"Lottery application" at Samseong Rael sells out, even with a delay... Seems like wealthy people are gathering.

All 10 units of the "Jamsil R.L." (Jamsil Mi-Sung Croba Apartment Reconstruction), which was the first supply in Gangnam, Seoul, after the June 27 loan regulations last year, were sold out.

According to industry sources, including Lotte Construction, the Jamsil Miseong Croba Apartment reconstruction consortium completed the sale of a total of 10 households, consisting of three households of 59 square meters type B and seven households of 74 square meters type B. The bidding, conducted through a highest-price competition method, saw a total of 43 participants, resulting in an average competition ratio of 4.3 to 1. "Holdback units" refer to the inventory left by the consortium in the sales process to prepare for potential errors or disputes during the sales process, and are not sold to the general public. Since they are not subject to the land transaction permit area regulations, there is no two-year residency obligation, allowing for gap investment by paying the remaining balance with a deposit.

The highest selling price was 3.56 billion won for the 59㎡ exclusive area, and 4.03 billion won for the 74㎡ exclusive area. Initially, the bidding benchmark prices were approximately 2.98 billion to 2.992 billion won for the 59㎡ exclusive area, and 3.318 billion to 3.533 billion won for the 74㎡ exclusive area. According to Lotte Construction, all units were sold even though the consortium set the bidding benchmark price about 5% higher than the appraised value. It is analyzed that many cash-rich buyers flocked in, as under last year's October 15 measures, the housing mortgage loan limit for apartments exceeding 2.5 billion won was restricted to 2 billion won.

The bidders first pay 20% of the bid amount as a deposit, and then pay the remaining 80% within the designated move-in period. The contract period is from the 25th to the 27th, and the designated move-in period will be set separately later.

General Park journalist general@kmib.co.kr