Win Up to 600 Million Won in Profit... "Lotto Jubjub" Units Available at Ramian La Grande, Dongdaemun-gu [Real Estate AtoZ]

Two Units (55 sqm and 74 sqm) Available for Redistribution
Subscription Applications Open from the 12th
Full Balance Required by June Move-In

Two units at Ramian La Grande, a large apartment complex in Imun-dong, Dongdaemun-gu, Seoul, are being offered through a non-priority subscription. The units will be supplied at the original sale prices from 2023, so buyers can expect to gain several hundred million won in profit compared to the current market prices of similar new developments in the area. Since a subscription savings account is not required to apply, there is expected to be high demand for the general supply units.

According to Korea Real Estate Board’s subscription website on May 4, Ramian La Grande has announced tenant recruitment for a total of two units: one 55 sqm unit (general supply) and one 74 sqm C-type unit (special supply for families supporting elderly parents), and has started the redistribution process. The non-priority subscription system, commonly known as “jubjub,” allows for the resale of units whose contracts were canceled due to disqualification or illegal resale after the main subscription process. As of the announcement date, any head of a homeless household aged 19 or older who resides in Seoul can apply for these units, regardless of whether they have a subscription savings account.

The sale prices are set at the same level as the initial supply in 2023. The 55 sqm unit is priced at 883 million won, and the actual supply price including balcony extension fees and existing optional items totals 895.38 million won. The 74 sqm C-type unit is priced at 958 million won, with the total supply price including balcony extension and existing optional items coming to 974.68 million won. For both units, the terms for balcony extension and optional items must follow the original contract and cannot be changed.

Both types feature three bedrooms and two bathrooms. The 74 sqm C-type is a dual-household layout, with two entrances, kitchens, and bathrooms, allowing part of the space to be separated within one unit. This design targets buyers who wish to live with parents or want to separate living spaces.

Estimated Profit: 300 Million Won for 55 sqm, 600 Million Won for 74 sqm

Aerial view of Raemian La Grande. Samsung C&T Corporation

There have been no recent transactions for the 55 sqm unit, making it difficult to determine the exact market price. However, looking at nearby new developments offers a rough estimate. For example, a 59 sqm unit at Imun IPark Xi was sold for a record 1.535 billion won (28th floor) last month. This suggests a potential profit of 650 million won if compared directly with the 55 sqm Ramian La Grande unit offered through this redistribution. Although there is a lack of recent transaction data for the 74 sqm unit as well, its sale price is even lower than the market price of nearby 59 sqm units, so it is also expected to yield several hundred million won in profit compared to new developments in the area.

However, location differences should be considered. A local real estate agent near Ramian La Grande commented, “Imun IPark Xi has a superior location as it is right next to Hoegi Station on Seoul Subway Line 1, making it more desirable than Ramian La Grande.” The agent added, “Given that the 59 sqm unit at Imun IPark Xi is valued in the 1.5 billion won range, it is realistic to estimate the price of the smaller 55 sqm Ramian La Grande unit in the 1.2 billion won range, and the 74 sqm unit in the 1.6 billion won range.” Comparing these with the sale prices, the estimated profit is about 317 million won for the 55 sqm unit and about 640 million won for the 74 sqm unit.

Lease Possible, But Tight Payment Schedule

The subscription schedule is as follows: special supply for families supporting elderly parents on the 12th, general supply on the 13th, and winners will be announced on the 18th. Contracts will be signed on the 22nd. The expected move-in date is next month. Successful applicants must pay a 20% deposit first and prepare the remaining 80% by the move-in date, which means there is a short period for securing funds.

There is no requirement for actual occupancy. It is possible to lease the unit upon move-in to cover the balance. However, as these units are in a speculative and subscription-restricted zone, winners will be banned from winning another subscription for the next 10 years. Additionally, the resale restriction is three years from the date of the original subscription winner announcement, which was August 23, 2023. Since the restriction period is calculated from the original winner announcement date, it will end around the end of August this year, not based on the date of this redistribution.

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