Yeoksam Central Xi First-Round Subscription Sees 487-to-1 Competition... Winners Could Gain 1 Billion Won [Real Estate AtoZ]

21,432 Applicants Rush to First-Round Subscription
59㎡ Unit Sees Highest Competition at 1,692.3 to 1

Aerial view of Yeoksam Central Xi in Gangnam-gu, Seoul. GS Engineering & Construction

More than 21,000 applicants flocked to the first-round subscription for "Yeoksam Central Xi" in Yeoksam-dong, Gangnam-gu, Seoul, where a maximum capital gain of up to 1 billion won is expected for successful applicants.

According to the Korea Real Estate Board's subscription portal on December 17, a total of 21,432 people applied for the first-round subscription for Yeoksam Central Xi, which was held the previous day, competing for 44 available units. The average competition ratio reached 487.1 to 1. By housing type, the 59㎡ exclusive unit saw the highest competition at 1,692.3 to 1, followed by 84㎡A (467.5 to 1), 84㎡D (154.0 to 1), 84㎡C (141.0 to 1), 84㎡B (115.5 to 1), and 122㎡ (109.6 to 1).

The complex is subject to the presale price ceiling system. The highest supply prices are set at 2.012 billion won for the 59㎡ unit, 2.813 billion won for the 84㎡ unit, and 3.798 billion won for the 122㎡ unit. These prices are estimated to be about 800 to 900 million won lower than nearby complexes. With the addition of a new-build premium, it is analyzed that the price gap could exceed 1 billion won.

However, due to the October 15th measures, the maximum possible mortgage loan amount is reduced according to the housing price, allowing up to 400 million won for the 59㎡ unit and up to 200 million won for the 84㎡ unit. There is a three-year resale restriction period until the transfer of ownership registration, and a two-year mandatory occupancy requirement after moving in. Although a high level of liquidity is required, it is interpreted that many end-users applied due to the potential for capital gains and other advantages.

In the special supply held the previous day, 11,007 people applied for 43 units, resulting in a competition ratio of 255.9 to 1. By type, the most applicants were for first-time homebuyers (4,884), newlyweds (4,382), multi-child families (1,629), households supporting elderly parents (87), and institutional recommendations (25).

Yeoksam Central Xi consists 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㎡ are offered for general sale. The subscription process began with special supply on December 15, followed by first-round local priority on December 16, first-round other regions on December 17, and second-round subscription on December 18. Winners will be announced on December 24, and the formal contract period is scheduled for January 5 to 7 next year. Move-in is expected in August 2028.

The complex is located within walking distance of Hanti Station on the Suin-Bundang Line and Seolleung Station, an interchange for Line 2 and the Suin-Bundang Line. It is also close to Dogok Elementary School, Yeoksam Middle School, Dogok Middle School, Dankook University Affiliated Middle and High School, Jinseon Girls' Middle and High School, and the Daechi-dong private education district.

Shopping and cultural facilities such as Emart Yeoksam Branch, Lotte Department Store Gangnam Branch, and Lotte Cinema Dogok Branch, as well as top-tier general hospitals like Samsung Medical Center and Gangnam Severance Hospital, are also within walking distance. The area around the complex is surrounded by natural environments including Maebongsan Mountain, Dogok Neighborhood Park, and Yangjaecheon Stream.