Over 1,000 People Flock to Gwangmyeong Jaideoshap Forena Special Sale... Average Competition Rate 2.64 to 1

The consortium of GS Construction, POSCO E&C, and Hanwha Construction attracted over 1,000 applicants for the special supply of Gwangmyeong Xi The Sharp Forena, located in the Gwangmyeong-dong area of Gwangmyeong City, Gyeonggi Province. The average competition rate recorded was 2.64 to 1.

Perspective view of Gwangmyeong Xi The Sharp Forena.
Photo by GS Construction

According to the Korea Real Estate Board's subscription homepage on the 7th, Gwangmyeong Xi The Sharp Forena received a total of 1,023 applications for 387 units in the special supply held on the 4th, resulting in an average competition rate of 2.64 to 1. The highest competition rate was 32 to 1 for the 74㎡C exclusive area, which had 2 units allocated for first-time homebuyers and attracted 64 applicants.

This complex consists of 28 buildings ranging from 3 basement floors to 38 above-ground floors, with exclusive areas ranging from 39 to 112㎡, totaling 3,585 units, of which 809 units are for general sale. It is effectively part of the Seoul living area as it borders Guro-gu and Geumcheon-gu in Seoul. It offers easy access to major hubs and central business districts in Seoul, Gyeonggi, and Incheon through a wide transportation network including Anyangcheon-ro, Seobu Expressway, Seohaean Expressway, Gangnam Circular Urban Expressway, and the 2nd Gyeongin Expressway. Additionally, it is close to subway Line 1's Gaebong Station and Gu-il Station, and Line 7's Gwangmyeongsageori Station, accessible by walking or bus transfers.

Nearby educational facilities include Gwangmyeongbuk Middle and High Schools, and Gwangmyeongdong Elementary School, with access to the Mokdong academy district. Parks such as Cheolsan Children's Park, Hyeonchung Neighborhood Park, Guro Gaebong Retention Basin Ecological Park, Mokgamcheon Stream, and Anyangcheon Stream are also nearby.

A sales official stated, "Due to high expectations for the Xi brand town forming in the Gwangmyeong New Town, a major reconstruction project in the metropolitan area, the model house that opened on the 29th of last month saw continuous visitors on both weekdays and holidays."

They added, "Although there are fewer subscription accounts within Gwangmyeong City due to relocation demand from reconstruction and redevelopment, there is significant interest from other regions including Seoul. Especially, many applicants flocked to the small-sized units, which received favorable reviews for their design. Expectations are also high for the results of the upcoming first-priority subscription."

However, some units allocated for multi-child families, newlyweds, elderly parent support, and institution recommendations were undersubscribed. For example, the 49㎡B type, with 70 units allocated for newlyweds, attracted only 60 applicants, resulting in a competition rate of 0.8 to 1. The 39㎡ type, with 54 units allocated, received only 8 applications.

Meanwhile, Gwangmyeong Xi The Sharp Forena will accept first-priority applications on the 8th and second-priority applications on the 9th. Applicants must be at least 19 years old, have been subscribed to a housing subscription savings account for at least 12 months, and meet the deposit requirements by region and area. Residents of the metropolitan area (Seoul, Gyeonggi, Incheon) can apply for first-priority subscription regardless of the number of houses owned or household head status. The winners will be announced on the 16th, and the official contract signing will take place over three days from the 27th to the 29th.

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