More than 80,000 people applied for public opening of 'Jamsil Raemian I-Park'... Competition rate 1 in 269 (Seoul, South Korea)

More than 80,000 people have applied for 307 households that are available for general supply at Jamsil Raemian I-Park in Sinchon-dong, Songpa-gu, Seoul, South Korea.
According to the Korea Real Estate Agency's application website on the 22nd, 82,487 people applied for the first supply of 307 homes at Jamsil Raemian I-Park, which took place that day.
The average competition rate was 1 in 268.7. The D type, with a private area of 84 square meters, which had the most vacancies and was open to 87 households, had 27,287 applications, with an average competition rate of 1 in 313.6.
The 59 square meter A type, which was open to 24 households, attracted 14,190 applicants, with the highest competition rate of 1 in 591.2. The 59 square meter C type also had a competition rate of 415.6 in 1.
Prior to this, the apartment had a special supply the day before, with nearly 40,000 applicants, and the competition rate was 1 in 140.
The complex is a reconstructed apartment building. It will be jointly constructed by Samsung C&T Construction and HDC Hyundai Industrial Development. It will have 23 buildings, 4 basement floors and 35 floors above ground, and will house a total of 2,678 households.
The winners will be announced on the 24th and move in at the end of February. This is the first large-scale new apartment to be built in Jamsil in 20 years. The price is 54.09 million won per 3.3 square meters.
The price is the highest ever for Songpa-gu at about 5.92 million yen, but it is still lower than the prices of apartments in the neighborhood.