90,000 Apply for Special Supply in Three Gwacheon Jisik Information Town Complexes... First Priority Subscription Today

[Asia Economy Reporter Kim Yuri] More than 90,000 applicants flocked to the special supply subscription for three complexes within Gwacheon Knowledge Information Town.

According to the Korea Real Estate Board's subscription homepage on the 3rd, the day before, 30,328, 30,624, and 30,474 applicants applied for the special supply of Gwacheon Prugio Ortus (S1 Block, 243 units), Gwacheon Prugio Eoullim Lavieno (S4, 221 units), and Gwacheon Lesento Desiang (S5, 190 units), respectively.

The average competition rate was highest for Gwacheon Lesento Desiang at 160.4 to 1, followed by Gwacheon Prugio Eoullim Lavieno and Gwacheon Prugio Ortus at 138.6 to 1 and 124.8 to 1, respectively.

Among the special supply types, competition was fiercer in the recently introduced first-time homebuyer special supply. Gwacheon Lesento Desiang attracted 16,111 applicants for 50 first-time homebuyer special supply units, resulting in a competition rate of 322.2 to 1. Gwacheon Prugio Eoullim Lavieno and Gwacheon Prugio Ortus also recorded competition rates of 277.1 to 1 and 254.8 to 1 in this category, with 16,069 and 16,051 applicants, respectively.

In the newlywed couple special supply, Gwacheon Lesento Desiang recorded 161.4 to 1, followed by Gwacheon Prugio Eoullim Lavieno at 140.5 to 1 and Gwacheon Prugio Ortus at 125.8 to 1, all exceeding a competition rate of 100 to 1.

Since the announcement dates for the winners of the three complexes differ, overlapping subscriptions were possible, allowing applicants to apply for all three complexes on the same day.

The three complexes will accept first-priority subscriptions on the 3rd. The average sale price of these complexes, subject to the price ceiling system, is around 24 million KRW per 3.3㎡, and prospective applicants are highly interested as they can expect a price difference of up to about 1 billion KRW compared to surrounding market prices. Although the resale restriction period lasts up to 10 years, the subscription market has already been reorganized mainly for actual demanders, attracting interest from non-homeowners and those looking to switch from one home to another etc. among actual demanders. The industry expects not only high subscription competition rates but also a significant increase in the minimum winning score.