Expect Capital Gains at 3-Year-Old Sale Prices
Only Non-Homeowners Living in Gwacheon Can Apply
The non-priority subscription for the Prugio apartments within the Gyeonggi-do Gwacheon Knowledge Information Town (Designated Town) is scheduled to take place on the 15th. Since the supply price is based on the price from three years ago and the selection is by lottery, competition for subscription is expected to be fierce.
A representative from Daewoo E&C stated on the 1st, "As of now, we plan to announce the recruitment for non-priority subscribers on the 9th and conduct the subscription for one day on the 15th."
This non-priority subscription targets units whose contracts were canceled due to reasons such as fraudulent subscriptions. A total of six households are eligible, with one additional unit possibly added. By complex: ▲Gwacheon Prugio Ortus 3 units ▲Gwacheon Prugio Lavieno 1 unit ▲Gwacheon Lesento Desiang 1 unit ▲Gwacheon Prugio Bellarte 1 unit. The undecided unit is from Gwacheon Prugio Lavieno, where the resident has expressed an intention to cancel the contract and is currently in consultation with Daewoo E&C.
The sale price is set at the 2020 level. At that time, the sale price was around 800 million KRW for an exclusive area of 84㎡. Compared to the Gwacheon Centreville Asterium with an exclusive area of 84㎡ in the same neighborhood (Galhyeon-dong), which was traded for 1.335 billion KRW in March, this represents a potential price difference of over 500 million KRW. The Gwacheon Jade Xi, which was the first to be sold in the area, saw its 59㎡ unit change hands for 950 million KRW two months ago.
Gwacheon Designated Town is a large-scale public land development district created by lifting the development restriction zone in the Galhyeon and Munwon-dong areas of Gwacheon City. It is located between Government Gwacheon Office Station and Indeogwon Station on Subway Line 4, and the construction of the new Gwacheon Knowledge Information Town Station (tentative name) is underway, aiming for completion in 2026.
The complexes in this area attracted attention as half-price and lottery apartments even at the initial sale, recording high subscription competition rates in the triple digits. However, there were also many fraudulent subscribers through false residence registrations. Subsequently, in legal battles, fraudulent subscribers lost, and canceled units have been intermittently released as non-priority subscriptions.
In Seoul, brand complexes such as Olympic Park Foreon in Gangdong-gu (Dunchon Jugong reconstruction) have achieved strong sales with non-priority subscriptions conducted this year. Given the relatively affordable sale prices and the location of Gwacheon, often called 'quasi-Gangnam,' many expect this to be successful.
However, it is important to note that recently relaxed non-priority subscription regulations, such as the removal of residence area and number of owned houses restrictions, do not apply here. This is because the units are not simply leftover from unsold contracts but are those canceled due to fraudulent subscriptions and are being re-released. Therefore, only non-homeowners residing in Gwacheon can participate in the non-priority subscription. Additionally, all complexes are subject to the sale price ceiling system, with a mandatory residence period of five years.
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