GS Construction's 'Xi' Attracted the Most First-Priority Subscription Accounts This Year

Perspective view of Gwacheon Jade Xi, sold by GS Construction this year.

[Asia Economy Reporter Donghyun Choi] GS Construction's apartment brand 'Xi' attracted the highest number of first-priority applicants this year.

GS Construction announced on the 23rd that, based on the Korea Appraisal Board's survey of first-priority apartment applications as of the end of September, a total of 2,091,489 people applied as first priority for apartment complexes sold under a single brand, of which 352,356 applied for Xi. This accounts for 16.8% of all first-priority applicants, making it the highest for a single apartment brand.

In particular, all Xi apartments supplied up to September were closed with first-priority applications. This popularity is also confirmed in surveys by brand research firms. Xi ranked first for three consecutive years (2017-2019) in the 'Best Apartment Brand' survey jointly conducted by Real Estate 114 and Korea Research. Additionally, in September, Xi took first place in the apartment category of Brandstock, a brand value evaluation company. Notably, Xi has maintained the top position in this category since August 2018.

Looking at Xi's supply status, Gaepo Presidents Xi, supplied for the first time this year, attracted 15,082 applicants for 232 households (excluding special supply), recording an average competition rate of 65.01 to 1. The apartment complex with the highest competition rate was Gwacheon Jade Xi, which attracted 25,560 applicants for 132 households (excluding special supply), with an average first-priority competition rate of 193.64 to 1. The Xi complex with the largest number of first-priority applicants was Cheongra Hills Xi, supplied in March in Namsan-dong, Jung-gu, Daegu. It attracted a remarkable 55,710 first-priority applicants, with an average competition rate of 141.4 to 1.

Xi supply is expected to continue after October. Notably, locations that have attracted consumer attention, such as Songdo International City in Incheon, Naegok-dong in Gangneung, Byeollae New Town in Namyangju, and Godeung District in Seongnam, are preparing for supply.

In Songdo International City, Incheon, a large complex called Songdo Crystal Ocean Xi (tentative name) with 1,503 households is planned for supply around November. The complex is designed to resemble a luxury resort with a location that directly overlooks the West Sea and Incheon Bridge. Nearby are the Waterfront Lake and Jack Nicklaus Golf Club, providing a pleasant residential environment. In the same month, Gangneung's first Xi complex, 'Gangneung Xi Pine Venue,' with 918 households, will be supplied in Naegok-dong, Gangneung City, Gangwon Province. The KTX Gangneung Station is located about 2 km from the complex, allowing travel to Seoul in about 2 hours. National Routes 7 and 35, connected to Gangneung IC, are near the complex, facilitating easy vehicle access to downtown Gangneung and other areas.

In the Byeollae Residential Development District in Namyangju, Gyeonggi Province, 'Byeollae Xi The Star' is currently being supplied. It consists of 740 apartment units and 192 officetel units, totaling 932 households. Accessibility to Seoul is expected to improve with the planned GTX B Line Byeollae Station, Gyeongchun Line Byeollae Station, and the planned Line 8 Byeollae Station.

Additionally, Xi will be supplied in Godeung District, Seongnam City, Gyeonggi Province; Gyeongsan City, North Gyeongsang Province; Hwaseong City, Gyeonggi Province; and Pyeongtaek City. A GS Construction official stated, "The subscription results confirm that Xi is recognized as a high-quality apartment brand and holds a solid competitive advantage in brand power. We will continue to present Xi to customers as a top brand apartment with excellent products and services that meet the expectations of actual demanders."