Ranked No.1 Nationwide in Subscription Competition Rate for 4 Years Since 2019
Also Recording the Highest Subscription and Competition Rates in Seoul and Incheon This Year
Mixed-use residential complexes (mixed-use complexes) are securing the bestseller spot in the housing market. Their advantages in transportation and convenience infrastructure are highlighted, gaining high popularity especially among the younger generation. As a result, in recent years, many mixed-use complexes have recorded competition rates of hundreds to one, showing fierce subscription competition.
According to data from the Korea Real Estate Board's Subscription Home on the 19th, mixed-use residential apartments have ranked first in nationwide subscription competition rates every year over the past four years (2019?2022).
In 2019, the mixed-use complex 'Le El Daechi' in Gangnam-gu, Seoul, ranked first nationwide with an average competition rate of 212.1 to 1. In 2020, 'Hillstate Namcheon Station The First' in Suyeong-gu, Busan, recorded an average competition rate of 558 to 1, also ranking first nationwide.
Following that, in 2021, 'Dongtan 2 New City Dongtan Station Dietre' in Dongtan 2 New City, Gyeonggi Province, recorded a nationwide all-time high competition rate of 809.08 to 1, and last year, 'Centreville Asterium Yeongdeungpo' in Yeongdeungpo-gu, Seoul, took first place nationwide with an average competition rate of 199.74 to 1.
The fierce subscription competition for mixed-use complexes continued this year as well. First, in Seoul, 'Lotte Castle Eastpole' in the Guui Station area, developed as a large-scale mixed-use complex, received 41,344 first-priority subscription applications?the highest in Seoul this year?achieving an average competition rate of 98.44 to 1 and sold out.
Also, in Incheon, 'Geomdan New City Lotte Castle Nextiel,' developed as a mixed-use residential complex, recorded the highest number of subscriptions and the highest competition rate in Incheon this year. This complex received about 19,000 first-priority subscription applications, showing an average competition rate of 111.5 to 1.
The popularity of mixed-use complexes is analyzed to be due to increased preference for residential convenience expressed by new terms such as 'Pyeonrimium' (convenience premium) and 'Seulsegwon' (walking distance to subway), as well as the enhanced landmark symbolism from their impressive exteriors.
Meanwhile, mixed-use complex sales are anticipated this year in Gangdong-gu, Seoul; Unjeong New City in Paju; and Dong-gu, Daejeon, drawing attention.
In Gangdong-gu, Seoul, 'Grants,' a redevelopment project in Seongnae 5 District, will be launched next month. It is a mixed-use complex with up to 42 floors above ground and a total of 407 households, with 327 units for general sale ranging from 36 to 180 square meters in exclusive area.
In Unjeong New City, Paju, 'Hillstate The Unjeong' will be offered. Previously, residential officetels were sold first in this complex, and now 744 apartment units with exclusive areas of 84 and 164 square meters will be sold.
Hyundai Construction is also scheduled to launch 'Hillstate Gayang The Wise' in Gayang-dong, Dong-gu, Daejeon, in the same month. It will be a super high-rise mixed-use residential apartment with up to 49 floors, consisting of 358 units ranging from 84 to 155 square meters in exclusive area.
An official from the sales industry stated, "In recent years, as the influx of young people has increased, the importance of residential convenience in the housing market has been rising, which is also boosting the popularity of mixed-use complexes. Meanwhile, nowadays, mixed-use complexes are evolving in design to improve the exclusive area ratio, which was previously criticized as a drawback, increasing service areas, reducing management fees, and introducing premium designs and high-quality community facilities, thereby increasing consumer preference even more."
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