From First Priority to Jupjup... Nationwide Subscription Fever

[Asia Economy Reporter Donghyun Choi] The enthusiasm for subscription in the new housing market shows no signs of cooling down. Not only in the metropolitan area but also in the provinces, triple-digit competition rates continue to appear, and in the so-called "Zupzup" non-priority subscriptions, hundreds of thousands of people flocked, causing website access delays.

According to the Korea Real Estate Agency's subscription homepage on the 4th, 'Hanam Gam-il Hanyang Sujain' in Gam-il District, Hanam City, where first-priority subscriptions were held the previous day, received 17,844 applications for 293 households (excluding special supply), recording an average competition rate of 60.9 to 1. Considering that it is a complex with a 5-year resale restriction, all households are composed of a single area of 84㎡ (exclusive area), and a 100% point system is applied, this is a considerable competition rate.

On the same day, 'Daegu Yongsan Xi' in Yongsan-dong, Dalseo-gu, Daegu, where first-priority subscriptions were held, received 30,947 applications for 270 households, reaching an average competition rate of 114.6 to 1. In the 84㎡ A type, 66 units were supplied, and only in the relevant area, 14,959 people applied, recording the highest competition rate of 226.7 to 1. Dalseo-gu is a non-regulated area, so if the subscription deposit and Daegu residency period are met, even non-household heads can apply for first-priority subscriptions, which is interpreted as attracting many applicants. Even one-household owners can apply for first-priority subscriptions on the condition of disposing of existing housing before moving in.

Besides these complexes, recently, high subscription competition rates have been recorded in every complex supplied in the metropolitan area and provinces. Earlier, on the 2nd, 'Dongtan Station Heriot' in Dongtan 2 New Town, Hwaseong, Gyeonggi Province, which received first-priority subscriptions, attracted 56,047 applicants for 375 households, showing an average competition rate of 149.5 to 1. On the same day, 'Hwaseo Station Prugio Brichiel' in Jeongja-dong, Suwon City, 'Anyang Hogye Shinwon Achim City' in Hogye-dong, Anyang City, 'Daejeon Dungok Woomirin' in Guryong-dong, Yuseong-gu, Daejeon, 'Dasa Station Kumho Eoullim Central' in Dasa-eup, Dalseong-gun, Daegu, and 'Namcheon Woosung Smart City View' in Namcheon-dong, Suyeong-gu, Busan were all closed within the ranking.

Competition in non-priority subscriptions is becoming even fiercer. The day before, for the non-priority subscription of 3 disqualified winning households (75㎡ A) of 'Yeongtong Xi' in Mangpo 5 District, Yeongtong-gu, Suwon City, 101,590 people applied. The competition rate was an astonishing 33,863 to 1. Due to the surge in access to the homepage and application conducting the non-priority subscription that day, GS Construction extended the closing time by one hour.

Last month, 'Acro Seoul Forest' in Seongsu-dong, Seoul, which conducted a non-priority subscription, attracted about 260,000 people for 3 households, setting the highest record for non-priority subscription applicants ever. The non-priority subscription for 'Cheongna Hills Xi' in Daegu also attracted about 43,600 people for 2 households, and 'Hillstate Songdo The Sky' in Incheon attracted about 58,000 applicants for 50 households.