More than 20,000 applicants crowded into first-priority subscriptions for Yeoksam Central Xi in Gangnam-gu, Seoul.
According to the Korea Real Estate Board (REB) Cheongyak Home on the 16th, 21,432 people applied for 44 homes in the first-priority subscriptions for Yeoksam Central Xi held that day. All dwelling types closed with an average competition rate of 487.1 to 1.
By dwelling type, the exclusive 59㎡ logged the highest competition rate at 1,692.3 to 1. It was followed by the exclusive 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).
With the price cap system applied, prices were set at up to 2.012 billion won for the exclusive 59㎡ type, 2.697–2.813 billion won for the 84㎡ type, and 3.798 billion won for the 122㎡ type.
Although loan regulations under the Oct. 15 measures require considerable cash on hand, the potential for large capital gains appears to have driven many end users to apply.
In the previous month, a 59㎡ exclusive unit at Yeoksam Prugio near Yeoksam Central Xi sold for 2.96 billion won (24th floor). A 84㎡ exclusive unit at Gaenari Raemian sold for 3.5 billion won (7th floor).
In the special supply held on the 15th, 11,007 people applied for 43 homes, posting a high competition rate of 255.9 to 1. By type, the largest number of applicants were for first-time homebuyers (4,884).
Meanwhile, the complex will consist of four buildings with three underground floors to 17 above-ground floors, totaling 237 homes. Eighty-seven homes were offered for general sale. Move-in is scheduled for Aug. 2028.