Incheon 'Bupyeong Doosan We've The Park' Attracts Over 47,000 Applicants in Non-Sequential Subscription

Record Competition Rate of 11,907 to 1

[Asia Economy Reporter Moon Jiwon] Doosan Construction's non-priority subscription for 'Bupyeong Doosan We've The Park,' being built in Sangok-dong, Bupyeong-gu, Incheon, attracted about 47,000 applicants, recording a competition rate of 11,907 to 1.

Non-priority subscription is a subscription system that supplies some remaining units, which were disqualified after the first and second priority subscriptions, to the general public again.

According to Doosan Construction on the 15th, 47,626 people applied for the non-priority subscription of Bupyeong Doosan We've The Park, which was received the day before, for 4 units.

The housing types supplied in this non-priority subscription were 49㎡ units (3 units) and 59㎡B units (1 unit). The 59㎡B unit, of which only one was supplied, attracted a total of 30,066 applicants, recording a competition rate of 30,066 to 1.

Non-priority subscription is available to anyone aged 19 or older regardless of whether they have a subscription savings account, and it is not subject to the subscription point system. Also, multi-homeowners can apply, and there is no restriction on re-winning, which seems to have caused a large influx of subscription demand.

Industry insiders believe that as the government recently strengthened loan regulations on high-priced houses in major areas of Seoul and the metropolitan area, buyers' purchasing sentiment concentrated on Incheon, a non-regulated area.

An industry official explained, "Loan qualification requirements have become very strict in major metropolitan areas such as Seoul, Gwacheon, Gwangmyeong, and Bundang (speculative overheated districts). It seems that subscription demand has massively shifted to Incheon, where housing prices are relatively affordable and loan qualification requirements are more flexible."

Bupyeong Doosan We've The Park is an apartment complex built by redeveloping Sangok 4 District in Bupyeong-gu, Incheon. It consists of 10 buildings, ranging from 4 basement floors to a maximum of 26 floors, with a total of 799 units. Among them, 507 units (49~84㎡) excluding those for union members were supplied to the general public.

The winners will be drawn at the model house this morning, and the list of winners will be announced on the website in the afternoon. The designation of building and unit numbers and contracts will take place on the 17th.

This content was produced with the assistance of AI translation services.