If You Win, 'Hundreds of Millions'... 30,000 Rush for Special Purchase 'Jupjup' Expecting Profit Gains

Sejong Hanlim Pul Ever Non-Qualified Subscription Sees Flood of Applicants for 1 Household
Gam-il Prugio Markver Records 874:1 Competition Rate

Recently, as housing prices have soared to unprecedented levels, demand has concentrated on complexes with relatively low prices and potential for capital gains. In Sejong City, as many as 30,000 people flocked to the so-called 'Jupjup' (non-priority subscription) where capital gains of around 200 million KRW are expected.

According to the Korea Real Estate Board's subscription website on the 10th, 29,268 applicants applied for one unit in the non-priority subscription for 'Administrative City 1-1 Living Zone M8 Block Sejong Hanlim Full Ever' held on the 8th. Since any adult residing in Korea could apply, applications poured in from all over the country. During the first-priority subscription held in October 2020, 25,910 people competed for 169 units, showing an average competition rate of 153 to 1. This complex, which began move-in this September, offers a total of 458 units ranging from 103 to 136 square meters in exclusive area.

The reason real demand buyers flocked is due to capital gains. The units available in the non-priority subscription are 103㎡ exclusive area, with a sale price including paid balcony options of 471.25 million KRW. Considering that similar-sized complexes nearby are currently priced from the low 600 million KRW range to the 800 million KRW range, a minimum capital gain of 200 million KRW is expected.

Earlier, on the 6th, 1,748 applicants competed for two units (84㎡B exclusive area) of newlywed special supply contract cancellation housing in 'Gamil Prugio Markver' complex in Gami-dong, Hanam City, showing a competition rate of 874 to 1. For the general supply 84㎡A units, 6,269 people competed for one unit.

This complex is a mixed-use residential building with a total of 496 units and moved in last June. The sale price is the same as the price set during the October 2020 pre-sale. All three units are 84㎡ exclusive area houses, with prices ranging from 554.9 million to 573 million KRW. Nearby newly built complexes have actual transaction prices in the 1 billion KRW range, so capital gains of over 400 million KRW can be expected. This is why the non-priority subscription held this time recorded high competition rates.

In fact, the nearby newly built 2-year-old 'Gamil Starhills' 84㎡ unit was sold for 1.065 billion KRW on the 3rd of last month, and the 'Gamil Park Centreville' 84㎡ unit changed hands for 1.053 billion KRW on the 24th of last month.

On the same day, 1,478 applicants applied for one unit of newlywed special supply contract cancellation housing in 'Hanam Gamil Hanyang Sujain' in Gami-dong, Hanam City. The unit is 84㎡ exclusive area with a sale price of 616 million KRW. Since both Gamil Starhills and Gamil Park Centreville are adjacent to this complex, considering recent transaction prices, a safe margin of at least 300 million KRW seems possible.