57 Million People Apply for One Unranked Apartment Unit in Sejong

Subscription Website Experiences Access Disruptions
Due to Massive Number of Applicants

Panoramic view of the Administrative City (Provided by LH)

More than 560,000 applicants flooded the non-priority subscription recruitment for an apartment in Sejong City.

According to the Korea Real Estate Board's subscription website on the 6th, 568,735 people applied for one non-priority unit of the 84㎡ type at 'Hillstate Sejong River Park' (Administrative City 3-3 Living Zone H3 Block) supplied in Sodam-dong, Sejong City.

This complex is priced at 321 million KRW for the 84㎡ unit, which is evaluated to be 300 to 400 million KRW cheaper compared to nearby complexes. This means that if selected, one can gain at least 300 million KRW in profit.

With so many applicants applying at once, the subscription website experienced access disruptions for a time in the morning.

Previously, in July last year, the subscription website server was paralyzed due to a surge in access when 'Dongtan Station Lotte Castle' in Gyeonggi-do, 'Raemian One Pentas' in Seocho-gu, Seoul, and 'Hoban Summit Mokdong' in Yangcheon-gu held 'lottery subscriptions' on the same day.

The government plans to announce a reform plan next month to strengthen the system, including measures to prevent homeowners from applying for non-priority subscriptions.