"Were there this many cash-rich people?" Looking at the number of applicants for Olpapo with a 1 billion won profit

[Financial News] The competition rate for the unscheduled subscription of 'Olympic Park Foreon' in Gangdong-gu, Seoul, which is expected to yield a profit of 1 billion won upon winning, was an average of 56,000 to 1. 
According to the Korea Real Estate Agency subscription home on the 12th, the unscheduled subscription for Olympic Park Foreon, which received applications for two days on the 10th and 11th, attracted 224,693 people for 4 households, showing a competition rate of 56,173 to 1.
By exclusive area type, △39.95㎡A (1 household) recorded 46,425 people △59.99㎡A (1 household) recorded 69,106 people. The only two households that came out, 84.98㎡E, received 109,162 applications, with a competition rate of 54,581 to 1.
This complex, reconstructed from Dunchon Jugong Apartment, is the largest in Korea with a total of 12,000 households.
The supply price is at the 2022 level, which was the initial sale price, with △39A type at 694.4 million won △59A type at 1.0519 billion won △84E type ranging from 1.236 billion to 1.2933 billion won.
The complex has not received a preservation registration, making it impossible to prepare the balance with a housing mortgage loan. Also, due to the loan regulations implemented from the 28th of last month, housing mortgage loans are only possible up to 600 million won, so there is a high possibility that the subscription winners will have to prepare the sale price entirely in cash.

going@fnnews.com Choi Ga-young Reporter