>This year, more than 2.9mn people applied within a 48-hour period to bid for a single apartment in the satellite town of Hwaseong just outside Seoul. Real estate markets in other parts of South Korea are characterised by vacant properties and depopulation.
For context, getting this single apartment unit was basically winning a lottery ticket. And says more about using the over-regulated lotto housing system anything.
>The winner was given the opportunity to purchase an 84-square-meter apartment for 482 million won ($354,359), the same price as when it was first sold in 2017.
>The price is about 1 billion won cheaper than its current market value, indicating that the winner could make a substantial financial profit if they choose to sell it.
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This article is all over the place.
>This year, more than 2.9mn people applied within a 48-hour period to bid for a single apartment in the satellite town of Hwaseong just outside Seoul. Real estate markets in other parts of South Korea are characterised by vacant properties and depopulation.
For context, getting this single apartment unit was basically winning a lottery ticket. And says more about using the over-regulated lotto housing system anything.
>The winner was given the opportunity to purchase an 84-square-meter apartment for 482 million won ($354,359), the same price as when it was first sold in 2017.
>The price is about 1 billion won cheaper than its current market value, indicating that the winner could make a substantial financial profit if they choose to sell it.
https://m.koreatimes.co.kr/pages/article.asp?newsIdx=379996