Rare New Construction in Downtown Area... Tension Rises in Preliminary Lottery for Changgyeonggung Lotte Castle Complex 1

"The preliminary winner drawing has ended. If any disqualified candidates are identified later, remaining units may become available..."

Just before noon on the 12th, as people gradually left their seats, the tense atmosphere inside the venue was cleared. That morning at the 'Changgyeonggung Lotte Castle Signature' model house in Sinseol-dong, Dongdaemun-gu, Seoul, a preliminary winner drawing was held for 30 general sale units of exclusive area 59㎡B. The drawing ended in about 1 hour and 15 minutes, and all 30 units found their owners.

'Changgyeonggung Lotte Castle Signature' bird's-eye view. Provided by Lotte Construction

Contrary to recent talk that the 'Eoljuksin' (newly built no matter what) trend has somewhat cooled down, the model house was filled with people eager to secure their own homes from early hours. Visitors ranged from fathers carrying children, couples, to children with elderly parents. A son examined the complex model and asked staff questions to ease his tension.

The drawing started just after the entry deadline of 10:30 AM. The host informed that once a building and unit number are drawn, the subscription account will be lost regardless of contract status. They also emphasized that contracts are made immediately after the drawing, and the down payment (about 110 million KRW) must be paid right away. Then, the building and unit numbers of exclusive 59㎡B units that were not contracted in the special and general supply regular contracts were displayed on the screen. People busily copied them down. The remaining units varied from 1st to up to 13th floors, spanning buildings 102 to 110.

Finally, the numbers of the preliminary winners who visited the site were called in order. Although it was early in the drawing, the numbers quickly progressed from the 30s to 50s, then 70s, and into the 100s, faster than expected. Since the drawing targeted preliminary winners of general supply units, those with relatively high subscription scores who had earlier numbers seemed not to attend. Instead, many people with desperate need for a home had later numbers. These were people with subscription scores in the 30s. A score in the 30s practically means no chance of winning in areas like Gangnam or lottery-type sale complexes. As the drawing reached the middle, numbers in the 130s were called. From then on, the intervals between numbers became narrower. Waiting candidates anxiously checked the decreasing building and unit numbers, wondering if their number would be called. Those who finished the drawing were congratulated with applause.

Some people who did not contract immediately after the drawing put their units back on the market. One couple who drew the 3rd floor of building 110 did not contract and released the unit again. In total, 4 units were re-entered for redrawing due to non-contracts like these. The last preliminary winner to contract was number 246. Many people waited, hoping for contract failures among the 4 units, but when the host announced that all contracts were completed, they had to leave disappointed. That afternoon, the preliminary winner drawing for exclusive 59㎡C units was completed in the 100s range and reportedly received even higher enthusiasm. The 59㎡B and C units are closest to Hansung University Entrance Station on Subway Line 4 and are grouped as the large 1st complex with extensive community facilities.

Changgyeonggung Lotte Castle Signature consists of 19 buildings ranging from 4 basement floors to 18 above-ground floors, with a total of 1,223 units, of which 509 were for general sale. Move-in is scheduled for April 2027. Located in Samseon-dong, Seongbuk-gu, close to the city center, it boasts the advantage of proximity to work. It is also noteworthy that newly built apartments are rare in the urban area. However, it takes more than 10 minutes to reach nearby subway stations, and the underground parking lots are divided among the three complexes and cannot be shared, which is a downside. A sales official said, "Due to terrain differences, each complex must use its own underground parking lot," adding, "Community facilities are also created for each complex, but the indoor golf range is missing in the 2nd complex and is planned to be added."

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