Record Number of Applicants for 4th Pre-Subscription
Daebang, the Only Seoul Area... 66.9 to 1
Goyang Changneung 84㎡ 165.7 to 1... Highest Competition Rate
Applicants hoping to apply for the 3rd New Town pre-subscription are receiving consultations at the pre-subscription reception site set up in Jangji-dong, Songpa-gu, Seoul. Photo by Jinhyung Kang aymsdream@
In the 4th pre-sale subscription targeting Namyangju Wangsuk and Goyang Changneung, over 136,000 people applied, recording an average competition rate of 10 to 1. Seoul Daebang, which attracted the most interest from demanders, closed with the highest-ever competition rate of 66.9 to 1 among newlywed hope town pre-sale subscriptions.
The Ministry of Land, Infrastructure and Transport announced on the 24th that a total of about 136,000 people applied for 13,600 households (6,400 public sale households, 7,152 newlywed hope town households) in the 4th public sale pre-subscription, recording an average competition rate of 10 to 1. The 4th pre-sale subscription marks the largest supply volume and number of applicants ever.
By type, public sale housing recorded a competition rate of 17.3 to 1 (special supply 8.5 to 1, general supply 51.8 to 1), and newlywed hope town recorded a competition rate of 3.5 to 1.
Public sale housing showed high preference in all three 3rd generation new towns: Goyang Changneung at 36.6 to 1, Namyangju Wangsuk at 19.7 to 1, and Bucheon Daejang at 16.5 to 1.
In particular, Goyang Changneung, where transportation is convenient and large-scale parks and green spaces are being developed, recorded the highest competition rate of 165.7 to 1 for the 84㎡ (exclusive area) type, and the 84㎡ terrace type (duplex) in Goyang Janghang also showed a high competition rate of 86.1 to 1.
Namyangju Wangsuk attracted 31,000 applicants for 1,601 households, and Bucheon Daejang had 14,000 applicants for 821 households. Both areas are adjacent to the eastern and western parts of the metropolitan area respectively, with excellent locations, and prices mostly formed in the 300 million to 500 million KRW range, making them highly popular.
The newlywed hope town recorded a final competition rate of 3.5 to 1 with about 25,000 applicants for the largest-ever supply of 7,152 households.
The only Seoul area, Daebang district, was supplied at about 65% of market price in an excellent location, attracting high interest and closing with the highest competition rate of 66.9 to 1 among newlywed hope town pre-sale subscriptions ever.
The government plans to expand the supply of units larger than 55㎡ from the first quarter of this year in response to changes in demand from newlyweds and others, and from the second half of the year, introduce medium-sized units (60?85㎡) through system improvements and plan changes.
Looking at the application results by age, public sale housing had the highest proportion of applicants in their 30s at 42.2%, followed by those in their 40s at 27.7%. Newlywed hope town applicants were mostly in their 30s (73.6%) and 20s (14.3%). By region, Seoul accounted for 35.5% and Gyeonggi/Incheon for 64.4% of applicants.
Applicants will undergo eligibility verification such as checking the appropriateness of subscription savings accounts, and winners will be preliminarily announced on the 17th of next month according to the selection method by subscription qualification. Additional screening will be conducted to confirm compliance with income and non-homeownership criteria.
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