- Top 10 Construction Companies Achieve Nationwide Average Competition Rate of 27 to 1 in First Half of the Year
- In Provinces Highlighting Scarcity, Top 10 Construction Companies' Competition Rate is 27 to 1, 5.7 Times Higher Than Other Builders
Analysis of the housing market in the first half of this year revealed that ‘brand apartments’ supplied by construction companies ranked in the top 10 in construction capability evaluations were more popular in provincial areas than in the metropolitan area.
According to an analysis by real estate information company Realtoday of data from the Korea Real Estate Board’s Subscription Home, in the first half of this year (January to May, as of May 27), 10 major construction companies supplied 34 complexes nationwide, totaling 13,119 households (based on general supply). The number of first-priority applicants for these complexes reached 365,777, recording an average competition rate of 27.88 to 1.
On the other hand, complexes supplied by other construction companies nationwide numbered 139, with 48,234 households, and the number of first-priority subscription accounts submitted was 790,134, resulting in a competition rate of 16.38 to 1. This is about 41% lower than the subscription competition rate of the top 10 construction companies.
The brand power of the top 10 construction companies was analyzed to be stronger in provincial areas than in the metropolitan area. In fact, brand apartments supplied by the top 10 construction companies in provincial areas in the first half of this year recorded an average first-priority competition rate of 27.86 to 1. The average first-priority competition rate for apartments supplied by other construction companies in provincial areas was 4.87 to 1, showing that the competition rate for the top 10 construction companies was about 5.7 times higher.
During the same period, in the metropolitan area, complexes supplied by the top 10 construction companies (5,942 households for general supply) attracted 165,821 applicants, showing an average competition rate of 27.91 to 1. Complexes supplied by other construction companies (17,376 households for general supply) attracted a total of 557,819 applicants, showing a competition rate of 32.1 to 1, which is about 15% higher than the average competition rate of the top 10 construction companies.
Regarding this, an industry expert analyzed, “Brand apartments from large construction companies in provincial areas are highly scarce, which has concentrated demand from buyers.” In particular, “In the metropolitan area, as mid-sized construction companies actively supply housing mainly in new towns and land development districts, large construction companies seem to have made advances.”
DL E&C (DL E&C) opened a model house for ‘e-Pyeonhansesang Seoklim The Noble,’ located in Seosan City, Chungcheongnam-do, on the 28th of last month and began full-scale sales.
The complex will be built with 8 buildings ranging from 3 basement floors to 20 above-ground floors, with exclusive areas of 84 to 114㎡, totaling 523 households. It is located in Seosan City, a non-regulated area, and subscription is possible regardless of household head status or number of houses owned. Within the complex, various community facilities will be provided, including a fitness center equipped with the only sauna in the area, screen golf, a reading room, study rooms, and a green caf?.
‘e-Pyeonhansesang Seoklim The Noble’ offers abundant access to various infrastructures within the Seosan area.
First, using Seohae-ro, which extends in front of the complex, makes it convenient to move to the outskirts of Seosan, and quick access to Seosan IC on the Seohaean Expressway is possible. In addition, Jungang-ro, which runs through Seosan centered on Seosan City Hall, is located nearby, making it easy to use wide-area transportation including Haemi IC within and outside Seosan.
The educational environment is also good. Right next to the complex are Seosan Jungang High School and a kindergarten, and within walking distance are Seodong Elementary School, Seoklim Middle School, and Seosan Girls’ Middle and High Schools. The Seosan Jungang Library is scheduled to be established in 2024, which is expected to further improve educational conditions.
Additionally, around Seoklim Intersection near the complex, there are convenience facilities such as Seosan Post Office, Lotte Cinema, Chungnam Seosan Medical Center, and Seosan Food Street. The pleasant natural environment is also an advantage, with Dongmun Neighborhood Park, Seoklim Stream, and the planned Seoklim Neighborhood Park.
DL E&C’s ‘e-Pyeonhansesang Seoklim The Noble’ will begin with the opening of the housing exhibition hall on the 28th (Friday), followed by special supply on June 7th (Monday), first-priority subscription on the 8th (Tuesday), and second-priority subscription on the 9th (Wednesday). The announcement of successful applicants will be on the 15th (Tuesday), and the official contract period will be held for four days from the 28th (Monday) to July 1st (Thursday).
The housing exhibition hall for ‘e-Pyeonhansesang Seoklim The Noble’ is located in Seosan City, Chungcheongnam-do. Reservations for visiting the exhibition hall and viewing the cyber exhibition hall can be made through the ‘e-Pyeonhansesang Seoklim The Noble’ website.
Move-in is scheduled for January 2024.
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