'Hoban Summit The First Siheung' Subscription First Priority Fully Subscribed... Average 11.2 to 1

▲ Perspective view of 'Hoban Summit The First Siheung' in Siwha MTV, Siheung-si, Gyeonggi Province (Provided by Hoban Construction)

[Asia Economy Reporter Lee Chun-hee] Hoban Construction's 'Hoban Summit The First Siheung,' supplied in the Siwha Multi Techno Valley (MTV) Joint Block 2 in Siheung-si, Gyeonggi Province, successfully closed first-priority applications for all housing types.

According to the Korea Real Estate Board's subscription website on the 29th, 4,131 applicants applied for 369 general sale units excluding special supply of 'Hoban Summit The First Siheung' conducted the previous day, recording an average competition rate of 11.2 to 1.

The highest competition rate by housing type was in the 84㎡ (exclusive area). For the 84㎡A, which recruited 137 units, 2,475 applicants applied, showing a competition rate of 18.1 to 1. The 84㎡B also recorded a competition rate of 8.7 to 1 with 349 subscription accounts for 40 units. For the 59㎡ units, ▲59㎡A recorded 7.9 to 1 ▲59㎡B 7.3 to 1 ▲59㎡C 4.2 to 1 competition rates respectively.

A Hoban sales official said, "There were many inquiry calls due to various development benefits in the first sales complex within Siwha MTV," adding, "It seems that the good results came from enjoying various infrastructures combined with brand power."

The announcement of winners will be on the 8th of next month. Contracts will then be conducted over three days from the 19th to the 21st. Hoban lowered the burden on buyers by implementing a fixed contract deposit of 10 million KRW and a deferred payment system for interim loan interest. The expected move-in month is January 2023.

'Hoban Summit The First Siheung' consists of a total of 578 units across six buildings from two basement floors to 29 floors above ground. The number of units by housing type is ▲59㎡A 166 units ▲59㎡B 58 units ▲59㎡C 58 units ▲84㎡A 240 units ▲84㎡B 56 units.

With an industrial complex nearby, it boasts excellent proximity to workplaces, and with the planned commercial area on Turtle Island and administrative town site, it is evaluated to have abundant living infrastructure. Various school sites such as kindergartens and elementary schools are located nearby, and plans include educational facilities like an Aqua Theme Park (planned), Aqua Pet Land, and Marine Science Museum.

Hoban applied a south-facing complex layout and a 4-bay design (except for some units) to secure ventilation and views. Using variable walls, various floor plans can be configured according to consumers' preferences and personalities. Community facilities such as a fitness club, indoor golf practice range, residents' cafe, and reading room are also provided.

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