15,000 Apply for Apartment Subscriptions in Dongtan

Nearly 15,000 people applied for special supply subscriptions for two apartment complexes in Dongtan New Town, Hwaseong, Gyeonggi Province.

According to the subscription results posted on the Korea Real Estate Board's Cheongyak Home on May 20, a total of 8,897 people applied for the 838 units of public housing special supply at Dongtan Forepark Nature & Prugio, provided by Gyeonggi Housing & Urban Development Corporation. The simple subscription competition ratio was about 10.6 to 1.

The complex, including the general sale units, consists of a total of 1,121 units, all with an exclusive area of 84 square meters. Newlywed couples accounted for the largest group with 3,626 applicants, followed by households with newborns (general type, 2,232 applicants) and first-time homebuyers (2,126 applicants). For the 52 units of private housing, 674 people applied. The private housing was offered in two types: 97 square meters and 142 square meters.

Industry sources believe that the high number of applications is due to the price for the 84-square-meter units, which ranges from 580 million to 590 million won, about 100 million won lower than the surrounding market price. The 97-square-meter type is priced in the 670 million won range, while the 142-square-meter type is in the 1 billion won range.

Perspective view of Dongtan Forepark Nature & Prugio. Provided by Daewoo Construction

Nearby, Dongtan Kkumui Forest Nature & Daesang, which also accepted special supply applications around the same time, received 5,085 applications for 876 units. The average competition ratio was 5.8 to 1. The 74-square-meter units in this apartment are priced in the 480 million won range, and the 84-square-meter units are in the 540 million won range.

Meanwhile, Hillstate Mediale, which was offered in Seoul for the first time in a while, received 1,197 applications for 265 special supply units, recording an average competition ratio of 4.5 to 1. For Gocheok Prugio Hillstate, built by Daewoo Construction and Hyundai Engineering, 1,691 people applied for 314 special supply units, with a competition ratio of about 5.4 to 1. In Seoul, the 59-square-meter units are priced at around 1 billion won.