Traffic Surge Crashes LH Subscription Site... Applications Extended Until 5 p.m. on the 25th
No Residency or Resale Restrictions Allow 'Jeonse Gap Investment'... Profit Margin Up to 200 Million Won
Investment Fever in Sejong City Rises Amid Recent 'Capital Relocation' Discussions
An unprecedented situation occurred as a massive influx of traffic crashed the Korea Land and Housing Corporation (LH) subscription website during the open application for unsold units at Familie The Park in Sejong City, which had drawn attention as a '200 million won lottery.' As a result, the subscription period has been extended by one day.
On April 24, LH announced, "We would like to inform you about the access issues with the Cheongyak Plus system due to today's application for the Sejong 6-3M2 block. There was a temporary surge in applicants, causing delays in access, but the system has now been restored and is accessible." LH added, "To ensure stable applications for subscribers, the application period will be extended by one day until 5 p.m. on April 25."
The unsold units that were scheduled to close for application on this day are four apartments in the Sanwulmaeul 5th Complex, Sanwul-dong, Sejong City, known as 'Sejong Familie The Park.' The offering includes three units with an exclusive area of 59 square meters and one unit with an exclusive area of 84 square meters. The sale price is in the 280 million won range for the 59-square-meter units, and about 480 million won for the 84-square-meter unit. There are no requirements for actual residency, no resale restrictions, and no re-winning restrictions, and successful applicants can immediately lease out the property. Interest surged as the potential profit was expected to be around 200 million won compared to the surrounding market prices. In particular, Sejong City is currently considered a hot spot for real estate investment due to recent discussions about relocating the capital.
'Sejong Familie The Park' was first offered for sale in December 2021. It was constructed by a consortium of Shindongah Construction, Dongbu Construction, and Gyeryong Construction Industry, with occupancy beginning in December 2023. The complex consists of 14 buildings, ranging from two basement levels to 29 above-ground floors, with a total of 995 units. The exclusive areas range from 59 to 84 square meters.
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