'Half-Price Apartments' Godeok Gangil 3rd Complex Pre-Reservation Attracts '20,000' Crowd

19,966 Applicants for 500 Households
Average Competition Rate Recorded at 40 to 1
Winners to Be Announced on the 23rd

Nearly 20,000 people flocked to pre-register for the general supply of the 'half-price apartment' in Godukgangil 3rd Complex, Gangdong-gu, Seoul, with a sale price in the 300 million KRW range. The average competition rate is 40 to 1, and the winners will be announced on the 23rd.

According to Seoul City and Seoul Housing and Communities Corporation (SH Corporation) on the 7th, a total of 19,966 people applied for pre-registration for the 500 land leasehold sale housing units in Godukgangil 3rd Complex. The average competition rate is 40 to 1.

The land leasehold sale housing, known as the 'half-price apartment,' means that the public owns the land while the ownership of the buildings is acquired by the buyers. Residents can live for 40 years and can renew the contract for another 40 years, allowing a maximum residence period of 80 years.

For the general supply pre-registration held from the 2nd to the 6th of this month, 5,690 people applied as first priority and 1,014 as second priority for 100 units, resulting in a competition rate of 67 to 1.

Earlier, for the special supply pre-registration held from the 27th to 28th of last month, 13,262 people applied for 400 units, showing an average competition rate of 33.2 to 1.

By category, the newly introduced special supply for youth attracted 8,871 applicants for 75 units, recording the highest competition rate of 118.3 to 1. This was followed by newlywed couples special supply at 14.6 to 1 and first-time homebuyers special supply at 11.8 to 1.

The city analyzed that the high demand was due to the inclusion of a special supply category for unmarried youth for the first time in Seoul, along with advantages such as high-quality design and materials, pleasant location conditions, and reasonable sale prices.

SH Corporation will select the winners after verifying the eligibility of subscription savings accounts and will announce the results on the 23rd. Even after the announcement, additional screening will be conducted to confirm eligibility based on income, non-homeownership, assets, and other selection criteria.

The project is planned to start construction in May, with the main subscription scheduled for August 2026 and move-in in March 2027.

The main subscription will be conducted in a post-sale method when construction reaches 90% completion. Winners can decide whether to subscribe after actually inspecting the house.

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