'1 Billion Lotto' Yeoksam Central Xi, Special Supply Competition Rate Averages 256 to 1 [Real Estate AtoZ]

Record Competition Ratio of 697 to 1 for First-Time Homebuyers
First-Priority Subscription on December 17

More than 10,000 applicants flocked to the special supply for "Yeoksam Central Xi" in Yeoksam-dong, Gangnam-gu, which is considered a subscription complex where buyers can enjoy up to 1 billion won in capital gains.

According to the Korea Real Estate Board's Cheongyak Home on December 16, a total of 11,007 people applied for the 43 units offered in the special supply of Yeoksam Central Xi held the previous day, resulting in a competition ratio of 255.98 to 1.

Perspective view of Yeoksam Central Xi. Provided by GS Engineering & Construction

By category, the competition ratio was 697.71 to 1 for first-time homebuyers and 257.76 to 1 for newlyweds. This far exceeds the overall average competition ratio of 86.45 to 1 for the special supply of "Banpo Raemian Trini One" in Banpo-dong, Seocho-gu, which was offered in October.

Yeoksam Central Xi will consist of four buildings with three basement levels and 17 above-ground floors, totaling 237 units. Of these, 87 units with exclusive areas ranging from 59 to 122 square meters will be available for general sale.

The highest sale prices are set at 2.012 billion won for 59 square meters of exclusive area, 2.813 billion won for 84 square meters, and 3.798 billion won for 122 square meters.

Given that a 59-square-meter unit at Yeoksam Raemian nearby was sold for 2.9 billion won last month, and an 84-square-meter unit at Yeoksam Prugio set a record price of 3.35 billion won in October, several hundred million won in capital gains are expected.

Yeoksam Central Xi is a station-area complex within walking distance of Hanti Station on the Suin-Bundang Line and Seolleung Station, which is an interchange for Line 2 and the Suin-Bundang Line. The area is also known for its educational environment, with Dogok Elementary School, Yeoksam Middle School, Dogok Middle School, and Jinseon Girls' Middle and High School nearby, as well as close proximity to the Daechi-dong private education district.

The subscription schedule will proceed as follows: first-priority for residents of the area on December 16, first-priority for other areas on December 17, and second-priority on December 18. Winners will be announced on December 24. Move-in is scheduled for August 2028.