'3 Years Ago Sale Price' Gwacheon Designated Area Non-Qualified Subscription Highest 4746 to 1

Four complexes within the Gyeonggi-do Gwacheon Knowledge Information Town (Jijeongta) recorded a highest competition rate of 4,746 to 1 in the non-priority subscription, achieving great success.

Gwacheon Prugio Ortus Bird's-eye View / Image Courtesy of Daewoo E&C

According to the Korea Real Estate Board's subscription homepage on the 15th, Lesento Desiang in Gwacheon saw 4,746 applicants vying for one unit (exclusive area 84㎡) in the non-priority subscription, marking the highest competition rate.

Daewoo E&C's Gwacheon Prugio Bellarte had 3,926 applicants competing for the remaining one unit (exclusive 99㎡). Additionally, Gwacheon Prugio Ortus, which held non-priority subscriptions for two units of 74㎡ and one unit of 84㎡, recorded competition rates of 980.5 to 1 and 2,859 to 1, respectively.

Gwacheon Prugio Lavieno, the only complex offering a special supply for newlyweds (one unit, exclusive 84㎡), closed its subscription with a competition rate of 683 to 1.

Despite restrictions allowing only non-homeowners residing in Gwacheon with a mandatory residence period of five years to participate, the demand surged as the sale prices were set at levels comparable to three years ago. Since the announcement dates for winners varied by complex, overlapping subscriptions were also possible.

The sale price was around 800 million KRW for an 84㎡ unit. Considering that nearby complexes of the same size, such as Raemian Sur and Gwacheon Centreville Asterium, were traded in March at around 1.3 billion KRW, buyers can expect several hundred million KRW in capital gains.

Meanwhile, all these complexes were sold in the second half of 2020. At that time, they attracted attention as half-price "lottery" apartments, recording triple-digit high subscription competition rates. However, there were also many fraudulent applicants through false address registrations. Eventually, in legal battles, fraudulent applicants lost, and contracts were canceled, with these units gradually being released again through non-priority subscriptions.

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