More than 360,000 people applied for two non-priority subscription apartments in Gwanggyo, Suwon. The prices remained the same as in the 2021 sale, attracting attention as they were about 500 million KRW lower compared to the market prices of surrounding complexes.
According to the Korea Real Estate Board's Subscription Home on the 18th, 349,071 people applied for one 69㎡ unit of Hillstate Gwanggyo Jungang Station First in the non-priority subscription held the previous day. Anyone aged 19 or older nationwide could apply for the uncontracted units. As it is a non-regulated area, there were no resale restrictions or re-winning restrictions, and the price ceiling system was applied. The sale price was 774.3 million KRW.
Hillsstate Gwanggyo Jungang Station First currently accepting subscription applications. Photo by Yonhap News
For the non-priority subscription of one 84㎡ unit, 16,096 people applied. This unit, which was a canceled contract, could only be applied for by non-homeowners residing in Suwon City. Due to a 10-year re-winning restriction, the competition rate was relatively low. The sale price was 936.2 million KRW.
Hillstate Gwanggyo Jungang Station First recorded a competition rate of 228.7 to 1 during its 2021 sale. Although there are no recent actual transaction cases, the market expects a price difference of about 500 million KRW compared to surrounding complexes if won.
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