Gangnam Apartment with 35,076 Applicants for One Household's 'General Sale' of 2 Billion Won 'Lotto'

Exclusive Area 84.95㎡ 1 Household, 35,076 Applicants
Huge Popularity Even in General Sale, Not Unordered Subscription
Sale Price About 2 Billion KRW, Market Price About 4 Billion KRW '2 Billion KRW Lotto'

More than 30,000 people applied for one canceled unit at 'Raemian One Bailey' in Seocho-gu, Seoul.

According to the Korea Real Estate Board's subscription website on the 20th, a total of 35,076 people applied for the first-priority subscription for one unit of 'Raemian One Bailey' with an exclusive area of 84.95㎡.

The supply on this day was a general sale, not a non-priority subscription commonly called 'jupjup'. Winners are selected in order of the highest score based on the subscription point system, which considers factors such as the period of being without a home, number of dependents, and subscription account duration.

The reason for the extremely high competition rate despite being a general sale is the expectation of 'capital gains'. The supply price of the apartment located on the first floor is 1,956,390,000 KRW. A 32nd-floor unit of the same size was traded last month for 4,250,000,000 KRW. Even though it is on the first floor without a premium, if selected, a capital gain close to 2 billion KRW is expected.

The announcement of the winners will be on the 28th.

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