Picking up the '800 Million Lotto' in Seoul After a Long Time... Financial Planning Must Be Done in Advance

Godeok Lotte Castle Veneruche 2 Households, Non-Sequential Subscription on the 16th

Panoramic View of Lotte Castle Bene Luce in Godeok, Gangdong-gu

[Asia Economy Reporter Kim Hyemin] In Seoul, a so-called 'Lotto Jjumjjum (non-priority subscription)' opportunity, which can expect tens of millions of won in capital gains after a long time, has appeared. Since winners are selected by lottery, competition is expected to be fierce. However, all payments must be completed within two months, so a funding plan should be prepared in advance.

According to the Korea Real Estate Board's subscription website on the 14th, the non-priority subscription for 'Godeok Lotte Castle Bene Luce' in Sangil-dong, Gangdong-gu, will be held on the 16th. The subscription quantity is two units with an exclusive area of 84㎡. This apartment was sold in May 2017 and moved into in December 2019, but two contracts were canceled due to supply order disruption and other reasons.

It attracts attention as it is a large complex with over 1,800 households and a branded apartment, and it is the first supply in Seoul in a long time. Its proximity to Sangil-dong Station on Subway Line 5 and its location in Gangdong-gu, one of the four Gangnam districts, are also factors of popularity. The sale price is the same as five years ago. Depending on the balcony, extension fees, and floor, the price is set at 725 million won and 794 million won respectively. The mid-floor units of the same size were traded in the mid to late 1.6 billion won range last year, and the current asking price is around 1.7 to 1.8 billion won.

Since it is a non-priority subscription, a subscription savings account is not required, and there is no obligation for actual residence. After the transfer of ownership registration, resale is also possible. However, a 10% deposit must be paid by the 28th, and the remaining balance must be paid within two months. Since the market price exceeds 1.5 billion won, balance loans are not possible. Gangdong-gu is a speculative overheating district, so a funding plan must be submitted when reporting real estate transactions. Because the source of funds is carefully scrutinized and the payment period is short, it is advised to prepare a funding plan in advance. If the contract is canceled after being selected as a winner, re-selection will be restricted for 10 years, which can result in a significant loss.

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