Last Chance for Homeowners to Snatch Up 'Changgyeonggung Lotte Castle' Draws 6,098 Applicants... Competition Rate 135 to 1

Winners Announced on the 6th, Contracts on the 8th

In the non-priority subscription for ‘Changgyeonggung Lotte Castle Signature,’ redeveloped from Samseon 5 District in Seongbuk-gu, Seoul, a large number of investors' subscription accounts flooded in. As the opportunity for homeowners to participate in non-priority subscriptions disappears due to system reforms, it is analyzed that investors rushed to catch the last train.

According to the Korea Real Estate Board's subscription homepage on the 4th, a total of 6,098 people applied for the non-priority subscription targeting 45 households with an exclusive area of 84㎡ held the previous day. The competition rate was 135.51 to 1. This subscription was conducted for the remaining units caused by disqualified households or duplicate subscriptions.

The high subscription competition rate was driven by the locational advantage as a large-scale brand complex in downtown Seoul and the fact that it was virtually the last chance for homeowners to participate before the non-priority subscription system is revised later this month. The government plans to announce a bill this month restricting non-priority subscription eligibility to non-homeowners and residents of the relevant area.

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

‘Changgyeonggung Lotte Castle Signature’ is being developed on 296, Samseon-dong 2-ga, Seongbuk-gu, Seoul, consisting of 19 buildings from 4 basement floors to 18 above-ground floors, totaling 1,223 households. The complex boasts a ‘triple station area’ location within walking distance to Hansung University Station on Line 4 and Bomun Station on Line 6 and the Ui-Sinseol Line. It is also adjacent to major cultural and green spaces such as Changgyeonggung Palace, Jongmyo Shrine, Changdeokgung Palace, Seongbukcheon Fountain Plaza, Samseon Park, and Marronnier Park.

Elementary, middle, and high schools such as Samseon Elementary, Hansung Girls’ Middle and High School, and Gyeongdong High School are densely located within a 1 km radius. The complex is mainly south-facing and applies a slab-type cross-ventilation design (except for some types) to maximize openness, lighting, and ventilation. The design also features enhanced space utilization with dressing rooms, utility rooms, and powder rooms. Community facilities include a fitness club, indoor golf club, screen golf, study rooms, kids’ room, book caf?, single-person reading rooms, and guest house, reflecting the latest trends. Move-in is scheduled for April 2027. Winners of the non-priority subscription will be announced on the 6th and contracts signed on the 8th.

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