Highest 655.5 to 1 competition rate
The unranked subscription for Dunchon Jugong Apartment (Olympic Park Foreon) in Gangdong-gu, Seoul closed with a high competition rate of 46.2 to 1.
According to the Korea Real Estate Agency’s subscription home on the 8th, 41,540 people applied for non-ranked subscriptions for 899 units of Olympic Park Foreon (2 units of exclusive area 29㎡, 638 units of 39㎡, 259 units of 49㎡) that were not contracted in general sales. All 899 households submitted for subscription were sold out.
Even though the subscription competition rate of the 1st and 2nd priority general sales exceeds 1 to 1, the winners are selected by random lottery for the non-priority subscription, which is carried out when there is a remaining quantity.
1,311 people applied for the exclusive 29㎡, recording a high competition rate of 655.5 to 1. 12,831 people applied for 39㎡ and 20.1 to 1, and 27,398 people applied for 49㎡, and the ratio was 105.8 to 1.
This non-priority subscription was implemented following the government’s revision of the housing supply rules at the end of last month, when all non-homeownership and residence requirements were abolished. The industry believes that anyone over the age of 19 can subscribe regardless of where they live, whether they own a house, or whether they have a subscription bankbook, and thus benefited from it.
Winners will be announced on the 13th and contracts will be signed from the 20th.
Reporter Yoon Soo-kyung
