Price Ceiling System 'Lotto Sale'... Final Sale Preparations in Deogeun and Wirye

[Asia Economy Reporter Yuri Kim] The last 'lottery sale' units subject to the price ceiling system in the metropolitan area this year will open for subscription in December in Goyang Deok-eun District and Wirye New Town. Although the resale restriction period is 6 to 10 years, the prices are several hundred million won cheaper compared to nearby apartment market prices, attracting the attention of prospective buyers.

On the 2nd of next month, 'Hoban Summit DMC Hills' in Block A3 of Deok-eun District, Goyang City, Gyeonggi Province, will start its subscription schedule. The complex consists of 5 buildings from basement level 2 to ground level 23, totaling 560 households. All units are composed of 84㎡ (exclusive area). Except for one household designated for relocation measures, 559 households are available for subscription, of which 333 units are special supply including newlyweds (112 units) and first-time homebuyers (84 units), and 226 units are general sales. The average sale price per 3.3㎡ is 19.65 million KRW, ranging from approximately 592.72 million to 657.39 million KRW.

Since Goyang City is a regulated area, 75% of the units will be supplied through a point-based system, and 25% through a lottery system. Due to the 25% lottery supply, one-homeowners can also apply for first-priority subscription. To qualify for first-priority subscription in the relevant area, the head of the household must have resided in Goyang for more than one year as of the announcement date of the resident recruitment. Additionally, applicants must meet the criteria of having a subscription savings account for more than two years and a deposit of at least 2 million KRW.

The location offers convenient access to Gangbyeonbuk-ro, the 1st and 2nd Jayu-ro, Gayang Bridge, and Olympic-daero, and the traffic conditions are expected to improve further with the opening of the World Cup Bridge currently under construction. Commercial and convenience facilities in the Digital Media City (DMC) area of Sangam-dong, Mapo-gu, Seoul, as well as the World Cup Stadium, large marts, and cinemas are also accessible. The complex is close to World Cup Park and Hangang Park. Neighborhood parks, schools, and kindergartens are planned around the complex.

Most units are arranged facing south, and 4 to 5 bay designs are applied. Community facilities such as fitness and GX rooms, golf practice ranges, small libraries, reading rooms, and multipurpose rooms will be established. Special supply starts on the 2nd of next month, followed by first-priority subscription for the relevant area on the 3rd, first-priority subscription for other areas on the 4th, and second-priority subscription on the 7th. Winners will be announced on the 11th, and contracts will be signed over three days from the 22nd to the 24th. The expected move-in month is December 2022, and the resale restriction period is 6 years.

Interest is also high in two public sale blocks in Wirye New Town, where move-in could be as early as August next year. This is because new homes can be purchased in Wirye at prices ranging from 500 million to 600 million KRW. Fifty percent of the supply is prioritized for residents who have continuously lived in Seoul for more than two years. The remaining 50% is allocated to residents in the metropolitan area (less than two years in Seoul, Gyeonggi, and Incheon).

The sale targets are Wirye New Town Blocks A1-5BL and A1-12BL. These blocks are located on the border between Geoye-dong, Songpa-gu, Seoul, and Hanam. A1-5BL consists of a total of 1,282 households. School sites are planned on the south and north sides of the complex. A1-12BL is a medium-sized complex with 394 households but is expected to offer convenient access to commercial and medical facilities on the west side of the complex. There is a green space between the two complexes allowing direct access to neighborhood parks, and Starfield and E-Mart are located to the southeast of the complex, enhancing accessibility to living convenience facilities. It is also close to Songpa IC, providing access to the Seoul Ring Expressway.

A streetcar between Unam and Macheon is expected to pass west of A1-5BL. Taking a village bus connects to Geoye Station and Macheon Station on Subway Line 5 within about 10 minutes. Wirye District A1-5BL consists of 66㎡, 70㎡, 75㎡, 80㎡, and 84㎡ units, while A1-12BL consists of 64㎡, 74㎡, and 84㎡ units. The sale price ranges from approximately 519.37 million to 657.10 million KRW for A1-5BL and from approximately 501.08 million to 654.90 million KRW for A1-12BL. The resale restriction period is 10 years, and the mandatory residence period is 5 years. For first-time homebuyer special supply, the supply ratio was increased from the existing 20% to 25%.

Meanwhile, 'Hillstate Reeshuville Gangil' in Block 5 of Gangil 2 District and 'Godeok Gangil Jeil Punggyeongchae' in Block 1 of Gangil 1 District are also awaiting sale. These two complexes include mid- to large-sized units over 85㎡, attracting interest from non-homeowners and one-homeowners with low points. The sale price is expected to be in the early to mid-20 million KRW range per 3.3㎡. Applying this, the price for an 84㎡ unit is in the 700 million KRW range, which is 200 million to 900 million KRW cheaper than surrounding market prices.

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