Subscription deposit alone 1.2 trillion won... Officetel 'Gap Short-term Trading'

'Hillstate Gwacheon Cheongsayeok' Competition Rate Hits Record 1398:1
Massive Surge of Applicants as Resale Becomes Possible

[Asia Economy Reporter Kim Hyemin] Subscription deposits amounting to 1.24426 trillion KRW poured into an officetel in Gwacheon, Gyeonggi Province, where the supply scale is less than 100 units. This is the result of investment demand seeking short-term capital gains in non-residential products that have avoided government regulations.

According to the Real Estate Agency's Subscription Home on the 3rd, a total of 124,426 applicants flocked to the officetel "Hillstate Gwacheon Government Complex Station" in Byeolyang-dong, Gwacheon City, which was held the day before. The supply was only 89 units, resulting in an average competition rate of 1,398 to 1. The subscription deposit, which is required to block speculative demand, was 10 million KRW, making the total subscription deposit scale 1.24426 trillion KRW. In particular, for the 84㎡T type, only 2 units were supplied, but 5,762 applicants applied, pushing the competition rate up to 2,888 to 1.

This competition rate is the highest ever among the subscription competition rates disclosed on Subscription Home, excluding non-priority subscriptions conducted for uncontracted or canceled winning units. Previously, the highest competition rate this year was 809 to 1 for the first-priority subscription of Dietre Prestige at Dongtan Station, which was supplied in April.

When the recruitment announcement for this complex was released, the lowest sale price was set at 1.555 billion KRW, sparking controversy over the high sale price. The penthouse-type sale price was 2.2 billion KRW, which is more than twice the sale price of surrounding general apartments. The sale price for the same area of the Lin Familier apartment supplied in August this year in Gwacheon Knowledge Information Town was in the 800 million KRW range.

The reason why so many applicants flocked to this subscription is believed to be because it is a mid-sized officetel suitable for 3-4 person families in a location called quasi-Gangnam, and because mid-term payment loans are possible.

In particular, it is understood that a large amount of investment demand poured in because the supply scale is less than 100 units, so resale restrictions do not apply. If the officetel's construction scale is less than 100 units, even in speculative overheated districts, sale rights can be freely bought and sold. Demand aiming for short-term capital gains from resale rights after winning is the background of the subscription overheating. Song Seunghyun, CEO of City and Economy, said, "As the entry barrier to apartments has risen due to loan regulations, investment demand is flocking to the officetel subscription market," adding, "It is evidence that a lot of liquidity with nowhere to go is circulating in the market."

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