The real estate market in non-regulated provincial areas is stirring. As housing prices in Seoul and other metropolitan areas have surged rapidly and regulations have been significantly tightened, these areas are clearly benefiting from the resulting balloon effect.
According to Korea Real Estate Agency's Cheongyak Home on the 7th, the first-priority subscription for 'Changwon Prugio The Platinum,' held the previous day, received a total of 8,710 applications for 478 households (excluding special supply), recording an average competition rate of 18.22 to 1. The highest subscription competition rate was 50 to 1 for the exclusive 59A㎡ type. Following that, the ▲74㎡ type recorded 47 to 1, ▲59B㎡ type 39 to 1, and ▲84D㎡ type 33.57 to 1, with all types closing at first priority.
On the same day, 'Gimhae Yulha The Sky City Zenith & Frau,' which also received first-priority subscriptions, attracted a whopping 15,590 applicants for 709 households, recording an average competition rate of 22 to 1. This is the highest subscription competition rate since 2016 when Daelim Industrial and Samho offered 'e-Pyeonhansesang Jangyu 2nd Phase (first priority average 46.3 to 1)' in Jangyu 1-dong, Gimhae City.
The complexes located in Masanhappo-gu, Changwon, and Gimhae are non-regulated areas without resale restrictions. They are relatively free in terms of first-priority subscription qualifications such as re-winning restrictions, residency period, and household head status, and even homeowners can apply. Since last year, the buying and selling of apartment pre-sale rights have been completely banned in the metropolitan area and major metropolitan cities, causing investment demand to flood into non-regulated provincial areas, reflecting this atmosphere.
Not only the outskirts of Gyeonggi Province but also cities nationwide where pre-sale rights trading is free, such as Asan City in Chungnam and Yangsan City in Gyeongnam, are seeing pre-sale right prices skyrocket. For example, the pre-sale right for the 84㎡ unit of 'Icheon Lotte Castle Goldsky' located in Icheon was traded for 640 million KRW last month, up 200 million KRW from 440 million KRW in January last year. In Yeoju, the pre-sale right for the 84㎡ unit of 'Yeoju Station Prugio Clater,' which was traded in the 300 million KRW range until last year, was traded for 452.27 million KRW last month.
Especially, Yangpyeong, which was a 'negative premium' area where apartment pre-sale rights were traded below the sale price until the first half of last year, has experienced a dramatic turnaround. In February last year, the pre-sale right for the 80㎡ unit of 'Yangpyeong Central Park Summit' was traded for 305.39 million KRW, about 90 million KRW lower than the sale price. However, as it gained attention as one of the few non-regulated areas in Gyeonggi Province, housing prices soared, and it was sold for 426.7 million KRW in January this year. The pre-sale right for the 84A㎡ unit of 'Yangsan Sasong The Sharp Desiang (C1 Block)' in Yangsan City, Gyeongnam, was sold for 374 million KRW (11th floor) in August last year, but in February this year, it was traded for about 100 million KRW higher at 471.75 million KRW (11th floor).
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