Jangwi Xi Contract Rate 60%... 537 Households Enter Non-Sequential Subscription

Applications Accepted Until 11th at Noon Starting This Day

[Asia Economy Reporter Kim Hyemin] Approximately 500 units of Jangwi Xi Radiant (Jangwi 4 District Redevelopment), which is being supplied on a large scale in the northern area of Seoul, have finally been reintroduced to the subscription market. This is due to a large number of unsold units caused by about 40% of the supply being forfeited by those who won the lottery but gave up.

According to the real estate industry on the 10th, Jangwi Xi Radiant is conducting a non-priority subscription for the remaining 537 units from today until noon on the 11th. These are the leftover units from last year's subscription, where only 793 out of 1,330 general sale units were contracted. The contract rate was recorded at 59.6%.

By exclusive area, the 84㎡ (A, B, D, F) type had the largest number with a total of 246 units. Among these, the housing type with the most supply is 84㎡ A, with 149 units. The main size, 72㎡, has 173 units available as non-priority supply. The small sizes, 49㎡ (B, C, D, E), have 65 units, and 59㎡ (A, D, E) have 35 units supplied.

The subscription eligibility is for non-homeowners currently residing in Seoul who are at least 19 years old or minors who are household heads (for child-rearing or sibling support). Originally, the government planned to remove residency restrictions for non-priority subscriptions starting this month, but the implementation was delayed, so this complex did not benefit from the change.

However, through the 1.3 measures, the government lifted regulatory restrictions on most of Seoul, including Seongbuk-gu where Jangwi Xi Radiant is located, easing resale restrictions and exempting it from mandatory residence regulations. The project entity itself offers a safe interest rate guarantee system, which includes deferred payment of interim payments and covers any interest exceeding 6% per annum on interim payments.

Previously, this complex recorded an average competition rate of 4.69 to 1 in the first and second priority subscriptions. The sale prices based on the highest price are ▲49㎡ 682.2 million to 694.3 million KRW, ▲59㎡ 759.4 million to 798.4 million KRW, ▲72㎡ 899.1 million KRW, ▲84㎡ 931.3 million to 1.0235 billion KRW, and ▲94㎡ 1.1983 billion KRW.