If You Win, 2 Billion Won 'Lotto Subscription' Gaepo-dong Apartment Attracts 1.01 Million People... Record Highest Number

With an expected price difference of up to 2 billion KRW, the "lottery subscription" for the non-priority subscription of the "DH Firstier I-Park" apartment in Gaepo-dong, Gangnam-gu, attracted over 1 million applicants.

Aerial view of The H Firstier I'Park (Gaepo Jugong 1 Complex Reconstruction). [Image source=Hyundai Engineering & Construction]

According to the Korea Real Estate Agency's subscription homepage on the 26th, the "DH Firstier I-Park," which received non-priority subscriptions that day, had 1,013,456 applicants for a total of 3 units, recording an average competition rate of 337,818 to 1.

This surpasses the scale of the non-priority subscription record of "Heukseok River Park Xi," which attracted 934,728 applicants for 2 units in June last year. Heukseok River Park set the highest competition rate in history when 829,804 applicants competed for a single 59㎡ unit.

Similarly, DH Firstier I-Park recorded the highest competition rate with 503,374 applicants for the single 59A㎡ (4th floor) unit.

For the 132A㎡ (2nd floor) unit, which had one unit available, 337,608 applicants applied, and 172,474 applicants applied for the 34A㎡ (3rd floor) unit.

"DH Firstier I-Park" is a large complex of 6,702 units rebuilt by Hyundai Construction and HDC Hyundai Development Company from the Gaepo Jugong 1st complex, with move-in starting in January this year.

The sale prices for the three units released this time were 670 million KRW for the 34㎡ unit, 1.32 billion KRW for the 59㎡ unit, and 2.26 billion KRW for the 132㎡ unit, which is the same level as the initial sale price in 2020, drawing attention. The 59㎡ unit (28th floor) was traded for 2.20198 billion KRW in December last year, and the 132㎡ unit (24th floor) was contracted for sale at 4.9 billion KRW last month.

On the day, the subscription homepage experienced access delays as applicants flooded the site simultaneously. Since the complex is not subject to the price ceiling system and has no mandatory residence regulations, funds can be raised by leasing the units.

The announcement of winners will be on the 29th, with the deposit due on the 8th of next month and the balance payment due by June 7 of this year. Winners will be restricted from reapplying for 10 years after winning.

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