The special supply application for 'Otiere Foret' in Seongdong-gu, Seoul, which avoided the 6·27 loan regulation, attracted a surge in demand and recorded a high average competition ratio of over 200 to 1.
According to Korea Real Estate Board's Cheongyak Home on July 7, a total of 11,181 people (excluding preliminary candidates recommended by institutions) applied for 48 units offered in the Otiere Foret special supply held that day, resulting in an average competition ratio of 232.9 to 1.
The highest competition was for the 84.99㎡ A-type unit, where 1,355 people applied for 4 units, resulting in a competition ratio of 338.8 to 1. This was followed by ▲49.88㎡ at 300.7 to 1, ▲39.96㎡ at 285.7 to 1, and ▲59.96㎡ A-type at 239.3 to 1, indicating fierce competition across all types.
Otiere Foret is an apartment complex being built by POSCO E&C in Seongsu-dong 1-ga, Seoul, with three buildings ranging from three basement floors to 20 above-ground floors, totaling 287 units, of which 88 units are available for general sale. The sales price is set at approximately 1.8 billion won for an exclusive 83㎡ unit.
The announcement was made on June 27, just one day before the regulation limiting mortgage loan amounts to sales prices of 600 million won or less took effect, thereby avoiding the restriction. As a result, buyers with greater borrowing capacity flocked to the project. If the regulation had applied, at least 1.2 billion won in cash would have been required.
Meanwhile, on the same day, 'Rivercent Prugio Weave' in Yeongdeungpo-gu received 8,066 applications for 92 special supply units, resulting in an average competition ratio of 87.7 to 1. Although this complex also avoided the 6·27 regulation, demand was more concentrated in key areas such as Gangnam and Mayongseong (Mapo, Yongsan, Seongdong), so the competition ratio remained lower than that of Otiere Foret.
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