‘Dongtan New City Geumgang Pentarium 7th Central Park’ Model House Opens on the 27th

This Year, Gyeonggi and Incheon Subscription Competition Rates Dominated by Price Ceiling Apartments

As the trend of rising pre-sale prices gains momentum, interest in apartments subject to the pre-sale price ceiling system with price competitiveness continues to heat up.

According to the Korea Real Estate Board’s Apply Home, among the new complexes that received applications by the end of September this year in the metropolitan area excluding Seoul (Gyeonggi and Incheon), all of the top 1 to 5 ranked complexes in application competition rates were apartments subject to the pre-sale price ceiling system.

‘Geomdan New Town Lotte Castle Nextiel,’ an apartment complex subject to the pre-sale price ceiling system that received first-priority applications on the 11th of this month, broke records for the highest number of applications and highest competition rate in Incheon this year. With 19,737 application accounts submitted for first-priority applications, it recorded an average competition rate of 111.5 to 1, the highest in Incheon this year, closing first priority applications for all unit types.

In addition, ‘Pyeongtaek Godeok International New Town Hoban Summit Phase 3,’ supplied in Pyeongtaek and subject to the pre-sale price ceiling system, attracted attention with a high-score application account close to a perfect score of 83 points out of 84 in the winning score.

The industry expects the popularity of such apartments under the pre-sale price ceiling system to continue for some time. An industry insider said, “As the trend of rising pre-sale prices continues, a market atmosphere is rapidly forming where people want to secure their homes before prices rise further,” adding, “Especially, with the Ministry of Land, Infrastructure and Transport’s supply measures announced last month allowing the use of standard contracts to smoothly reflect increased construction costs due to rising labor and raw material prices, the scarcity is expected to increase amid further anticipated price rises, leading to a continued concentration of application demand.”

Meanwhile, the supply of ‘Dongtan New Town Geumgang Pentarium 7th Central Park,’ an apartment complex subject to the pre-sale price ceiling system, is drawing attention. Geumgang Housing will open a model house on the 27th and introduce the complex at block A57-2 in the New Residential Culture Town of Dongtan 2 New Town.

This complex is expected to be supplied at a reasonable pre-sale price through the pre-sale price ceiling system, and interest is growing as it is anticipated to benefit from the premium of the Geumgang Pentarium brand town with over 5,400 households in Dongtan 2 New Town and the large-scale semiconductor cluster nearby, according to local real estate officials.

Dongtan New Town Geumgang Pentarium 7th Central Park will be developed on a scale of 10 buildings, ranging from 3 basement floors to a maximum of 20 floors above ground, with a total of 662 households. All units will be medium-sized apartments with exclusive areas of 74㎡ and 84㎡, which are highly preferred by buyers.

The complex is surrounded by forests, making it a forest-adjacent apartment. Nearby, large parks such as Wangbaesan 3rd Park and Sinrichon Riverside Park (tentative name) are planned, promising a pleasant residential environment. Additionally, a daycare center will be provided within the complex, and kindergartens, elementary, middle, and high schools are planned nearby, ensuring an excellent educational environment.

Furthermore, the GTX-A line (scheduled for 2024) and Dongtan-Indeokwon line (scheduled for 2026) are expected to open, and Dongtan Urban Railway (tram) Line 2 will also pass through, boasting convenient transportation. Also, various lifestyle convenience facilities such as Lotte Department Store, E-Mart Traders, and CGV will be easily accessible, enhancing residential convenience.

A sales official stated, “The New Residential Culture Town in Dongtan 2 New Town is not only in the final stages of new pre-sale supply but also has added scarcity value, so interest continues to grow,” adding, “Residents of Hwaseong City and the metropolitan area can apply regardless of whether they are household heads or members, and even homeowners can apply for first-priority applications, leading to inquiries from across the metropolitan area.”