19,000 Applied for the Last Special Sale in Gwacheon Knowledge Information Town... Competition Rate 71 to 1

First Priority Subscription Today... Special Supply Volume of 52 Households is One-Fifth

Perspective view of Gwacheon Knowledge Information Town Lin Familier.

[Asia Economy Reporter Kangwook Cho] Approximately 19,000 people flocked to apply for the special supply of ‘Gwacheon Knowledge Information Town Lin Familier,’ the last public sale units in Gwacheon Knowledge Information Town. The average competition rate exceeded 71 to 1.

According to the Korea Real Estate Board’s subscription homepage on the 24th, 18,957 people (including institution-recommended preliminary candidates) applied for the special supply of 266 units held the previous day, recording an average competition rate of 71.3 to 1.

By recruitment type, the ‘First-time Homebuyer’ category, recruiting 79 units, attracted the most applicants with 10,033 people. This was followed by ‘Newlyweds’ (7,480), ‘Multiple Children’ (767), ‘Elderly Parent Support’ (515), and ‘Institution Recommendation and National Merit’ (162).

This complex, located in S8 Block of Gwacheon Knowledge Information Town, considered a quasi-Gangnam area, is the last public sale apartment supplied within the district. It consists of 5 buildings, from 2 basement floors to 29 above-ground floors, with a total of 659 units of 46, 55, and 84 square meters exclusive area. Among these, 318 public sale units are being offered this time, and 227 newlywed hope town public sale units will open for subscription at the end of this month. Additionally, 114 newlywed hope town happy housing units will be recruited later.

All housing types in this public sale are composed of 84 square meters exclusive area. The sale prices are set between 786.7 million and 872.6 million KRW (excluding paid options) depending on the housing type. Considering that the nearby ‘Raemian Sure’ in Wonmun-dong, Gwacheon City, with an exclusive area of 84.961 square meters, was sold for 1.7 billion KRW (9th floor) last month, the sale price is about half of the market price.

The general supply quantity for the first-priority subscription held today is only 52 units, which is one-fifth of the special supply quantity, so a high subscription competition rate is expected.