Victory in the Station Area? GS Construction vs DL E&C, Mixed Fortunes in the 'Gapyeong Showdown'

▲Gapyeong Xi perspective view (Provided by GS Construction)

[Asia Economy Reporter Kim Hyemin] Located a 17-minute walk apart, DL E&C (formerly Daelim Industrial) and GS Construction, which competed in sales across from Gapyeong Sports Complex, experienced mixed fortunes. On the 4th, GS Construction's 'Gapyeong Xi,' which launched sales later, surpassed all previous records.

According to the Korea Real Estate Agency's subscription website on the 3rd, the first-priority subscription for 'Gapyeong Xi' held the previous day attracted 4,176 applicants for 365 units (excluding special supply), recording an average competition rate of 11.44 to 1. The most competitive was the 84㎡ exclusive area (90 units supplied), which received 2,178 applications. It recorded a maximum competition rate of 24.2 to 1 by housing type and closed all housing types with first-priority subscriptions.

On the other hand, DL E&C's 'e-Pyeonhansesang Gapyeong First One,' which held subscriptions on the 29th of last month, failed to close first-priority subscriptions except for the 84㎡A type. Although the number of applicants exceeded the supply scale (381 units), it did not secure at least three times the number of reserve winners for the supplied units. The number of first-priority subscription applicants was 1,314, and after conducting second-priority subscriptions, a total of 2,392 applications were received. The average competition rate was 6.28 to 1.

▲Perspective view of e-Pyeonhansesang Gapyeong First One

The price competitiveness was higher for 'e-Pyeonhansesang Gapyeong First One.' The sale price per 3.3㎡ was 9.5 million KRW, about 1 million KRW cheaper than 'Gapyeong Xi.' For the most popular 84㎡ exclusive area, including balcony expansion fees, the total price difference was about 30 million KRW.

The real estate industry views that despite this, Gapyeong Xi's relatively better performance is due to differences in location preference. An industry insider said, "e-Pyeonhansesang Gapyeong First One is classified as a living area with elementary and middle schools, county office, and convenience facilities, whereas Gapyeong Xi is closer to Gapyeong Station and classified as a station area," adding, "Although it lags in living area, investment demand from non-regulated areas poured into Gapyeong Xi, which is a station area."

Gapyeong, where the two apartments are located, is one of the few non-regulated areas left in Gyeonggi Province, relatively free from regulations on subscriptions, loans, and taxes. It is possible to resell the pre-sale rights six months after the winner announcement date, and even multi-homeowners can get loans when purchasing houses.

An official from a nearby real estate agency said, "Both apartments have subscription scales rarely seen in Gapyeong," and added, "It seems that almost all local residents applied for subscriptions." He continued, "Since demand within the region is limited, external inflow is ultimately important, and choices likely varied depending on brand preference and location."

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