'72.09 million KRW per 3.3㎡' Cheongdam Le El 1st Priority Subscription Average Competition Rate 667 to 1

A Total of 56,717 People Applied for 85 Household Recruitment

The 'Cheongdam Le El' apartment complex, located in Cheongdam-dong, Gangnam-gu, Seoul, attracted over 50,000 applicants, recording the highest competition rate among complexes supplied in the Gangnam area this year.

According to the Korea Real Estate Board's subscription website on the 20th, the general supply first-priority subscription for Cheongdam Le El received a total of 56,717 applications for 85 units, resulting in an average competition rate of 667.3 to 1. This surpassed the first-priority competition rate of 527 to 1 for 'Raemian One Pentas' in Banpo-dong, supplied in July, making it the highest competition rate among complexes supplied in the Gangnam area this year.

The 59㎡ B-type units, with 22 units available, received 16,925 applications, recording the highest competition rate of 769 to 1. The special supply held the previous day, with 64 units available, received 20,070 applications, resulting in an average competition rate of 313.6 to 1.

Cheongdam Le El is a complex built by reconstructing the Cheongdam Samik Apartment, consisting of 9 buildings ranging from 4 basement floors to a maximum of 35 floors above ground, with a total of 1,261 units (including rental units) ranging from 49 to 218㎡ in exclusive area. The average sale price per 3.3㎡ is 72.09 million KRW, making it the most expensive among complexes subject to the price ceiling system. The 59㎡ units are priced between 1.739 billion and 2.0198 billion KRW, and the 84㎡ units range from 2.2911 billion to 2.522 billion KRW.

The nearby 'Cheongdam Xi,' which was occupied in 2011, had an 82㎡ unit traded for 3.29 billion KRW (8th floor) in June, leading to expectations of a price difference of around 1 billion KRW compared to the surrounding market prices. The absence of a residence obligation, allowing winners to immediately lease the unit after winning, is also considered a factor that increased the subscription competition rate.