'Non-Regulation Premium' Drives Over 27,000 Applicants in Seoul Metropolitan Area Q4 Subscription

Most 4th Quarter 'Non-Regulated Seoul Metropolitan Area' Units Closed in First Priority
27,709 Applicants for 1,618 General Households
'Non-Regulation Premium' Including No Resale Restrictions, Subscription Requirements, and Loan Limits

In the fourth quarter, most complexes in the 'non-regulated areas of the metropolitan area' recorded first-priority subscription closures, proving their popularity. The eased 'non-regulation premium' regarding resale restrictions, subscription requirements, and loan limits continues to attract attention.

Average competition ratio reached up to 39.78 to 1... 27,709 people flocked to 'non-regulated metropolitan area' in the fourth quarter alone

The non-regulated supply in the metropolitan area showed high popularity again this year. The premium of being 'non-regulated' and located in a 'neighboring area next to Seoul' drew attention, and scarcity increased under the government's 'regulation field creation' policy.

According to Real Today, a real estate research firm, there were a total of 7 apartment subscription sites in the non-regulated metropolitan area in the recent fourth quarter, excluding special supply, with 1,618 general households. A total of 27,709 people applied, recording an overall average competition ratio of 17.13 to 1, and most complexes closed at first priority. This result contrasts sharply with the common notion that 'non-regulated areas are unpopular.'

In particular, GS Construction's 'Icheon Xi The Park' supplied in Icheon-si, Gyeonggi Province, attracted 15,753 applicants for 396 general households excluding special supply, recording an average competition ratio of 39.78 to 1, drawing attention. The highest competition ratio was 66.82 to 1 for an 84㎡ unit, where 735 people applied for 11 households.

An industry insider said, "The rising demand for non-regulated areas in the metropolitan area is interpreted as a 'balloon effect,' where nearby 'neighboring areas' benefit as major cities like Seoul are suppressed by strong regulations. Especially, since the remaining non-regulated areas are likely to be gradually included in regulated areas, demanders' interest in non-regulated metropolitan areas is expected to grow further."

Non-regulated metropolitan areas capturing demanders... Scarcity value increases as even Dongducheon-si is included in regulations

In non-regulated metropolitan areas, subscription requirements, resale restriction periods, and loan limits are relatively eased.

First, there is no re-winning restriction (except that those who won by the point system within the last 2 years can apply by lottery in first priority), so applicants can apply regardless of previous housing wins. Also, not only residents of the supply area but metropolitan area residents aged 19 or older with a subscription savings account for at least 12 months and meeting deposit conditions by region and area can apply as first priority regardless of household head or member status and homeownership.

Especially, in some areas, the resale restriction period is as short as 6 months from the date of winner selection, which is a strength of non-regulated metropolitan area supplies. The short resale restriction period is attractive because it basically offers excellent liquidity.

Also, in non-regulated areas, 60% of units under 85㎡ are selected by lottery, and 100% of units over 85㎡ are selected by lottery. Since the lottery system randomly selects winners, it attracts interest from low-score applicants.

Although non-regulated metropolitan area supplies are attractive to demanders, the supply volume is expected to decrease gradually. This is because the few remaining non-regulated metropolitan areas are likely to be included in regulated areas one by one.

In fact, at the 'Housing Policy Deliberation Committee (Jujeongshim)' held in August, the government included Dongducheon-si, Gyeonggi Province, which was previously a non-regulated area in the metropolitan area, as a regulated area. The newly designated areas are six neighborhoods within the city (Songnae-dong, Jihaeng-dong, Saengyeon-dong, Bosan-dong, Dongducheon-dong, Sangpae-dong).

According to the Ministry of Land, Infrastructure and Transport, due to growing expectations for improved transportation conditions, speculative demand has flowed into complexes near station areas in Dongducheon-si, causing a surge in transaction volume and an increase in housing price growth rates. According to the Korea Real Estate Board, the 'non-local transaction volume' of apartment sales in Dongducheon-si from January to October this year was 954 cases, nearly three times the 350 cases in the same period last year.

Also, the apartment sales price index in Dongducheon-si has steadily risen from 89 points at the end of last year to about 107.7 points in November this year. The government quickly designated Dongducheon-si, which was a non-regulated metropolitan area, as a regulated area after detecting its rapid popularity increase. It remains uncertain which other areas will be included in regulated areas in the future.

'Hillstate Chowol Station' perspective / Provided by Hyundai Engineering.

Remaining non-regulated metropolitan area apartment subscription site within the year: 'Hillstate Chowol Station'... 2 blocks, total 1,097 households

According to the Real Estate Agency's subscription home, the remaining non-regulated metropolitan area apartment subscription site within the year is 'Hillstate Chowol Station.' It is located in Ssangdong 4 District 1 and 2 blocks in Chowol-eup, Gwangju-si, Gyeonggi Province, with a total of 1,097 households. Gwangju-si, Gyeonggi Province, is currently partially regulated, but Chowol-eup, where the project site is located, is a non-regulated area.

The complex consists of 15 buildings from 3 basement floors to 20 above-ground floors, with units ranging from 59 to 101㎡, totaling 1,097 households. Special supply starts on the 27th, followed by first-priority subscription applications on the 28th. Block 1 has 8 buildings with 591 households, and Block 2 has 7 buildings with 506 households.

It is located near Chowol Station on the Gyeonggang Line, and from Pangyo Station, 4 stops away, you can transfer to the Shinbundang Line to reach Seoul Gangnam Station in 3 stops. From Imae Station, you can transfer to the Suin-Bundang Line for convenient access to Bundang. Nearby are Dogok Elementary School and Chowol Middle School, allowing walking access for students. Additionally, various green spaces and waterfront parks such as Baekmasan and Gonjiamcheon are nearby, providing residents with a pleasant natural environment.

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