58,684 Applicants Flood First-Priority Subscription
59㎡B Type Records 233.08 to 1 Ratio
Hyundai Construction's 'DH Bangbae' in Bangbae-dong, Seocho-gu, Seoul, recorded an average subscription rate of 90.28 to 1 for the first-priority application.
According to the Real Estate Agency's subscription homepage on the 27th, the first-priority (local area) subscription received 58,684 applicants for 650 units. The highest competition rate was for the 59㎡B exclusive type, recording 233.08 to 1.
In the special supply subscription held the previous day, 28,074 applicants applied for 594 units, closing with an average competition rate of 47.26 to 1. For the 105 units allocated for first-time homebuyers under special supply, 13,361 applied, achieving a high competition rate of 127.25 to 1.
The number of subscriptions for DH Bangbae is the second highest in the past 20 years among complexes in Seocho-gu and Gangnam-gu, following Raemian Onepentas. Despite concerns about insufficient safety margin compared to Banpo due to its location in Bangbae-dong, where older apartments are concentrated, many applicants gathered.
DH Bangbae is subject to the price ceiling system, but since the sale price is higher than the market price, there is no obligation for actual residence. The sale prices are up to 1.7258 billion KRW for the 59㎡ exclusive area, 2.2435 billion KRW for 84㎡, 2.5 billion KRW for 101㎡, and 2.7625 billion KRW for 114㎡.
DH Bangbae is a complex reconstructed from Bangbae 5 District, consisting of 29 buildings from 4 basement floors to 33 above-ground floors, with a total of 3,064 units ranging from 59 to 175㎡ exclusive area. The general sale units are 1,244 units ranging from 59 to 114㎡ exclusive area. The announcement of winners will be on the 4th of next month, and the official contract period will be held for 8 days from the 19th to the 26th of next month.
A sales official said, "DH Bangbae is a complex introduced in Seocho-gu, one of the three Gangnam districts, and many buyers have been waiting for its sale for a long time. It has high price competitiveness compared to surrounding market prices and no obligation for actual residence, minimizing financial burden, so contracts are expected to proceed smoothly."
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