Overflowing 'Jupjup'... Over 500 Households Released in the Capital Area This Month Alone

Apartment complex overview / Photo by Moon Honam munonam@

[Asia Economy Reporter Ryu Tae-min] This month, more than 500 units of non-priority subscription, also known as ‘Jupjup’, have flooded the metropolitan area. The number of uncontracted units at the time of subscription increased, and there were several cases where multiple subscription rounds were held due to undersubscription even in the non-priority subscription. This is attributed to reduced expectations for capital gains and increased burden on buyers due to high sale prices.

According to the Korea Real Estate Agency’s Subscription Home on the 9th, a total of 174 units of non-priority subscription are being conducted in the metropolitan area on this day. Along with 4 units of Gwacheon Weverfield in Wonmun-dong, Gwacheon-si, Gyeonggi Province, known as the ‘1 billion won lotto’, subscription applications are being accepted for 99 units in 1BL, 66 units in 2BL, and 3 units in 3BL of Hillstate Montero 1BL in Cheoin-gu, Yongin-si.

Previously, on the 2nd, a total of 215 units were offered for non-priority subscription, including 106 units of Bucheon Wonjong I-One City, 57 units of Suwon Seogwanggyo Parkview, and 21 units of Songdo Central River Rich. On the 3rd, 16 units of Songdo Lux Ocean SK View were also offered for non-priority subscription. Including these, a total of 547 non-priority units have flooded the metropolitan area this month. Non-priority subscription, called ‘Jupjup’, refers to selecting winners through a random draw when there are contract cancellations or disqualified winners after resident selection.

Additionally, on the 11th of this month, a total of 145 units will enter non-priority subscription in Seoul. ‘VT Style’ supplied in Jangan-dong, Dongdaemun-gu, Seoul, will accept non-priority subscription applications for 12 uncontracted units. This complex conducted its first non-priority subscription for 33 units in September last year, and this will be the eighth round. In Suyu-dong, Gangbuk-gu, Seoul, the second non-priority subscription will be held for a total of 133 units, including 59.9㎡ and 78.2㎡ units of ‘Cantavil Suyu Palace’.

The increase in non-priority subscription units appears to be due to the slowdown in housing price rises and the increased burden on buyers caused by high sale prices. Song Seung-hyun, CEO of City and Economy, explained, "Due to the housing market boom in recent years, demand has been somewhat resolved as crowds flocked to subscriptions, and with many complexes having high sale prices making it difficult to enjoy capital gains, the attractiveness has diminished." He added, "In Seoul, some areas such as Gangbuk and Gwanak-gu are not subject to the pre-sale price control system, and many have restrictions on resale, so complexes that are being ignored unlike before are increasing."

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