This Year’s Subscription Market Sees Soaring Popularity of Exclusive 84㎡ Apartments

[Asia Economy Reporter Donghyun Choi] The preference for 84㎡ (exclusive area) in the subscription market is becoming more pronounced. Over the past three years, the average first-priority subscription competition rate for 84㎡ has continuously increased, and this year it recorded more than double the competition rate compared to last year.

On the 19th, real estate research firm Realtoday analyzed data from the Korea Financial Telecommunications & Clearings Institute and found that the subscription competition rate for 84㎡ units supplied nationwide over the past three years (January 2018 to December 14, 2020) has steadily risen.

In 2018, 69,181 units of 84㎡ were offered, attracting 1,004,392 applicants, resulting in an average competition rate of 14.52 to 1. In 2019, 82,491 units were offered, drawing 1,248,615 applicants, recording a rate of 15.13 to 1.

This year, 66,469 units were offered with 2,175,607 applicants, achieving a competition rate of 32.73 to 1, more than double that of last year. This is a remarkable increase compared to the 1.2 times rise in the first-priority subscription competition rate for 59㎡ during the same period. For 59㎡, last year 23,213 units were offered with 253,279 applicants, resulting in a competition rate of 10.91 to 1, and this year 33,050 units were offered with 434,243 applicants, recording a rate of 13.14 to 1.

An industry insider stated, "The 84㎡ size is optimized for families of 3 to 4 members, so there is a solid basic demand, showing consistent strength in the subscription market. Because there is high demand, sales transactions are active, and the corresponding house price increase rate is also high."

In fact, the 84㎡ units, which attract significant interest from buyers, have shown higher house price appreciation rates than smaller units. For example, in Guwol-dong, Namdong-gu, Incheon, the ‘Guwol Hillstate 1 Complex’ saw a 24.42% increase in the market price of 84㎡ units over the past year, while the 59㎡ units increased by only 18.53%. Additionally, in Gwonseon-gu, Suwon-si, Gyeonggi Province, the ‘Suwon I-Park City 5 Complex’ 84㎡ units were traded at 485 million KRW in December last year and rose to 640 million KRW this month, marking a 31.96% increase, whereas the 59㎡ units rose by only 10.53% during the same period.

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