50 Remaining Households Available
17% of General Sale Units
Order Likely to Go to Backup Winners
At 'Raemian Onepentas' in Banpo-dong, Seocho-gu, Seoul, which recorded a high subscription competition rate with a market price difference of around 2 billion KRW, cases of disqualification cancellations or contract withdrawals have been occurring frequently. It is suggested that some have given up contracts due to the government's announcement of a full investigation into fraudulent subscriptions and difficulties in financing caused by the high sale price.
As of the 23rd, the Raemian Onepentas sales website shows that the remaining units due to disqualification and contract withdrawal total 50 households. This accounts for 17% of the total 292 general sale units. There are 29 units from special supply and 21 units from general supply. Remaining units have appeared evenly across all housing types with exclusive areas ranging from 59 to 137㎡.
This complex, which held subscriptions at the end of last month, attracted 130,000 applicants only in the first priority subscription for special and general supply. For the 178 units recruited in the first priority general supply, 93,864 people applied, recording a fierce competition rate of 527.3 to 1. There were three applicants with perfect subscription scores, and except for the 137㎡ B type, the lowest winning score exceeded 70 points.
The popularity was due to the application of the price ceiling system, which was expected to yield tens of billions of KRW in market price gains. The average sale price per 3.3㎡ was 67.36 million KRW, with an exclusive 84㎡ unit priced over 2 billion KRW, which was about 2 billion KRW cheaper than nearby market prices. Nearby Raemian One Bailey is trading 84㎡ units in the 4 billion KRW range.
However, during the winner contract process held from the 19th to the 21st, 50 people dropped out. According to document reviews, it appears that some were disqualified and had their winning status canceled, or voluntarily gave up contracts due to financial burdens. This complex is a post-sale complex, requiring final payment and move-in by October 20. The Ministry of Land, Infrastructure and Transport's decision to conduct a full investigation amid suspicions of fraudulent subscriptions such as false address registration, given the high subscription score cut-off, is also believed by the industry to have influenced contract withdrawals.
The remaining units will be given priority to reserve winners. To prepare for disqualified winners, 500% of the supply volume will be selected as reserve winners. If some reserve winners also give up, and the units are not fully filled, a no-order subscription may be offered.
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