In the pre-sale market, where preferences for complexes clearly diverge based on competitiveness, the so-called 'pre-sale polarization' is intensifying. Next week, a total of 5,450 units?the highest volume this year?will be supplied nationwide.
According to Real Today, a real estate research firm, in the third week of April, subscription applications will be accepted for a total of 5,450 units across 15 locations nationwide (including public-supported private rental, private rental, and officetels, excluding Happy Housing).
In the metropolitan area, subscription applications will be accepted at 10 locations. In Hwaseong-si, Gyeonggi Province, on the 18th, applications will open for Dongtan New Town Geumgang Pentarium 6th Central Park. It consists of 14 buildings from basement level 1 to 20 floors above ground, with exclusive areas ranging from 84 to 100㎡, totaling 1,103 units. Additionally, applications will open soon at Cantavil The Suite (625 units) in Seo-gu, Incheon, among others.
However, the supply volume in Seoul is relatively small. A total of 657 units will be supplied across 4 locations, but only 146 units are for general sale. Moreover, except for 72 general sale units at the private rental apartment Eunpyeong New Town Dietre The First, the rest are officetels or urban lifestyle housing.
Pre-sale units will also be available in provincial areas. On the 18th, applications will open for Eco Delta City Daesung Berhill, located in Gangdong-dong, Gangseo-gu, Busan. It consists of 16 buildings from basement level 1 to 21 floors above ground, with exclusive areas ranging from 84 to 106㎡, totaling 1,120 units. Additionally, applications will be accepted at five other locations, including Cheongju Dongil Highvill Parklane (800 units).
Currently, the pre-sale market is experiencing mixed success among complexes due to buyers' careful selection. Despite the sluggish pre-sale market, tens of thousands of subscription accounts have flooded Seoul and Gyeongsangnam-do this year (as of April 12), resulting in high subscription competition rates. Analyzing data from the Korea Real Estate Board's Subscription Home, Real Today found that among 14 metropolitan cities and provinces, Seoul recorded an average competition rate of 54.05 to 1 with 39,025 subscription accounts for 722 units, and Gyeongnam recorded 27.05 to 1 with 26,995 accounts for 998 units, both showing double-digit high competition rates.
On the other hand, unsold units are rampant in provincial areas. The other 12 metropolitan cities and provinces, excluding Seoul and Gyeongnam, all recorded single-digit or below subscription rates. The rates were as follows: Gwangju 6.32 to 1, Chungbuk 4.27 to 1, Busan 3.34 to 1, Gyeonggi-do 1.98 to 1, Incheon 1.05 to 1, Jeonbuk 0.56 to 1, Chungnam 0.48 to 1, Jeju 0.12 to 1, Jeonnam 0.04 to 1, Ulsan 0.03 to 1, Daegu 0.02 to 1, and in Gyeongbuk, not a single subscription account was used for first-priority applications this year.
This is analyzed to be due to the government's significant easing of regulations in the 1st and 3rd real estate measures. The abolition of mid-payment loan price standards, relaxation of pre-sale rights resale restrictions, and removal of actual residence obligations for non-priority subscriptions have attracted investment demand beyond actual residents to Seoul. From this month, the resale restriction period for apartment pre-sale rights in the metropolitan area has also been reduced to a maximum of three years, leading to expectations that the pre-sale polarization phenomenon will continue for some time.
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