'House Prices Surge' in Busan, Leading Local Metropolitan Cities in Subscription Competition Rate... '60 to 1'

Average First-Choice Subscription Competition Rate in 5 Major Provincial Cities 31.67 to 1... Double Digits in All Areas
Busan's First-Choice Subscription Competition Rate Rises 5.9 Times Compared to Last Year... Analysis of Regulation Lift Impact

[Asia Economy Reporter Yuri Kim] This year (January to October), the sales performance of new apartment complexes in the five major provincial metropolitan cities showed a positive trend, unlike last year. Busan led the way, with Daejeon, Gwangju, and Daegu all showing double-digit subscription competition rates. Ulsan, which experienced undersubscription of new complexes last year, also saw improvement this year.

According to Real Estate 114 on the 15th, a total of 32,306 households in the five major provincial metropolitan cities received general subscription applications (excluding special supply) this year, with 1,022,983 first-priority subscription accounts applying. The average first-priority competition rate was about 31.67 to 1.

By region, Busan recorded the highest competition rate at 59.88 to 1. This was followed by Daejeon at 32.41 to 1, Gwangju at 24.07 to 1, Daegu at 22.39 to 1, and Ulsan at 20.26 to 1.

Busan's competition rate rose approximately 5.9 times compared to last year. Last year, Busan's first-priority subscription competition rate was 10.11 to 1. The sharp increase in Busan's competition rate is analyzed to be the result of the entire Busan area, including Haeundae-gu, Suyeong-gu, and Dongnae-gu, becoming a non-regulated area in November last year. According to the Korea Real Estate Agency, the first-priority competition rate for 'Ssangyong The Platinum Haeundae,' which was supplied in March, recorded 226.45 to 1.

Ulsan, which had an average first-priority competition rate of 2.61 to 1 last year, also showed a different trend this year with a first-priority subscription competition rate of 20.26 to 1. The number of first-priority applicants reached 90,407. This is analyzed to be due to the recovery of the shipbuilding industry and the large supply volume in Nam-gu, a highly preferred residential area in Ulsan.

Daejeon and Gwangju also recorded double-digit competition rates this year, but these declined compared to last year's 55.46 to 1 and 41.85 to 1, respectively. Daegu maintained a similar level to last year.

Looking at the individual performance of new complexes in the five major provincial metropolitan cities this year, the top five complexes were all supplied in Busan and Ulsan. The complex with the highest subscription performance was 'Munsuro Daegongwon Aileen's Garden' supplied in Nam-gu, Ulsan, with a first-priority subscription competition rate of 309.83 to 1. This was followed by 'Ssangyong The Platinum Geoje Asiad' in Yeonje-gu, Busan at 230.73 to 1, 'Ssangyong The Platinum Haeundae' in Haeundae-gu at 226.45 to 1, 'Seomyeon Vista Dongwon' in Busanjin-gu at 224.4 to 1, and 'Yeonje SK View Central' in Yeonje-gu at 167.14 to 1, all showing high competition rates.

In these five major provincial metropolitan cities, the number of households scheduled for supply within the year includes 6,352 in Busan, 1,416 in Daejeon, 782 in Gwangju, and 6,839 in Daegu. These include 'Hillstate Namcheon Station The First' by Hyundai Engineering, launched this month in Namcheon-dong, Suyeong-gu, Busan; 'Daejeon Haneulchae Sky&' by Kolon Global, supplied this month in Seonhwa-dong, Jung-gu, Daejeon; and 'Hillstate Gwangcheon' by Hyundai Engineering, launched this month in Gwangcheon-dong, Seo-gu, Gwangju. In Daegu, 'Jungangno Station Prugio The Central' is scheduled for supply in December.

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