'Ultra-compact' Sewoon Prugio Heritage Also Fully Subscribed in 1st Priority... Seoul Subscription Unbeatable

[Asia Economy Reporter Kim Hyemin] Seoul has continued its undefeated streak in subscription applications even for micro-apartments. The 'Sewoon Prugio Heritage,' the fifth apartment complex to be sold this year, closed subscriptions for all housing types in the first priority round.

According to the Korea Real Estate Board's subscription website on the 18th, the complex, which received first priority subscriptions from the designated area (residents who have lived in Seoul for over 2 years) the previous day, attracted 4,126 applicants for 141 units, recording an average competition rate of 29.3 to 1. Located in Inhyeon-dong 2-ga, Jung-gu, Seoul, at 151-1, this complex is a mixed-use residential building with 9 basement floors and 26 above-ground floors.

The largest unit type, 42㎡A, had 7 units available and attracted 2,754 applicants, resulting in a subscription competition rate of 393.4 to 1. Following that, the 29㎡C unit type recorded 19.3 to 1, 24㎡C at 16.5 to 1, 29㎡A at 11.1 to 1, 24㎡A at 7.9 to 1, and 28㎡A at 7.6 to 1.

This complex, built in the Sewoon Redevelopment Promotion District 6-3-4, located in downtown Seoul, attracted attention due to its convenience for office workers' commuting. However, the subscription competition rates for the relatively micro-sized units were not very high. Nevertheless, the undefeated streak of closing subscriptions in the first priority round continued.

The Seoul subscription market remains hot this year as well. The first apartment complex sold this year, Jayang Haneulchae in Jayang-dong, Gwangjin-gu, recorded an average competition rate of 367.4 to 1 with nearly 10,000 applicants for 27 units, despite being a standalone apartment. Gwanak Central Heights Fore in Bongcheon-dong, Gwanak-gu, also recorded an average competition rate of 217.8 to 1 with 3,922 applicants for 18 units. Godeok Gangil Jeil Punggyeongchae in Godeok-dong, Gangdong-gu, attracted 73,769 applicants for 491 units (150.2 to 1). City Pradium near Ssangmun Station in Dobong-gu recorded an average competition rate of 51.31 to 1 with 3,541 applicants for 69 units.

On the 24th, 'Avenue Cheonggye I' (99 units) in Jongno-gu is scheduled for subscription. This is the first small apartment supply in Jongno-gu in seven years. Next month, Raemian One Bailey in Banpo-dong, Seocho-gu, will open for general subscription. It is the first private reconstruction apartment subject to the price ceiling system, with 224 units available for the general public excluding the union members' quota.

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