The Last Subscription Before the Sale Price Ceiling System... 20,000 Households in Seoul Alone

▲ Perspective view of 'Raemian Elinity' in Yongdu-dong, Dongdaemun-gu, Seoul (Provided by Samsung C&T)

[Asia Economy Reporter Lee Chun-hee] The full expansion of the private housing site price ceiling system, originally scheduled for the end of last month, has been postponed to July, concentrating the final apartment supply volume within the three months from May to July.

According to real estate market analysis firm Real Estate Info on the 1st, a total of 20,918 apartment units are scheduled to be supplied in Seoul between May and July. Among these, 8,303 units are planned for general sale, which is about 2.5 times higher than the 3,358 units during the same period last year. However, this figure excludes projects under discussion for post-sale, such as the 12,032 units of the Dunchon Jugong reconstruction in Gangdong-gu.

Kwon Il, head of the research team at Real Estate Info, said, "If the resident recruitment announcement for general sales is completed by July 28, it is possible to avoid the price ceiling system, which explains the increase in supply. After the price ceiling system is implemented, apartment supply is likely to sharply decrease, so unless you are a high-score applicant confident of winning, it is better to try applying for the abundant supply until July to increase your chances of winning."

In particular, apartments in Seoul are popular areas, with 38 out of 39 complexes that supplied more than 100 units last year closing applications in the first priority round, indicating high interest from prospective applicants. This year, in March, Seocho-gu's 'Le El Sinbanpo' and Yangcheon-gu's 'Hoban Summit Mokdong' both recorded high competition rates of 124:1 and 128:1, respectively.

Looking at construction companies, Samsung C&T will supply 'Raemian Elinity,' a redevelopment project in Yongdu 6 District, Dongdaemun-gu, this month. It is a large complex with 1,048 units, of which 477 units sized 51?121㎡ (exclusive area) will be for general sale. It is conveniently located near Seoul Subway Line 1, Line 2, and the Ui-Sinseol Line at Sinseoldong Station, as well as Line 1 at Jegidong Station, making access to Seoul’s central business districts easy.

GS Construction will also supply 'Heukseok River Park Xi' through the redevelopment of Heukseok 3 District in Dongjak-gu this month. It is a complex of 1,772 units, with 357 units for general sale. It is close to Heukseok Station on Line 9 and adjacent to green spaces such as Seodal Mountain and Hyeonchung Neighborhood Park. GS Construction will also launch sales in July for Jeungsan 2 District and Susaek 6?7 District in Eunpyeong-gu.

Lotte Construction will supply 98 units out of a total of 330 units through the Sinbanpo 13th reconstruction in Seocho-gu. Daewoo Construction will supply 489 units through the reconstruction of Daechi Gumae Village 1 District in Gangnam-gu.

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