Consecutive Supply in Dongtan 2 New Town, Bucheon Daejang District, and Hanam Gyosan District
Gwanggyo New Town Jayeon & Hillstate 84㎡ Unit Sees Fourfold Increase
In May, the supply of public housing apartments with private sector participation will be launched consecutively in the Seoul metropolitan area. Public housing with private sector participation refers to homes supplied through collaboration between public institutions and private construction companies, where the public institution provides the land and the private sector is responsible for design, construction, and sales.
According to industry sources on May 6, the public housing apartments with private sector participation being supplied this month are concentrated in major new towns in the metropolitan area, such as Dongtan 2 New Town, Bucheon Daejang District, and Hanam Gyosan District.
In Dongtan 2 New Town, Taeyoung Construction and Gyeonggi Housing and Urban Development Corporation (GH) will offer 'Dongtan Kkumui Sup Jayeon·Daesang' in block A78. The project consists of a total of 1,170 units with exclusive areas of 74㎡ and 84㎡. Additionally, in Dongtan 2 New Town, Daewoo Engineering & Construction, in partnership with GH, will supply 'Dongtan Forepark Jayeon & Prugio,' which will have a total of 1,524 units ranging from 84㎡ to 142㎡ in exclusive area.
In Bucheon Daejang District, DL E&C is scheduled to supply 'ePyeonhansesang Daejang Firstium.' Of the total 1,640 units, 1,099 units will be supplied as public housing for newlywed hopefuls.
In Hanam Gyosan District, Daewoo Engineering & Construction, in collaboration with Korea Land & Housing Corporation (LH), will conduct the main subscription for 'Gyosan Prugio The First.' The project consists of 1,115 units with exclusive areas of 51?59㎡, and both special and general subscriptions will be conducted in early May.
The advantage of public housing with private sector participation is that the subscription point system does not apply, so applicants with low points also have a high chance of winning. As construction companies actively participate, the product quality has started to reach the level of general sales, and price competitiveness is also drawing attention. A real estate expert commented, "In major new towns, there are cases where public housing apartments with private sector participation have generated billions of won in capital gains after move-in, which is adding to the growing interest."
According to the Ministry of Land, Infrastructure and Transport's actual transaction price disclosure system, the 'Gwanggyo New Town Jayeon & Hillstate' unit with an exclusive area of 84㎡, supplied as public housing with private sector participation in Gwanggyo New Town, was traded at 1.59 billion won in March this year. This is about four times higher than the original sale price of 380 million won. The 'Dasan ePyeonhansesang Xi' in Dasan New Town, with an exclusive area of 84㎡, was traded at 860 million won, which is more than 2.6 times the original sale price of 320 million won. In fact, 'Bundang Kumho Eoullim Green Park,' supplied in Seongnam, Gyeonggi Province in March last year, recorded an average competition rate of 39.16 to 1 in the first round of subscription and was completely sold out.
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