[Asia Economy Reporter Lee Chun-hee] Amid the full implementation of the private land sale price ceiling system and various regulations, Seoul's housing supply is close to 'zero,' drawing attention from prospective buyers to large-scale housing complexes in the metropolitan area branded by major construction companies.
According to Zigbang on the 9th, a total of 32,750 households across 41 complexes are scheduled to be supplied nationwide this month, but none of these are in Seoul. This is in stark contrast to Gyeonggi Province, where 15,168 households are planned for sale.
Originally planned for sale this month, the Yeokchon 1 District has been postponed to November. Meanwhile, reconstruction projects in the Gangnam area such as Dunchon Jugong in Gangdong-gu and 'Raemian One Bailey' and 'Raemian One Pentas' in Seocho-gu are all highly likely to be sold post-construction, leaving sales plans uncertain. It seems increasingly likely that there may be no housing complexes launched for sale in Seoul for the next three months until the end of this year.
This is why buyers urgently seeking to secure their own homes are gradually turning their attention to apartments branded by major construction companies in the metropolitan area. The 'major construction company' brands, ranked within the top 10 in the 2020 construction capability evaluation, are also showing strong performance in the subscription market. According to the Korea Real Estate Agency's Subscription Home, among 300 complexes sold from the beginning of this year to September, 87 complexes (including consortiums) branded by major construction companies showed a high competition rate of 39.76 to 1 based on first-priority applications. In contrast, the remaining 213 complexes recorded an average competition rate of only 14.86 to 1 for first-priority applicants.
Even after moving in, these complexes often establish themselves as the 'flagship apartments' of their regions, leading local market prices. According to Real Estate 114, in Suji-gu, Yongin-si, Gyeonggi Province, GS Construction's 'Gwanggyo Sangnok Xi' has an average sale price of 33.05 million KRW per 3.3㎡, nearly double the Suji-gu average of 16.72 million KRW. In Gimpo-si, Gyeonggi Province, Daewoo Construction's 'Pungmu Prugio' far exceeds the city's average sale price of 10.61 million KRW per 3.3㎡, reaching 18.41 million KRW per 3.3㎡.
An industry expert explained, "Generally, major construction companies have solid financial structures, ensuring high stability and sufficient financial capacity to secure excellent locations. Based on extensive construction experience, they apply differentiated designs in floor plans, landscaping, and community facilities, and thorough after-sales management highlights their product strengths, resulting in high buyer preference."
Banjeong I-Park Castle, Banjeong-dong, Hwaseong-si, Gyeonggi Province (Provided by HDC Hyundai Development Company)
According to Real Estate 114, a total of 53,917 households in large construction company-branded complexes are scheduled for sale in the fourth quarter of this year. This represents a 48.7% increase compared to 36,287 households during the same period last year.
Daewoo Construction will launch sales of 'Uijeongbu Station Prugio The Central' through the Uijeongbu Central Living Zone 3 District Housing Redevelopment Project in Uijeongbu-dong, Uijeongbu-si, Gyeonggi Province this month. The complex consists of two buildings, ranging from three basement floors to a maximum of 35 floors above ground, with nine buildings and a total of 926 households. Among these, 207 households with exclusive areas of 49 to 84㎡ will be available for general sale.
HDC Hyundai Development Company and Lotte Construction are also scheduled to sell 'Banjeong I-Park Castle' this month in the Banjeong-dong area of Hwaseong-si, Gyeonggi Province. This large complex consists of 34 buildings ranging from three basement floors to a maximum of 19 floors above ground, with 2,364 households sized between 59 and 156㎡. In addition, Lotte Construction will sell 'Yeongtong Lotte Castle El Class' in Mangpo-dong, Yeongtong-gu, Suwon-si, Gyeonggi Province. This complex has 17 buildings with a maximum of 20 floors above ground and a total of 1,251 households sized between 79 and 107㎡.
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