Chuncheon Riverview IPARK Opens First-Tier Subscriptions on the 21st

60% Lottery System Applied to 59㎡ and 84㎡ Units

Finance|
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By Chun Min-a
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Rendering of Chuncheon Riverview I'Park. Photo courtesy of IPARK Hyundai Development Company - Seoul Economic Daily Finance News from South Korea
Rendering of Chuncheon Riverview I'Park. Photo courtesy of IPARK Hyundai Development Company

Chuncheon Riverview IPARK, a housing complex supplied by IPARK Hyundai Development Company in Janghak-ri, Dong-myeon, Chuncheon, Gangwon Province, will begin accepting first-tier subscriptions on the 21st.

Chuncheon Riverview IPARK will be built with two buildings ranging from two basement levels to 27 above-ground floors, totaling 262 units. By exclusive floor area, the complex consists of small and mid-sized housing types with high demand, including 53 units of 59㎡A, 26 units of 59㎡B, 104 units of 84㎡A, and 79 units of 84㎡B.

First-tier subscriptions are open to those aged 19 or older residing in Chuncheon or Gangwon Province as of the 10th of this month, the date of the occupant recruitment announcement, provided they have held a subscription account for six months or more and meet the deposit requirements by region and area. In addition to household heads and household members, existing homeowners can also apply for first-tier subscriptions, and no re-winning restrictions apply. After paying 10% of the contract deposit in full, resale of the subscription rights is possible.

The sales terms set the contract deposit at 5%, with a fixed first contract deposit of 10 million won. A no-interest benefit is provided on the full intermediate payment.

For both 59㎡ and 84㎡ units, winners are selected through a 40% point-based system and a 60% lottery system. According to the company, buyers with low subscription points or those who own homes can also expect to win through the lottery.

The subscription schedule proceeds with first-tier acceptance on the 21st, followed by second-tier acceptance on the 22nd. Winners will be announced on the 29th of this month, and formal contracts will be carried out over three days from the 10th to the 12th of next month.

The complex is located on a main road where Chuncheon-ro and Chuncheon Sunhwan-daero intersect, making travel to major areas in downtown Chuncheon convenient. Using Chuncheon Station on the Gyeongchun Line, residents can travel to Cheongnyangni Station in Seoul.

Elementary, middle, and high schools are located nearby, and the special screening for rural areas can also be applied. Living convenience facilities such as large supermarkets, government offices, and hospitals are easily accessible, and the Soyang River, Manchon Stream, Gubongsan Mountain, Neoulsup Park, and Son Heung-min Sports Park are also nearby.

A sales official at IPARK Hyundai Development Company said, "Given the high preference for IPARK-brand apartments supplied in the Chuncheon area, we expect buyer interest to continue for this complex as well."

The model house is located around 267 Geunhwa-dong, Chuncheon, Gangwon Province.

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Original reporting by Chun Min-a for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

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