Transit-Oriented and Small-to-Medium Complexes Sweep This Year's Housing Subscription Accounts

[Asia Economy Reporter Choi Dong-hyun] Small to medium-sized apartments located near subway stations are gaining great popularity in this year’s housing market.

According to the Korea Real Estate Board’s Subscription Home as of the 5th, among the apartments supplied in Seoul and the metropolitan area from January to October this year, the complex with the highest average first-priority subscription competition rate was ‘Godeok Artes Misozium,’ a complex near Godeok Station on Line 5 in Godeok-dong, Gangdong-gu, supplied in October. With 26 units for general sale attracting 13,964 subscription applications, it set a record-breaking competition rate of 537.08 to 1. Following this, ‘DMC SK View I-Park Foret,’ also located near a subway station, recorded a competition rate of 340.27 to 1, and ‘Seocho Xi Rene’ followed with 300.2 to 1.

In Incheon, ‘Bupyeong Station Hanla Vivaldi Treviang,’ supplied in April, showed the highest competition rate of 251.91 to 1, and in Gyeonggi Province, ‘Byeollae Xi The Star’ recorded 203.31 to 1. Both are complexes near Bupyeong Station on Line 1 and Byeollae Station on the Gyeongchun Line, respectively.

Among the top 10 complexes with the highest first-priority subscription competition rates, except for one complex composed solely of large units, 80% (976 units) of the 1,219 units in the remaining nine complexes were small to medium-sized apartments under 85㎡. An industry insider stated, “The biggest consideration for homebuyers is the ‘transportation environment,’ and among these, apartments near subway stations are highly preferred. Along with the subway station location, which is considered a key success factor in the housing market, the popularity of small to medium-sized apartments with relatively lower price burdens is expected to continue.”

Prospective subscribers are also showing strong interest in newly supplied complexes that offer convenient transportation and lower price burdens. Lotte Construction and POSCO Construction plan to supply ‘Bupyeong Castle & The Sharp First’ this month in Cheongcheon-dong 104 area, Bupyeong-gu, Incheon, developed through the Cheongcheon 1 District housing redevelopment project. The complex consists of 12 buildings from basement level 2 to 29 floors above ground, totaling 1,623 units, with 1,140 units sized 59 to 84㎡ available for general sale. All units are small to medium-sized under 84㎡, which are highly preferred by buyers, and with a high general sale ratio of 70%, strong interest is expected from prospective subscribers hoping for royal buildings and preferred unit numbers.

Hanwha Construction will also supply ‘Hanwha Forena Incheon Yeonsu’ this month in Seonhak-dong 151-3 area, Yeonsu-gu, Incheon. The complex consists of 9 buildings from basement level 3 to 23 floors above ground, with a total of 767 units all sized 84㎡. It is located adjacent to Mujugol Neighborhood Park, approximately 85,000㎡ in size, developed as Incheon’s first private park special project, providing a pleasant residential environment and permanent natural views of Munhak Mountain. The complex is within walking distance of Munhak Stadium Station on Incheon Line 1, and just three subway stops away from Incheon Line 2 (Incheon City Hall Station) and Suin-Bundang Line (Woninjae Station), making access to Seoul and other Gyeonggi areas convenient.

City Construction will open first-priority subscription applications on the 15th for ‘Hwaseong Namyang City Pradium Phase 4’ in B-14BL, Namyang New Town, Hwaseong City, Gyeonggi Province. The complex consists of 7 buildings from basement level 2 to 23 floors above ground, all units sized 84㎡, totaling 556 units. Near the complex, the Seohae Line double-track railway ‘Hwaseong City Hall Station’ is scheduled to be newly established in 2022, and it will be connected with the Sinansan Line, targeted to open in 2024. With the opening of the Metropolitan Area 2nd Outer Ring Road planned for next year and the Bal-an to Namyang Expressway development project connecting Namyang-eup and Paltan-myeon in Hwaseong City underway, transportation across the metropolitan area is expected to become more convenient due to road network development.

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