This Week's Nationwide 'Big Sale Festival' for 20,000 Households

Early July Marks Start of Supply to Evade Price Ceiling and Pre-Sale Transfer Restrictions

Focus on Le El Sinbanpo Park Avenue and Others

[Asia Economy Reporter Lee Chun-hee] This week, 20,000 apartment units will flood the sales market, marking the largest weekly supply so far this year. With the scheduled end of the private land price ceiling exemption period at the end of July and upcoming restrictions on resale of pre-sale rights in the metropolitan area and major provincial cities, there is a growing trend of supply aimed at evading regulations.

According to Real Estate 114 on the 8th, a total of 19,393 apartment units across 33 complexes will be supplied nationwide this week. Among these, 12,029 units are for general sale. Notable listings include 'Le El Sinbanpo Park Avenue' in Seocho-gu, Seoul; 'Geomam Station Royal Park City Prugio' in Seo-gu, Incheon; 'Bupyeong SK View Haemoro' in Bupyeong-gu; 'Yangju Okjeong New Town Hanshin The Hue' in Yangju, Gyeonggi Province; and 'The Sharp Gwangju Forest' in Munheung-dong, Buk-gu, Gwangju.

The complex attracting the most attention from prospective buyers is 'Le El Sinbanpo Park Avenue,' which is accepting first-priority applications today. This is a reconstruction project of Sinbanpo 13th in Jamwon-dong, Seocho-gu. Although the scale is small, it is considered a 'lottery complex' expected to yield several hundred million won in capital gains, likely drawing a large number of applicants. It consists of three buildings with a maximum of 35 floors and a total of 330 units, of which 98 are for general sale. The units range from 66 to 141 square meters (exclusive area), with prices between 1.09 billion and 2.055 billion KRW. Since all units are priced above 900 million KRW, mid-term loans are not available. However, considering that an 84㎡ unit is priced between 1.48 billion and 1.721 billion KRW, while a similar-sized unit in the nearby 'Raemian Sinbanpo Palace' was traded at 2.27 billion KRW in April, significant capital gains are expected, attracting many cash-rich, non-homeowners.

On the same day, the Seoul Housing and Communities Corporation (SH Corporation) will begin recruiting tenants for 2,519 public rental units in Goduk Gangil complexes 4, 6, 7, and 9 in Gangdong-gu and Wirye 3 Block in Songpa-gu. This is the largest scale in seven years since 2,571 units were supplied in Segok, Magok, and Sinnae districts in 2013.

Perspective view of 'Le El Sinbanpo Park Avenue' in Jamwon-dong, Seocho-gu, Seoul (Provided by Lotte Construction)

On the 9th, a large-scale supply will take place in Incheon. DK Urban Development and DK Asia will supply 'Geomam Station Royal Park City Prugio' in Baekseok-dong, Seo-gu. Constructed by Daewoo Engineering & Construction, this apartment complex consists of 4,805 units ranging from 59 to 241 square meters, spanning from two basement floors to 40 floors above ground. It is divided into two complexes, with different announcement dates for winners, allowing for overlapping applications for both complexes. Prices range from 353.8 million to 2.01346 billion KRW.

On the same day, a consortium of SK Construction and Hanjin Heavy Industries will start first-priority applications for 'Bupyeong SK View Haemoro' in Bupyeong-gu. The complex consists of 17 buildings from two basement floors to 25 floors above ground, with 1,559 units ranging from 36 to 84 square meters. Among these, 884 units are for general sale, priced between 250.5 million and 571.7 million KRW.

On the 11th, Posco Construction will supply 'The Sharp Gwangju Forest' in Buk-gu, Gwangju. The complex consists of seven buildings with a maximum of 39 floors, including 907 apartments sized 84 to 131 square meters and 84 residential officetel units of 59 square meters. Apartment prices range from 448 million to 789 million KRW. On the same day, 'Okjeong New Town Hanshin The Hue' in Yangju, Gyeonggi Province, will also begin first-priority applications. This complex consists of nine buildings from two basement floors to a maximum of 29 floors, with 767 units sized 74 to 97 square meters. Prices range from 315 million to 490 million KRW.

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