"National Standard Apartment Price Nearly 1.2 Billion Won"… Trius Gwangmyeong Fails to Close First Priority Subscription

The sale price of the standard unit (exclusive area 84㎡) reached 1.2 billion KRW, leading to a 'high price controversy' surrounding 'Trius Gwangmyeong' in Gwangmyeong, Gyeonggi-do, which failed to close the first priority subscription.

According to the Korea Real Estate Board's subscription homepage on the 18th, 2,444 people applied for the first priority subscription of 517 units at Trius Gwangmyeong held the previous day. The average competition rate was 4.7 to 1, but five types?36㎡, 84㎡B, 84㎡C, 102㎡A, and 102㎡B?failed to close the first priority subscription, except for 59㎡A, 59㎡B, and 84㎡A.

In the case of this apartment, the special supply recruitment of 320 units previously conducted only attracted 695 applicants, recording a low competition rate of 2 to 1.

Trius Gwangmyeong is an apartment redeveloping Gwangmyeong District 2, supplied by Daewoo Construction, Lotte Construction, and Hyundai Engineering. It consists of 26 buildings from 3 basement floors to 35 above-ground floors, with a total of 3,344 units ranging from 36 to 102㎡.

The reason Trius Gwangmyeong failed to close the first priority subscription is attributed to the high sale price. For the 59㎡ units, the highest price was set at 897 million KRW, and for the 84㎡ units, 1.186 billion KRW. Although this price includes balcony expansion costs, if some paid options are included, the 84㎡ units exceed 1.2 billion KRW.

As the recent trend of high interest rates is likely to continue and the government strengthens loan regulations, with house price stability expected, applicants seem to feel a greater burden from the high sale prices.

Previously, Gwangmyeong Central I-Park (Gwangmyeong District 4), which was sold earlier, was completely sold out despite having a sale price more than 100 million KRW higher than Trius Gwangmyeong. In the first priority subscription for Gwangmyeong Central I-Park, all sizes except the small 39㎡ unit were successfully closed. The average competition rate at that time was 18.9 to 1.