Sejong Detached Houses Also See Hot Demand in Subscription

Single-Family Home La Porte Sejong Subscription Results Average 38.85 to 1
Rising Housing Prices Increase Competition Not Only for Apartments but Also for Single-Family Homes

[Asia Economy Reporter Onyu Lim] As discussions about relocating the administrative capital ignite the housing market in Sejong City, demand is surging not only for apartments but also for detached houses.

According to Geonyeong on the 14th, the recent subscription results for the detached housing complex La Porte Sejong, supplied by the company, showed that 4,934 applicants applied for 127 households, achieving a full sell-out with an average competition rate of 38.85 to 1. La Porte Sejong is a block-type detached housing complex consisting of 127 households ranging from one basement floor to a maximum of three above-ground floors. By type, it consists of 54 terrace-type households (▲T1 type 18 households ▲T2 type 18 households ▲T3 type 18 households) and 73 detached-type households.

In particular, the 84㎡ (exclusive area) A type of this housing attracted 3,009 applications for 73 households, recording a competition rate of 41.2 to 1. The terrace-type T3 type also saw 721 applicants for 18 households, reaching a competition rate of 40.1 to 1.

The subscription success of La Porte Sejong was anticipated even before the subscription opened. The company explained that two rounds of pre-visit reservations on the homepage were both fully booked within just 10 minutes.

The large number of applicants for detached houses, which typically have limited demand, appears to be influenced by the rapid rise in Sejong City housing prices. Expectations for the capital relocation are spreading not only to apartments but also to detached houses.

In fact, Sejong housing prices, which had been on the rise since the beginning of the year, began to steepen after Daejeon was designated as a regulated area under the June 17 real estate measures. Furthermore, since the government and ruling party began serious discussions about relocating the administrative capital this summer, Sejong City housing prices have soared dramatically. According to the Korea Real Estate Board, as of last month, the comprehensive housing sale price index in Sejong City rose 35.84% compared to last year. On the 1st, a 149.71㎡ unit in Hansol-dong First Village Complex 3 was traded at 1.7 billion KRW, the highest apartment sale price in Sejong City. Not only apartments leading the price increase but also the detached housing sale price index rose by 7.05%, the highest level nationwide.

A real estate industry official said, "Sejong City is an area where detached houses are rare because it is densely packed with apartments," adding, "As housing prices in the area continue to rise recently, the popularity of detached houses seems to have increased even more."

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