Nearly 78,000 Apply for Hanam Gyosan Prugio Lottery in 'Third-Phase New Town'

Highest Competition Rate Reaches 393 to 1

Nearly 53,000 general applicants flocked to the first public housing lottery for apartments in the Gyosan district of Hanam, Gyeonggi Province, one of the third-phase new towns. When combining both special and general applications, the total number of applicants reached 77,932.

According to Korea Land and Housing Corporation (LH) on May 9, a total of 52,920 people applied for the general supply of Gyosan Prugio The First (201 units) on this day, resulting in an average competition rate of 263.3 to 1.

The most popular unit was the 59-square-meter exclusive type (112 units), which attracted 41,069 applicants, recording the highest competition rate among all unit types at 393.4 to 1. This was followed by the 58-square-meter type (7 units supplied) at 174.3 to 1, the 55-square-meter type (5 units) at 143.6 to 1, and the 51-square-meter type (77 units) at 128.9 to 1, respectively.

Gyosan Prugio The First. Daewoo E&C Homepage

This complex is a public housing project jointly supplied by LH and Daewoo E&C. It is the first batch of units offered in the Hanam Gyosan district. The area is considered to have excellent accessibility to Seoul. The pre-sale price is lower than the surrounding market price, and with the application of the private brand 'Prugio,' there has been significant attention both for its product quality and symbolic value.

The pre-sale price for the 59-square-meter exclusive unit in this complex ranges from 530 million to 570 million won, up to 300 million won cheaper than the market price. For comparison, the same-sized units in the nearby branded apartment 'Hanam Hoban Summit Edupark' have recently been traded at around 830 million to 870 million won.

The earlier special supply (186 units offered) also drew 25,012 applicants, resulting in an average competition rate of 134.5 to 1.