A 99-square-meter apartment worth 1.3 billion won is being sold for 900 million won... Who is eligible for Dongdaemun's lottery-style subscription?

\r\n\r\n
[Financial News] As lottery-style apartment subscriptions draw attention in the market, a no-priority subscription offering in Dongdaemun District, Seoul, is expected to generate a capital gain of at least about 400 million won. Eligible applicants must be homeless household heads residing in the Seoul Metropolitan Government.
According to Cheongyak Home on the 5th, applications for two lottery-style units at 'Raemian La Grande' in Imun-dong, Dongdaemun District, Seoul, will be accepted over two days, from the 12th to the 13th. The complex is an apartment development built through the redevelopment of Imun District 1. It is a large complex with 3,069 households that moved in in January 2025.
\r\n\r\nThis latest lottery-style offering is being made through a resale of units tied to illegal activity. The no-priority subscription supply includes one general unit of 55 square meters and one special-supply unit of 74 square meters for elderly parent support. Applications for the special supply will be received on the 12th, and general applications on the 13th.
The sale prices are 883 million won for the 55-square-meter unit and 958 million won for the 74-square-meter unit. Trading has been sluggish. The 55-square-meter unit last changed hands in March last year for 990 million won. For the 74-square-meter unit, the most recent transaction was in the 1.3 billion won range in the second half of last year. Industry watchers say the surrounding market prices suggest a capital gain of 400 million to 500 million won could be expected.
\r\n\r\n
Applicants must be homeless household heads living in Seoul Metropolitan Government. For the special supply, applicants must be homeless household heads who meet the requirements for elderly parent support. Move-in is scheduled for June 2026. A 20% down payment is required, and the remaining 80% must be paid upon move-in.
The re-subscription restriction period is 10 years, the resale restriction period is three years, and there is no requirement to live in the unit. In the first-round subscription conducted in August 2023, 37,024 people applied for 468 units, recording an average competition ratio of 79.1 to 1.
Meanwhile, according to Cheongyak Home, a second round of lottery-style subscriptions for 'The Sharp Bundang Centro,' which recently accepted applications in Bundang, will also be held. The offering covers nine unsold units. Earlier, the complex sold 84 units through general sales. A lottery-style subscription was also held for 50 units in February.
ljb@fnnews.com Lee Jong-bae Reporter