Seoul-Adjacent Goyang Changneung and Namyangju Wangsuk Attract Hot Interest

4th Public and 2nd Private Pre-Subscription Begins... Namyangju Wangsuk Has the Largest Supply
Daebang-dong, the Only Site in Seoul, 100% Supplied to Seoul Residents
Strategy Targeting Newlywed Hope Town Can Increase Winning Chances

The 4th public and 2nd private pre-subscription, utilizing public housing sites in the metropolitan area with a total supply of 16,876 households, began on the 10th. The supply volume is comparable to the total volume of the 1st to 3rd public pre-subscriptions (18,602 households), and since the first units are being offered not only in the 3rd new towns of Goyang Changneung and Bucheon Daejang districts but also in Daebang-dong, Dongjak-gu, Seoul, interest among homebuyers is high. Experts advise that a strategic approach is necessary to increase the chances of winning, as competition rates vary greatly depending on location, volume, and sale price.

◆ Demand expected to concentrate in Goyang Changneung and Namyangju Wangsuk = The 4th public pre-subscription is conducted in 12 districts. By district, the supply is △Incheon Gyeyang 302 households △Namyangju Wangsuk 2,352 households △Bucheon Daejang 1,863 households △Goyang Changneung 1,697 households △Seongnam Geumto 727 households △Bucheon Yeokgok 927 households △Siheung Geomo 1,325 households △Ansan Jangsang 922 households △Ansan Singil 1,372 households △Seoul Daebang 115 households △Guri Galmae 1,125 households △Goyang Janghang 825 households.

Applications start with special public supply from the 10th to the 14th, followed by general supply (local area) on the 17th, and general supply (metropolitan area) on the 19th. For the Newlywed Hope Town, applications are accepted on the 10th for the local area and on the 17th for the metropolitan area. Winners will be announced on the 17th of next month.

The most attention is on the Goyang Changneung district, adjacent to Eunpyeong-gu, Seoul. Once the GTX-A line is completed, it will take about 10 minutes to reach Gangnam, Seoul. The estimated sale price is 673 million KRW for an 84㎡ (exclusive area). Considering that the sale price of newly built apartments of the same size in the nearby Samsong district exceeds 1 billion KRW, this means apartments can be purchased about 300 to 400 million KRW cheaper. For example, an 84㎡ unit in Samsong-dong’s ‘Samsong 2nd I-Park’ was sold for 1.045 billion KRW, and a similar-sized unit in Hyangdong district’s ‘DMC L’Shuville The Forest’ was sold around 1.04 billion KRW.

The district with the largest supply (2,352 households), Namyangju Wangsuk, is also expected to be highly competitive. The estimated sale price for an 84㎡ unit is between 489.17 million and 523.22 million KRW.

Kwon Il, head of the research team at Real Estate Info, said, "Goyang Changneung is a highly preferred location among pre-subscription applicants, and competition is expected to be comparable to Hanam Gyosan."

◆ Daebang-dong, the only site in Seoul, prioritized for Seoul residents = The supply in Daebang-dong, Dongjak-gu, the only subscription site in Seoul, consists of 115 units of Newlywed Hope Town, all small apartments of 55㎡. Since 100% of the supply is prioritized for Seoul residents, it is expected that residents of Incheon and Gyeonggi will have little chance. It is a 7-minute walk to Daebang Station on Subway Line 1, making commuting to Yeouido and downtown convenient. However, the small-scale complex is considered a drawback. The estimated sale price is 724.63 million KRW.

The Bucheon Daejang district, with 1,863 units available, is expected to attract many workers from northwest Seoul areas such as Magok. Only small units ranging from 46 to 59㎡ are supplied. The estimated sale price is around 430 million KRW for a 59㎡ unit.

In private sales, 658 units in Pyeongtaek Godeok and 2,666 units in Incheon Geomdan, both 2nd new towns, are supplied. Except for penthouses in Incheon Geomdan, estimated sale prices generally range from 300 million to 600 million KRW. The penthouses are five duplex units of 147㎡, with a sale price of 1.04 billion KRW.

◆ Strategies for Newlywed Hope Town and private sales for those under 30 = Experts advise that targeting Newlywed Hope Town can be a strategy to increase winning chances. Newlywed Hope Town units are smaller, ranging from 46 to 59㎡, and tend to be less preferred compared to public sale units. In fact, in the 3rd pre-subscription, the Newlywed Hope Town in Gwacheon Juam was undersubscribed in the local area, allowing opportunities to shift to the metropolitan area.

It is also pointed out that applicants under 30 or those without sufficient subscription points have a relative advantage by applying for private pre-subscriptions rather than public ones. Private pre-subscriptions supply 682 units, 21% of the total supply, by lottery. In this 2nd private pre-subscription, 94% of the units are 84㎡ or larger, which are highly preferred by applicants, and 709 units exceed 100㎡ in exclusive area, classified as large units.

Han Jin, a KB Real Estate specialist, said, "Looking at the competition rates of the 1st, 2nd, and 3rd pre-subscriptions, the order of competition rates is public general supply, special supply, and Newlywed Hope Town. If only winning probability is considered, targeting Newlywed Hope Town, which has relatively lower competition, can be a method."

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