20,000 Housing Units to Be Offered in February... "Magok, Gwacheon, Wirye, and More Draw Attention"

On the 20th, the "Hoban Summit Songpa" promotional center in Wirye New Town, which opened at the Hoban Construction headquarters in Seocho-gu, Seoul, is bustling with visitors. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kim Yuri] The apartment subscription market, which experienced a one-month hiatus due to the transfer of subscription tasks, will reopen in February. Intense competition is expected as regions attracting the attention of subscription applicants, such as Magok District in Gangseo-gu, Seoul?known as the "Lotto Subscription"?Gwachon Knowledge Information Town in Gyeonggi, and Wirye New Town in Hanam, begin their subscription processes one after another.

According to Real Estate 114 on the 28th, a total of 19,801 households (including rental units) nationwide are scheduled for subscription in February. Of these, 9,112 households are in the metropolitan area and 10,689 households are in other regions, including 4,239 in Gyeonggi, 3,364 in Daegu, 3,344 in Incheon, 2,885 in Gyeongnam, and 1,529 in Seoul.

The only apartment complex opening subscriptions in Seoul in February is Magok 9th Complex in Gangseo-gu. As the final supply in the Magok District and a public subscription, it will be offered at about 70-80% of the surrounding market price. The large complex consists of 19 buildings with 16 floors each, totaling 1,529 households, of which 962 are general subscription units excluding 567 rental units. It is composed only of small to medium-sized units of 59㎡ and 84㎡ (exclusive area). The subscription price for the 84㎡ units is around 700 million to 800 million KRW, and considering that the surrounding market price exceeds 1 billion KRW, a minimum profit of 200 million to 300 million KRW is expected. The recruitment announcement will be made on the 5th of next month, followed by special subscription applications on the 18th and 19th, and general subscription applications on the 26th and 27th.

In the metropolitan area, there is strong interest in Gwachon Jade Xi in Gyeonggi and Wirye New Town Joongheung S-Class in Hanam, Gyeonggi. Gwachon Jade Xi is located in S9 Block of Gwachon Knowledge Information Town, consisting of 7 buildings with 2 basement floors and up to 25 floors above ground, with 49-59㎡ units totaling 647 households. There is still disagreement between the construction company and the subscription price review committee regarding the pricing, so the subscription may be delayed. The Wirye New Town Joongheung S-Class, built on A3-10 Block in Wirye New Town, will finalize the specific subscription schedule based on the final review results of the subscription price at the end of this month.

In Incheon, Hillstate Bupyeong in Bupyeong and Hillstate Songdo The Sky in Songdo International City will be supplied in February.

Yeo Kyung-hee, senior researcher at Real Estate 114, said, "In popular metropolitan areas such as Seoul, Gwachon, and Wirye, competition among applicants to win apartment subscriptions will intensify," adding, "With restrictions on resale, loan regulations, and strengthened residency requirements, the entry barriers to the subscription market have increased, which may lead some investment demand to flow into local areas such as Busan, Daejeon, and Gwangju."