a total of 2,990 units ranging from 46 to 234㎡ in exclusive area.
It is the largest complex in the approximately 8,000-unit ‘Raemian Town’ in the Banpo-dong area, located in a prime golden location facing the Han River, equipped with excellent residential infrastructure including transportation, convenience facilities, natural environment, and prestigious school districts.
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The announcement of the first-priority subscription winners for Raemian One Bailey will be on the 25th. Document verification will take place from the 30th to the 6th of next month, and winner contracts will be conducted from the 9th to the 13th of next month. Move-in is scheduled for August 2023.
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