"Win and Make 1 Billion Won Instantly"... The Subscription War Fueled by 1.2 Billion Won in Cash [Real Estate AtoZ]

Over 100,000 Apply for Special and First-Priority Subscriptions,
with Competition Ratios Reaching as High as 762:1
Minimum Capital Gain of Over 1 Billion Won Expected Compared to Nearby Complexes
"Safe Margin" Expectations Outweigh Regulations, C

Following the June 27 loan regulations, "Jamsil Le El" in Songpa-gu became the first new apartment complex in the Gangnam area to open for sale, attracting nearly 70,000 first-priority subscription applicants and achieving remarkable popularity. Despite the burden of having to prepare over 1 billion won in cash to secure a unit, expectations of a "lottery subscription" outweighed the impact of the regulations.

Jamsil Le El Two Cido. Lotte Construction.

According to the Korea Real Estate Board's subscription website on September 2, a total of 69,476 people applied for the 110 available units in the first-priority subscription for Jamsil Le El held the previous day, resulting in an average competition ratio of 631.6 to 1. In particular, for the 43 units of the 59㎡B type, 32,755 people applied, marking the highest competition ratio at 761.7 to 1. The 74㎡B (691.2 to 1) and 74㎡C (596.9 to 1) types also saw over 10,000 applicants each, continuing the strong demand.

In the earlier special supply subscription held on August 29, 36,695 people applied for 106 units, resulting in an average competition ratio of 346 to 1. Combining both rounds, more than 100,000 people competed for Jamsil Le El.

Jamsil Le El is a redevelopment project of the "Jamsil Miseong·Clover Apartments" in Sincheon-dong, Songpa-gu. The complex will consist of 13 buildings with up to 35 floors, totaling 1,865 units. Of these, 216 units are available for general sale. The sale price for the 74㎡ units, subject to price caps, is set at around 1.8 billion won. Considering that a 74㎡ unit at the nearby "Jamsil Raemian Ipark" recently sold for 3.1 billion won, buyers can expect at least a 1 billion won profit margin.

The main issue is the loan restriction. Under the June 27 measures, the mortgage loan limit for homes in the Seoul metropolitan area and regulated zones is capped at 600 million won. Given the sale price of a 74㎡ unit, successful applicants must prepare at least 1.2 billion won in cash. Despite the practical impossibility of relying on loans, the subscription craze has intensified, demonstrating the strong expectation for a "safe margin" in the Gangnam area housing market.

The winners for Jamsil Le El will be announced on September 9, with official contracts scheduled for September 22 to 24. Move-in is expected in January 2026.