With the upcoming revision of the non-ranked application system known as 'Jjubjub,' over 500,000 applicants flocked to a non-ranked apartment application in Sejong City.
According to the Korea Real Estate Board's application home on the 7th, 568,735 people applied for one non-ranked unit in the 84㎡ type of Hillstate Sejong River Park (Administrative Complex City 3-3 Living Zone H3 Block), which is to be supplied in Sodam-dong, Sejong City, the previous day.
This complex is priced at 321 million won based on the 84㎡ standard, which is evaluated to be 300 million to 400 million won cheaper compared to nearby complexes. It was referred to as a 'lotto application' since winning could yield a minimum profit of 300 million won. On the 7th, a non-ranked application for one unit in Hillstate Sejong River Park H4 Block (exclusive area 105㎡) will also be conducted. The supply price is set at 399 million won, which is equivalent to the 2017 sale price level. The recent actual transaction price was 800 million won in December of last year, suggesting an expected price difference of about 400 million won.
Meanwhile, the government plans to announce a revision that strengthens the system, such as prohibiting current homeowners from supporting non-ranked applications.