'700 Million Lotto' Gwacheon Jijeongta Lin Familie 1st Priority 718 to 1... 2nd Highest Subscription Competition Rate Ever

Perspective View of Lin Familier in Gwacheon Knowledge Information Town

[Asia Economy Reporter Ryu Tae-min] A total of 37,000 people applied for the first-priority subscription for ‘Gwacheon Jisikjeongbotown Lin Familier,’ the last public sale complex in Gwacheon City, Gyeonggi Province’s Jisikjeongbotown.

According to the Korea Real Estate Agency’s subscription homepage on the 25th, this complex, which received first-priority subscriptions the day before, had 37,352 applicants for 52 units, recording an average competition rate of 718.3 to 1. This is the second highest record ever, following the 809.1 to 1 competition rate for the first-priority subscription of ‘Dongtan Station Dietre Prestige’ in Dongtan 2 New Town, Hwaseong City, Gyeonggi Province, last May. The complex also succeeded in popularity during the special supply on the 23rd, with 18,957 applicants for 266 units.

By type, the 84.99㎡ (exclusive area) recorded the highest competition rate of 1014 to 1. The 84.99㎡A type, which recruited 33 units, attracted 23,466 applicants, resulting in a competition rate of 711.1 to 1, and the 84.81㎡ type showed a competition rate of 874.5 to 1. The first-priority subscription for this complex allocated 30% to residents of Gwacheon City for more than 2 years, 20% to residents of Gyeonggi Province for more than 2 years, and the remaining 50% to residents of Seoul, Incheon, and Gyeonggi Province for less than 2 years.

‘Lin Familier,’ constructed by the consortium of WooMi Construction and Shindong-A Construction, is a private-participation public sale apartment located in S8 block of Gwacheon Jisikjeongbotown, consisting of public sale housing and newlywed hope town (public sale and happy housing). It consists of 5 buildings from 2 basement floors to 29 floors above ground, with units of 46, 55, and 84㎡. The 114 happy housing units in the newlywed hope town will be recruited later.

The complex is considered popular as a ‘lotto sale’ because the sale price is about half of the nearby market price. The sale price of this complex ranges from 786.7 million to 872.6 million KRW. Compared to the nearby ‘Raemian Sure’ in Wonmun-dong, Gwacheon City, where an 84.961㎡ unit was sold for 1.7 billion KRW last month, it is about 1 billion KRW cheaper.

However, caution is needed as it is difficult to convert to a balance loan if the market price exceeds 1.5 billion KRW at the time of moving in. There is also a 5-year mandatory residence obligation after moving in, so it is not possible to rent it out immediately.

Since all housing types were closed in the first-priority subscription, the second-priority subscription scheduled for the 25th will not be conducted. The subscription winners will be announced on the 31st.

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