17,000 subscription accounts for 'Acro Ritz County' special sale... Average competition ratio 251 to 1

Over 10,000 subscription accounts were submitted for the special supply application of 'Acro Ritz County' in Bangbae-dong, Seocho-gu, Seoul.

'Acro Ritz County' perspective / Image courtesy of DL E&C

According to the Korea Real Estate Board's subscription homepage on the 10th, Acro Ritz County recorded an average competition rate of 251.4 to 1, with a total of 17,349 applicants for 69 households in the special supply held the previous day.

In particular, 8,053 people applied for the special supply for first-time homebuyers, which was allocated 12 households, showing a competition rate of 671.1 to 1. The competition rate for newlywed special supply (25 households) was 263.2 to 1. This was followed by multi-child families (2,468 applicants for 14 households), elderly parent support (199 applicants for 4 households), and institution recommendation (49 applicants for 14 households).

The complex will accept first-priority applications from the relevant area on the day and first-priority applications from other areas on the 11th. Winners will be announced on the 18th, and official contracts will be conducted from the 29th to the 31st. The sale price was set at around 2.17 billion KRW for an exclusive area of 84㎡. Nearby, 'Bangbae Grangjai' (758 households), completed in 2021 with the same area, recently traded at 2.93 billion KRW, suggesting an expected price difference of around 800 million KRW. The price ceiling system applies, and there is no obligation for actual residence. It is possible to rent out immediately after moving in.

Acro Ritz County is a complex rebuilt from Bangbae Samik Apartment, consisting of 8 buildings from 5 basement floors to 27 above-ground floors, with a total of 707 households ranging from 44 to 144㎡ in exclusive area. Among them, 140 households are for general sale. The construction company is DL E&C.

Within a 400m radius of the complex is Bangbae Station on Subway Line 2, and by car, access to Nambu Beltway, Gangnam Beltway Urban Expressway, and Gyeongbu Expressway is convenient. The complex includes a daycare center, and within a 1km radius, residents can enjoy the Gangnam 8 school districts such as Bangil Elementary School, Seocho Middle School, and Sangmun High School. Nearby, there are abundant green spaces such as Umyeonsan Mountain and Seoripul Park.