[Real Estate Investment] Housing Subscription Site Overhaul Ahead, Flood of Apartment Supply Expected

Suspension of Sale Announcements for 3 Weeks Starting Next Month 4th
Final Sale Units Continue to Be Released
'First New Construction in 9 Years' Yeongtong Ja-i Central Park Receives Applications
Kyungheegung Yubora, Granz Riverpark, and Others Explore Sales

With the revamp of the 청약홈 (Chungyak Home) site scheduled for next month, the final phase of apartment sales is in full swing. As the subscription site will be non-operational next month, a flood of complexes are being offered this month. In particular, a large number of units in popular metropolitan areas, which are of great interest to actual buyers, are being released.

According to the Korea Real Estate Board's 청약홈 on the 21st, 'Yeongtong Xi Central Park' in Yeongtong-gu, Suwon-si, Gyeonggi Province, is accepting second-priority subscription applications today. Special supply applications were accepted on the 19th, and first-priority subscriptions on the 20th. This complex, with 290 units allocated for general sale, consists of 7 buildings ranging from 2 basement floors to a maximum of 29 floors above ground, totaling 580 units. It is the first newly built apartment in Yeongtong-dong in 9 years. The complex is located within a 5-minute walk from Yeongtong Station on the Suin-Bundang Line and is composed of the most preferred 'National Standard Size' units (exclusive area of 84㎡). The average sale price is 30.82 million KRW per 3.3㎡, with prices for the 84㎡ units ranging from approximately 1.0154 billion to 1.0403 billion KRW. Although the sale price is considered high compared to surrounding market prices, it is worth considering for those intending to live there.

Yeongtong Ja-i Central Park in Yeongtong-gu, Suwon-si, Gyeonggi-do. Photo by GS Construction

At 'Pangyo TH212' located in Bundang-gu, Seongnam-si, Gyeonggi Province, the process of finding owners for 185 general sale units is underway. Special supply applications were accepted on the 19th, and first-priority subscriptions on the 20th. Second-priority subscriptions begin today. This complex consists of 11 buildings ranging from 1 basement floor to 4 floors above ground, totaling 212 units. It has fewer units than typical apartments and features large-sized units (exclusive areas of 110~119㎡, 120~136㎡, 141~183㎡), making it a good choice for buyers who prefer a spacious living environment. The sale price per 3.3㎡ is around 34 to 35 million KRW.

'We Park Ilgok Park' in Buk-gu, Gwangju Metropolitan City, is also accepting second-priority subscriptions today. This complex's strength lies in its relatively affordable sale price. At about 16 million KRW per 3.3㎡, it is lower than the average sale price of private apartments in Gwangju (18.11 million KRW). The sale price was set below market value by reducing project costs through the public interest 'Private Park Special Project.' The complex consists of 12 buildings ranging from 3 basement floors to 28 floors above ground, with a total of 1,004 units, of which 538 are for general sale. Special supply applications were accepted on the 19th, and first-priority subscriptions on the 20th.

WiPark Ilgok Park, Buk-gu, Gwangju Metropolitan City. Photo by Line Construction

Sales are expected to continue until the revamp of the 청약홈 site next month. According to Real Estate R114, 36 complexes nationwide, totaling 30,654 units (including rental units), will be newly offered this month. Of these, 16,645 units are in the metropolitan area alone, marking the highest volume ever for February. The Korea Real Estate Board will temporarily suspend apartment sale announcements while revamping the 청약홈 system for three weeks from February 4 to 22.

Among the units offered from mid-month until the system revamp next month, 'Gyeonghuigung U-Bora' (315 units), a redevelopment of Yeongcheon Station in Yeongcheon-dong, Seodaemun-gu, stands out. Following that are redevelopment apartments such as 'Grants River Park' (407 units) in Seongnae 5 District, Seongnae-dong, Gangdong-gu, and 'Mapo Xi Hillstate' (1,101 units) in Gongdeok 1 District, Mapo-gu, as well as 'The Sharp Dunchon Foret' (572 units) in Dunchon-dong, Gangdong-gu, which are also considering sales schedules. In the Gyeonggi area, sales schedules are being reviewed for 'Doosan We've the Zenith Central Yongin' (568 units) in Cheoin-gu, Yongin-si, and 'Pyeongtaek Prugio Centerpine' (851 units) in the Hwayang district of Pyeongtaek-si.