‘The Sharp Dunchon Foret’ Non-Sequential Subscription Competition Rate 1530 to 1

More than 20,000 people applied for the non-priority subscription of 'The Sharp Dunchon Foret' in Gangdong-gu, Seoul.

The expected bird's-eye view of The Sharp Dunchon Foret.
Photo by POSCO E&C

According to the Korea Real Estate Board's subscription website on the 22nd, the non-priority subscription for The Sharp Dunchon Foret held that day saw 21,429 applicants for 14 units of the 84㎡A exclusive area, resulting in a subscription competition rate of 1530.64 to 1.

Since the 84㎡ occupancy rights for the nearby Dunchon Jugong (Olympic Park Foreon) are traded at around 1.9 to 2 billion KRW, it is observed that demand surged due to expectations of a maximum market price difference of up to 500 million KRW upon winning.

The sale price for the 84㎡A units offered through the non-priority subscription is in the 1.3 billion KRW range.

The announcement of winners will be on the 25th of this month, and contracts will be signed at the promotional center on the 3rd of next month.

The Sharp Dunchon Foret, constructed by POSCO E&C, is a remodeling of Dunchon Hyundai 1st Complex, which succeeded in its first-priority subscription last month with an average competition rate of 93.06 to 1. However, due to a surge in contract cancellations, 14 units were released for non-priority subscription.

Since it is a post-sale apartment, the biggest reason for the surge in contract cancellations was that all remaining payments must be completed before moving in by November.