Daewoo E&C's Private Rental 'Unseo Station Prugio' Achieves Highest Competition Rate of 30.5 to 1

[Asia Economy Reporter Yoo In-ho] Daewoo E&C's public-supported private rental apartment complex, 'Unseo Station Prugio The Sky,' launched in Yeongjong Sky City, Incheon, closed its subscription with an average competition rate of 2.76 to 1.

According to the Korea Real Estate Agency's subscription homepage on the 4th, a total of 3,996 applicants applied for the 1,445 units of 'Unseo Station Prugio The Sky,' which closed subscription the previous day.

By supply type, 2,959 applicants applied for 1,154 general supply units, recording an average competition rate of 2.56 to 1. For special supply, 735 applied for 146 youth units, showing a 5 to 1 ratio; 206 applied for 88 newlywed units, showing 2.34 to 1; and 96 applied for 57 senior units, showing 1.68 to 1 competition rates.

The most fiercely contested housing type was the 84E㎡ unit, with 61 applicants for 2 units, recording the highest competition rate of 30.5 to 1. Following were the 74㎡B youth special supply at 5.61 to 1, 84㎡D youth special supply at 5.5 to 1, and 84㎡D newlywed special supply at 4.7 to 1.

The popularity of this complex is believed to stem from the emphasis on long-term stable housing amid the intensified jeonse (long-term lease) crisis following the implementation of the Lease Protection Act.

Residents can live for up to 8 years, and upon renewal after 2 years, rent increases are capped at 5%. The initial rent is set at 95% of the market price for general subscription and 85% for special supply. The absence of a requirement for a subscription savings account and no restrictions on re-winning are also cited as reasons.

Unseo Station Prugio The Sky is located in the central living area of Yeongjong District, which has high residential preference within Yeongjong Sky City, close to Unseo Station on the Airport Railroad. It offers easy access to the metropolitan transportation network, including the 2nd Gyeongin Expressway and Incheon International Airport Expressway. With the completion of the Yeongjong Coastal Circular Road and the 3rd Yeonryuk Bridge planned, the transportation environment is expected to become even richer.

Nearby school districts include Yeongjong High School, as well as Haneul High School, Incheon Science High School, and Incheon International High School. Convenience facilities such as Lotte Mart Yeongjong Branch and CGV Yeongjong Branch are easily accessible. A public office complex, including the district office, district council, health center, and registry office, is scheduled to move in by 2025, further enhancing living convenience.

A company official said, “Due to the severe jeonse crisis and continuously rising housing prices, pre-reservation inquiries steadily continued even before the model house opened. There were many detailed checks and consultations inside the model house, so we anticipated its popularity,” adding, “We will repay with a premium apartment worthy of the Prugio brand.” The announcement of winners is scheduled for the 9th, and contracts will proceed from the 14th to the 20th.