Competition Ratio 6000 to 1: 'Lotte Castle Le West' Official Contract Signing Underway

'Lotte Castle Le West' Perspective View

Lotte Construction announced on the 30th that the official contracts for the residential lodging facility "Lotte Castle Le West" supplied in the Magok district of Seoul will be conducted over three days from August 30 to September 1.

Lotte Castle Le West previously received a total of 575,950 applications (based on website subscription) during the subscription period, recording a highest competition ratio of 6,049:1 and an average of 657:1.

The contract terms are a 10% down payment, 60% interim payment, and 30% balance payment, with official contracts conducted at the model exhibition hall. Winners must deposit the first installment of the down payment (10%) of 10 million KRW via bank transfer to the designated payment account, including the applicant's unit number and name, and submit the bank transfer receipt upon contract signing. The second installment of the down payment must be paid within one month after signing the contract. There is no restriction on resale of the pre-sale rights, so resale is possible once the full 10% down payment is completed. A 0% interest benefit on the 60% interim payment will also be provided.

Located in CP2 Block within the Magok Special Planning District, Gangseo-gu, Seoul, Lotte Castle Le West consists of 5 buildings ranging from 6 basement floors to 15 above-ground floors, with a total of 876 units sized between 49 and 111 square meters. The model exhibition hall is located at 226 Yangjae-dong, Seocho-gu, Seoul (opposite Costco Korea Yangjae branch). Move-in is scheduled for August 2024.

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