[Asia Economy Reporter Yuri Kim] A perfect score winner (84 points) has emerged in the Seoul apartment subscription lottery. This is the second case in Seoul this year. As the subscription market overheats recently, not only the highest winning score but also the cutoff score (minimum winning score) is soaring.
According to the Korea Real Estate Board's subscription homepage on the 9th, the announcement of winners for 'Sinmokdong Paragon,' supplied by Dongyang Construction Industry in the Sinwol 2-dong area of Yangcheon-gu, Seoul, showed a perfect score of 84 points in the 84㎡ (exclusive area) A-type. The highest winning scores for the other four housing types ranged from 69 to 74 points. The average winning scores by housing type were all above 60 points, ranging from 61.9 to 70 points. The lowest winning score was 59 points.
To achieve a 'perfect subscription score,' one must have a non-homeownership period of over 15 years (32 points), at least 6 dependents (35 points), and a subscription savings account membership period of over 15 years (17 points). Including the head of the household, the family registered on the resident registration certificate must be at least 7 members.
In Seoul, after a perfect score winner appeared at 'Heukseok River Park Xi,' redeveloping Heukseok 3 district in Heukseok-dong, Dongjak-gu in May, a perfect score winner used their subscription account again after about three months. This is the third perfect score winner in all subscriptions this year. In February, a perfect score winner also appeared at 'Maegyo Station Prugio SK View' in Suwon, Gyeonggi Province.
Sinmokdong Paragon was called a 'lottery apartment' from the time of subscription, attracting many waiting applicants. The apartment's sale price was an average of 20.6 million KRW per 3.3㎡. Compared to the nearby 'Mokdong Central I-Park Weave' 84㎡ resale market price, it was about 400 million KRW cheaper. In the first priority subscription, 12,334 people applied for 84 units, recording an average competition rate of 146.8 to 1. In the special supply subscription, 5,832 people applied for 69 units, showing an average competition rate of 84.5 to 1.
Recently, as real demand buyers' attention has focused on 'lottery sales,' the 'score inflation' has intensified. According to a recent Real Today survey, the average cutoff score for 12 sites supplied in Seoul from July to August this year was 62.7 points, 6.8 points higher than the average winning cutoff score of 55.9 points in the first half of this year.
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