A 2.2 billion-won apartment offered at 1.2 billion won—about half price... Gwangjin lottery: a 1 billion-won windfall, applications open today

[Financial News] A no-priority housing subscription at about half the market price will take place today in Seoul's Gwangjin District. Because the unit is being resupplied due to a violation of housing-supply rules, only household heads without homes who reside in Seoul may apply.
According to Cheongyak Home on the 6th, applications will be accepted today for one 84-square-meter exclusive-use Type C unit at GANGBYEON CENTRAL IPARK in Guui-dong, Gwangjin District.
This no-priority subscription is being offered through resupply due to a violation of housing-supply rules. The sale price for general supply (Building 101, Unit 402) is 1.22202 billion won. The down payment is 10%, with the remaining 90% due as the final payment. The restriction on winning another subscription is 10 years, while the resale restriction is three years. There is no mandatory occupancy requirement.


MOLIT transaction data show that this type recorded a record high of 2.25 billion won in June. The potential gain compared with the sale price is about 1 billion won. The most recent transaction price was 2.2 billion won. The complex consists of four buildings with 15 floors above ground and a total of 215 households. It is located between Seoul Subway Line 2's Gangbyeon Station and Guui Station. Move-ins began in September this year.
Previously, two units at the complex were offered through the same type of resupply in June. A total of 77,328 people applied for the two units, producing an average competition ratio of 38,664 to 1.
[email protected] Lee Jong-bae Reporter