If You Win, 500 Million Won Profit... Two Households Got 'Jupjup' at Heukseok Xi

Non-priority (jumjum) subscription units have been released in Heukseok-dong, Dongjak-gu, Seoul. Since a minimum market price gain of around 500 million KRW can be expected upon winning, the subscriptions are attracting significant attention from applicants.

Perspective view of Heukseok River Park Xi.
[Photo by GS Construction]

According to the Korea Real Estate Board's Subscription Home on the 19th, general subscriptions for a total of two units, including one contract cancellation unit and one non-priority subscription unit, will be held on the 26th in Heukseok-dong, Dongjak-gu, Seoul, at Heukseok River Park Xi.

Heukseok Xi recorded an average competition rate of 95.9 to 1 in the first priority subscription during its sale in May 2020. It is a large complex consisting of 26 buildings and 1,772 units, and the prices for these two units are set based on the 2022 sale prices.

The 59㎡ unit is available through non-priority subscription, meaning anyone nationwide can apply regardless of subscription savings account status or home ownership. The 84㎡ unit is a contract cancellation unit due to violation of the Housing Act, and only Seoul citizens who are non-homeowners can apply.

The sale prices for the units released as 'jumjum' are 646.5 million KRW for the 59㎡ unit and 963.5 million KRW for the 84㎡ unit.

The 59㎡ sale right was traded for 1.17 billion KRW in March, raising expectations that winners can gain more than 500 million KRW in market price difference. Although there are no actual transaction records yet for the 84㎡ unit, considering the lowest asking price is around 1.6 billion KRW, winners can expect a profit of 500 to 600 million KRW or more.

The announcement date for contract cancellation unit winners is the 29th, and for non-priority units, the 30th. Upon winning, 20% of the sale price must be paid at contract signing, and the remaining 80% must be paid by September 7.