The Remian Ragrance 'jupjup' (unsold unit) offers a chance to secure a minimum profit of $400,000 (KRW 550 million) with a 100% lottery draw for Seoul residents who are homeowners. However, be prepared to pay the remaining 80% balance within 60 days of the contract. This is not financial advice. Consult a licensed financial advisor.
Why is the Remian Ragrance 'Jupjup' Called a 'Lottery Subscription'?
Remian Ragrance is a massive 3,069-unit complex built from the Imoon 1 District redevelopment. The 'jupjup' units available are from two contract cancellations, now being offered at their original 2023 sale price. This presents a significant profit opportunity, with the 74-type units estimated to yield at least $400,000 (KRW 550 million) in profit based on current market prices, potentially reaching up to $500,000 (KRW 700 million) based on asking prices. The complex was completed and residents moved in January 2025, with an online virtual model home available for viewing. While the 55-type units show a smaller profit of around $70,000 (KRW 100 million) based on actual sales, some industry insiders anticipate a $140,000-$210,000 (KRW 200-300 million) safe margin based on asking prices. However, it's crucial to approach asking prices with caution as they don't always reflect actual transaction values.
What are the Application Requirements for the Remian Ragrance 'Jupjup' Without a Subscription Account?
One of the biggest draws of this 'jupjup' is that it doesn't require a subscription account (like a US escrow account for new construction). Classified as an unsold unit resale, you can apply regardless of your subscription account status or deposit amount. Winners are selected through a 100% lottery, meaning applicants with lower scores (common among younger buyers in their 20s and 30s) have an equal chance. To apply, you must be a Seoul resident aged 19 or older and the primary homeowner (head of household). Both you and your household members must be completely free of homeownership. Household members cannot apply separately. While the 55-type general sale is open to anyone meeting the basic requirements, the 74-type special allocation requires you to have continuously supported elderly parents (aged 65+) for over three years, living in the same registered address. This specific requirement often means lower competition. A significant advantage is the absence of a mandatory residency period. You can rent out the unit after the ownership transfer, which can help manage the balance payment burden.
What are the Financial Plans and Precautions for the Remian Ragrance 'Jupjup'?
The most critical factor is financial planning. This 'jupjup' sale requires a 20% down payment upon contract, with the remaining 80% balance due in full within 60 days. It's essential to have a solid plan for securing these funds before applying. With the current implementation of Stress DSR (Debt Service Ratio) in the Seoul metropolitan area, an additional 3.0% stress interest rate is applied to mortgage loans. This means your actual loan eligibility might be lower than anticipated. While the loan limit for properties under $1.1 million (KRW 1.5 billion) is up to $440,000 (KRW 600 million), your annual income-based DSR limit could be the primary constraint. It's advisable to use online calculators to estimate your borrowing capacity beforehand.
What are the Re-subscription Restrictions and Resale Timelines After Winning?
If you win, a 10-year restriction on re-subscribing for properties in Speculative热区 (Speculative Hot Zones) will apply. This means you'll be barred from applying for new housing in these designated areas for a decade, so careful consideration is necessary. The resale restriction period is 3 years from the initial winner announcement date of August 23, 2023, meaning resale will be permitted after August 23, 2026. This effectively allows resale in about three months, which could be a positive factor. Remember that you will also inherit the costs for balcony expansions and any paid options chosen by the previous winner, so don't overlook these additional expenses beyond the base sale price.
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