"Was the Sale Price Too High?"... Imun I-Park Xi's First Priority Competition Rate Only 16.8 to 1

‘Imun I-Park Xi’ in Dongdaemun-gu, Seoul recorded an average competition rate of 16.8 to 1 in the first-priority subscription. Although it is considered the flagship complex of Imun-Hwigyeong New Town, the high sale price led to a lower-than-expected competition rate.

Ilmun I-Park Xi perspective view. [Image provided by HDC Hyundai Development Company]

According to the Korea Real Estate Board’s subscription website on the 1st, Imun I-Park Xi closed its first-priority subscription the day before, with a total of 13,280 applicants for 787 units. The penthouse with an exclusive area of 102㎡ P type recorded the highest competition rate, attracting 130 applicants for just one unit.

Among the 59㎡ units, the 59㎡ D type had the highest competition rate at 20.0 to 1, and among the 84㎡ units, known as the standard size, the 84㎡ A type was the most popular with a competition rate of 25.3 to 1. The 41㎡ A type, targeting 1-2 person households, attracted 699 applicants for 8 units, showing a competition rate of 87.3 to 1.

However, three types located in Complex 3?59㎡ E, 84㎡ D, and 84㎡ E?did not reach five times the number of applicants relative to the units available, so a second-priority subscription will be held on the same day.

This outcome was anticipated as the average competition rate for the special supply conducted earlier was only 6 to 1. Unlike other complexes in Dongdaemun-gu this year that showed double-digit competition rates, this one showed a single-digit rate. On the 30th of last month, Imun I-Park Xi conducted a special supply for 685 units, attracting 4,100 applicants.

Industry insiders believe that the difference in sale prices had a significant impact. While the sale price of Raemian La Grande for an 84㎡ unit is in the high 1 billion KRW range, Imun I-Park Xi was priced between 1.2 billion and 1.4 billion KRW, showing a difference of about 300 million KRW.

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