Yeosu 'Marine Park Aesiang' attracts over 37,000 applicants in 'Jupjup' subscription

▲ Perspective view of 'Marine Park Aesiang' in Ungcheon-dong, Yeosu-si, Jeollanam-do (Provided by Booyoung Housing)

[Asia Economy Reporter Chunhee Lee] Booyoung Housing's 'Marine Park Ashiang' Phase 1 and 2, supplied in blocks 5-1 and 5-2 of the Ungcheon Residential Development District in Yeosu, Jeollanam-do, recorded an average competition rate of 754 to 1 in the non-priority subscription.

According to the industry on the 17th, the non-priority subscription application for 'Marine Park Ashiang' Phase 1 and 2 held on the 12th received a total of 36,959 applications for 49 households, resulting in an average competition rate of 754 to 1. The 84㎡A (exclusive area) type in Phase 2 recorded the highest competition rate of 3,000 to 1, with 3,000 applicants for one household. Phase 1's 84㎡A recorded 717 to 1, and Phase 2's 84㎡ recorded 646 to 1, showing consistently high competition rates.

Earlier, in the general supply conducted in January, Phase 1 received 13,822 applications for 353 households, recording an average competition rate of 39 to 1, and Phase 2 received 12,598 applications for 260 households, showing an average competition rate of 48 to 1. Given the considerable interest in the Yeosu area, this non-priority subscription, which supplied remaining units due to some disqualifications, also recorded a high competition rate.

The two phases combined consist of 18 buildings with a total of 1,054 households. Phase 1 is built with 10 buildings ranging from two basement floors to a maximum of 25 floors above ground, totaling 608 households, and Phase 2 consists of 8 buildings from two basement floors to a maximum of 25 floors above ground, totaling 446 households. All households are built with a single housing type of 84㎡ exclusive area, designed in three types. The sale prices range from 265 million to 292 million KRW for Phase 1 and from 259 million to 289 million KRW for Phase 2.

A Booyoung Housing official analyzed, "The popularity factors include the central location in the popular Ungcheon Residential District in Yeosu and the reasonable pricing," adding, "The resale restriction period is short at one year, and there is an expectation of future price increases, so the future value seems to be highly evaluated."

The announcement of winners for this non-priority subscription is scheduled for the 17th. The contract date is the following day, the 18th. Move-in is expected in April 2022.

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