Hanshin Gongyeong 'Geomdan Hanshin The Hue Urban Park' Closes Subscription with Average Competition Rate of 5 to 1

Exclusive 84㎡ Type D Records Highest Competition Rate of 7.78 to 1

Perspective view of Geomdan Hanshin The Hue Urban Park / Photo by Hanshin Engineering & Construction

[Asia Economy Reporter Noh Kyung-jo] Hanshin Engineering & Construction has completed tenant recruitment for the public-supported private rental apartment "Geomdan Hanshin The Hue Urban Park" in Geomdan New Town, Incheon, with a top competition rate of 7.78 to 1.

According to the Korea Real Estate Board's subscription website on the 28th, Geomdan Hanshin The Hue Urban Park received a total of 3,213 applications for 642 units (excluding youth share-type) during the special and general supply subscription period from the 26th to the 27th, recording an average competition rate of 5 to 1. In particular, the 84㎡ D-type, with 138 units available, received 1,074 applications, showing the highest competition rate of 7.78 to 1.

A sales official explained, "In a situation where interest burdens are increasing due to the rise in the base interest rate, the fact that tenants can pay reasonable rent and live long-term as if it were their own home attracted high interest from subscription applicants," adding, "Since it has good accessibility to Seoul business districts and promising educational and residential environments, contracts are expected to proceed smoothly."

The complex is located at 264-7 Dangha-dong, Seo-gu, Incheon, consisting of 8 buildings ranging from 2 basement floors to 29 above-ground floors, with a total of 910 units of 74㎡ and 84㎡. The future supply schedule includes announcing the winners on the 1st of next month and conducting official contracts from the 11th to the 15th. Move-in is scheduled for March 2023.

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