'2 Billion Lotto' Complex Included... 80,000 Households Flood the Seoul Metropolitan Area [Practical Financial Tech]

87,999 Housing Units Scheduled for Sale in the Seoul Metropolitan Area in the Second Half
75% Increase Compared to the First Half
13,624 Units Planned in Seoul
Double the Volume of the First Half

Intense Competition for 'Raemian Onepentaseu' in Banpo-dong, Seocho-gu
Need to Strategize by Assessing Subscription Savings Account Competitiveness

The second half of this year will see a major sales battle. Construction companies, which had postponed their sales schedules for a while due to construction cost conflicts, are releasing a volume of about 80,000 households to coincide with the autumn peak season. Although sales volumes are being released after a long time, prices are expected to continue soaring. However, due to the recent rise in housing prices in Seoul and the metropolitan area and concerns about supply reduction, interest in new apartments is expected to grow even more. Experts advise, "Prime districts in Seoul are already overheated," and recommend, "You should devise a subscription strategy considering your points, eligibility criteria, and financing plans."

Seoul apartment complex. [Image source=Yonhap News]

70% Increase in the Metropolitan Area Compared to the First Half

According to real estate information company Real Estate R114 on the 17th, the planned supply volume in the metropolitan area for the second half of this year is 87,999 households. This is about a 75% increase compared to the first half's volume (50,194 households). It is also more than 15,000 households higher than the same period last year (72,704 households).

By region, Gyeonggi-do accounts for 63% of the total with 55,838 households. Seoul's supply volume for the second half of this year is 13,624 households, about twice the volume of the first half. Incheon is counted at a total of 18,537 households, including large-scale urban development project sales in Michuhol-gu and Yeonsu-gu.

Where Are the Promising Complexes in the Metropolitan Area?

In Seoul, the 'Raemian Onepentace' in Banpo-dong, Seocho-gu, which will soon open for subscription, draws the most attention. This complex, rebuilt from Sinbanpo 15th, is located right next to Sinbanpo Station on Subway Line 9. Nearby are prestigious school districts such as Banpo Elementary School, Gyeseong Elementary School, and Banpo Middle School, so fierce subscription competition is expected. The complex consists of 641 households from basement level 4 to 35 floors above ground, with 263 households available for general sale. The general sale price for an 84㎡ unit is expected to be in the mid-2 billion KRW range. Considering that the same size unit in the nearby Raemian One Bailey recently traded at around 4.2 billion KRW, a price difference of about 2 billion KRW is expected upon winning the subscription.

The 'Raemian Leventus' in Dogok-dong, Gangnam-gu, will also soon enter the subscription market. This complex, rebuilt from Dogok Samho Apartment, is near Gangnam Severance Hospital and Dogok Hospital. Although it is far from elementary schools and stations, its proximity to the Daechi-dong academy district is an attractive factor. Of the total 308 households, 133 are for general sale. Additionally, in Bangbae-dong, D.H. Bangbae and Raemian One Perla are preparing for general sales targeting the second half of this year. D.H. Bangbae, redeveloping Bangbae 5 District, has 1,251 households available for general sale out of a total of 3,065 households.

In Gyeonggi-do, next month, the Buk Suwon Imok District Dietre Deriche I and II are scheduled for sale in the Imok-dong area of Jangan-gu, Suwon City. These complexes, built on public land, will supply a total of 2,512 households, with 1,744 and 768 households respectively. The price ceiling system will be applied, so prices are expected to be set lower than market prices. 'Hangang Sujain Obcent' in Bukbyeon-dong, Gimpo City, will also be sold next month. This complex, located right next to Geolpo Bukbyeon Station on the Gimpo Gold Line, will release 2,116 households for general sale out of a total of 3,058. The 3rd and 4th phases of Nutimaeul in Bundang-gu, Seongnam City, currently undergoing remodeling near Jeongja Station on the Shinbundang Line, are also expected to be available for sale in the second half of this year.

Opportunity to Own a New Home... "Evaluate Your Subscription Account Competitiveness and Strategize"

The subscription market in the metropolitan area, especially Seoul, is already considered to have recovered. According to Real Estate R114, the average competition rate for first-priority subscriptions in Seoul this year was about 100 to 1. 'Maple Xi' in Jamwon-dong, Seocho-gu, recorded a competition rate of 442.32 to 1 in the first-priority subscription in February this year. 'Posez Hangang,' built along the Han River in Gwangjin-gu, sold out despite the highest-ever price of about 110 million KRW per 3.3㎡.

Experts advise paying attention to the second half's sales volume this year, considering rising prices and the expected decrease in new supply. If you have a financing plan and a strong will to own a home, it is necessary to actively use your subscription account. Kim Eun-sun, head of the Big Data Lab at Zigbang, said, "Demand for new apartments in Seoul and some parts of the metropolitan area is expected to continue in the second half of this year," adding, "Depending on price competitiveness, complexes attracting buyers' interest will be differentiated."

However, they cautioned to approach solo apartments or high-priced complexes carefully, considering future complex value. Yoon Ji-hae, senior researcher at Real Estate R114, said, "If it is a Gangnam area reconstruction apartment or a complex with a large brand, aiming for subscription could be worthwhile," and added, "Prime complexes already have quite high competition rates, so you need to carefully evaluate your points and competitiveness."