The subscription market is heating up with tens of thousands of people flocking to new apartments in the metropolitan area. About 80,000 people came to apply for the first prize for ‘Jamsil Raemian I-Park‘ in Sincheon-dong, Songpa-gu, Seoul, and nearly 20,000 people also applied for ‘Raemian Songdo Station Centripole’ in the Okryeon-dong, Yeonsu-gu , Incheon. Competition is becoming increasingly fierce as one after another ‘lotto complexes’ subscriptions are made, which are expected to result in market profits of hundreds of millions of people. On the other hand, some local institutions are suffering from poor performance in the membership market. Experts predicted, “The good and the bad will still be ‘sorted out’ by region by location, selling price, etc.”
Tens of thousands of people ‘rumble’ at Jamsil membership
According to the Korea Real Estate Agency subscription website on the 22nd, 82,487 people applied for the first priority subscription for 307 homes at ‘Jamsil Raemian I-Park’ which was held on this day. The average competition rate is 268.7 to 1. Over two days, 121,965 people took out their membership accounts, including 39,478 people who subscribed to the special provision implemented the a day before. This building, which is rebuilding the Jamsil Jinju Apartments, will consist of 23 buildings, 4 floors underground and 35 floors above ground, with a total of 2,678 homes. Among these, 589 homes with a specific area of 43 to 104 m2 will be given to the public.
The sales price for a special 84㎡ unit is in the range of 1.8 to 1.9 billion won, which is lower than the nearby market price due to the sales price cap system. According to the actual transaction price disclosure system of the Ministry of Land, Infrastructure and Transport, 84㎡ only for ‘Park Rio’ in Sincheon-dong changed hands last month for 2.17 billion to 2.35 billion on win Since the supply of new houses in Jamsil and Sincheon-dong areas is very rare, analysis suggests that the winner will get a market profit of at least 500 million won.
On the same day, 18,957 people applied for the rental of 611 homes for ‘Raemian Songdo Station Centripole’, the first to receive subscriptions, recording a competition rate of 31 to 1. This is the first building to be will be provided among the sites of an urban development project in the Songdo Station area of Okryeon-dong. A total of 2,549 homes will be built over three blocks. First, we will provide 3 blocks with 2 floors underground and 39 floors above ground, 6 buildings, and 1,024 homes (exclusive area of 59~101㎡). Blocks 1 and 2 are expected to be sold sequentially in the future. The building is next to Songdo Station on the Suin Bundang Line. Songdo Station is expected to be connected to the KTX from Incheon and the Wolgot Pangyo Line, so it has been evaluated as a competitive location.
On the other hand, in five regional centers, including Busan, Daejeon, and Ulsan, the number of first-choice applicants was less than the number of employed households.
Location and price must be carefully considered.
Experts believe that the situation will continue in the subscription market, where there are a large number of customers in major metropolitan areas such as Seoul, while sub-selection centers appear one after another in areas regional, at this time. As a result of the government’s policy to strengthen household debt management, overall housing demand has decreased and the number of properties for sale has an indirect effect on the membership market. In rural areas, unsold inventory continues to accumulate.
However, some local properties with excellent locations or provided at a price below the market price are still chosen by consumers. The average competition rating for the first and second place for ‘Wonju Station Woomirin The Sky’ in Musil-dong, Wonju-si, Gangwon-do, awarded early this month, is 12.1 to 1.
Park Ji-min, CEO of Wolyong Subscription Research Institute explained, “It is not true that subscriptions are low in all specific areas, but different patterns appear in each apartment building and the sales price compared to market price.”
Reporter Kim So-hyun alpha@hankyung.com
2024-10-22 15:38:00
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