[theqoo] IVE AN YUJIN HITS DAEBAK WITH 1.8 BILLION WON IN CAPITAL GAINS... WINS LOTTERY FOR 'DH BANGBAE' UNIT PRICED AT 4 BILLION WON

It has been reported that IVE’s An Yujin was selected in the public housing lottery for “DH Bangbae,” a redevelopment project in the Bangbae 5 District of Seocho-gu, Seoul.

(T/N: South Korea’s new apartment sales often use a subscription system (청약, cheongyak) rather than selling units on a first-come, first-served basis.

1. People apply for a unit. Applicants use a housing subscription account. Popular apartments can receive tens or even hundreds of thousands of applications.

2. Some units are allocated by priority (years of owning home, length of subscription account, etc.)

3. Other units are distributed by lottery. A portion of the apartments are set aside for a random drawing (lottery). This is the category An Yujin reportedly won through.

4. Winners purchase at the official presale price. If the apartment’s market value rises before or after completion, the winner benefits from that increase.

* In this case, she bought an unit for about 2.24 billion won could now own a property worth around 4 billion won, resulting in a profit of about 1.8 billion won.

In Seoul’s most desirable neighborhoods, apartments sold under the government’s price cap are often priced well below market value. Because demand far exceeds supply, winning one through the lottery is often compared to winning the lottery itself, hence headlines describing successful applicants as having “hit the jackpot.”)

original post: here

1. Wow, a subscription systemㅋㅋㅋㅋ

2. People who are bound to be successful will always succeedㅋㅋㅋㅋㅋ

3. Wowwwwww Yujin-ah, congrats

4. So it's possible for an unmarried woman too, huh?

5. It's kinda fascinating how she applied for thisㅋㅋㅋㅋ She's a smart girl

6. Wow, I'm so jealous she won the housing lottery! Congrats, congrats!

7. A skillful girl...

8. She's the epitome of 'a successful person will become successful

9. I couldn't even apply because I have no money... I'm jealous

10. Ah, she's seriously such a smart girlㅋㅋㅋㅋㅋㅋI wish she would stop worrying now. Yujin-ah, congrats

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