SH Corporation's 'Half-Price Apartments' Magok 10-2 Complex General Supply Competition Rate 133 to 1

Seoul Housing and Communities Corporation (SH Corporation) announced on the 20th that the pre-reservation for the Magok 10-2 Complex land leasehold sale housing (New:Home Sharing Type, exclusive area 59㎡) has closed with 18,032 applicants for 260 units, recording an average competition rate of 69 to 1.

Aerial view of Magok 10-2 Complex Land Lease Sale Housing. [Image provided by SH Corporation]

For the special supply pre-reservation, 11,109 applicants applied for 208 units, showing a competition rate of 53 to 1. By category, the Youth Special Supply recorded the highest competition rate at 187 to 1, followed by Newlywed Couple Special Supply (23 to 1) and First-Time Homebuyer Special Supply (21 to 1).

The general supply had a total of 6,923 applicants for 52 units, recording a competition rate of 133 to 1.

SH Corporation will verify subscription savings accounts of applicants and announce the winners on November 2. Afterwards, additional eligibility criteria such as income and assets will be reviewed to finalize the winners.

An SH Corporation official stated, “The much higher competition rate compared to the successfully supplied Godeok Gangil District 3 Complex in June seems to reflect the popularity of the Magok area due to its convenient transportation and excellent educational environment.”

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