If You Win, 200 Million KRW Capital Gain? ... 60,000 People Flock to 'Jupjup' Pyeongtaek Apartment

Over 57,000 people flocked to the “non-priority subscription (Jupjup)” for apartments in Dongsak-dong, Pyeongtaek-si, Gyeonggi-do. This is because the apartments were offered at prices from two years ago, raising expectations of several hundred million won in capital gains. The fact that applications could be made nationwide regardless of residence was also analyzed as a reason for the high competition rate.

Perspective view of Pyeongtaek Jije Station Zai.
[Photo by GS Construction]

According to the Korea Real Estate Agency’s Subscription Home on the 1st, 57,434 people applied for 4 units in the Pyeongtaek Jije Station Xi Jupjup (non-priority 1st round) subscription in Pyeongtaek-si, Gyeonggi-do. The average competition rate recorded was 14,358.5 to 1.

The 84㎡A exclusive area recorded the highest competition rate with 34,636 applicants (17,318 to 1) for 2 units. The 97㎡B exclusive area had 14,219 applicants for 1 unit, and the 74㎡A exclusive area had 8,579 applicants for 1 unit.

The reason tens of thousands of people flocked to the non-priority subscription is that the units were supplied at prices from two years ago, allowing winners to gain several hundred million won in capital gains. The sale prices by exclusive area are ▲74㎡ 397.5 million won ▲84㎡ 487.8 million won ▲97㎡ 558.8 million won. The sale right for the 97㎡ exclusive area in this complex changed hands last month for 759.44 million won, which is about 200 million won higher than the sale price.

Another factor cited is that applications can be made nationwide regardless of residence. Non-priority (post) subscriptions due to contract cancellations can be applied for nationwide. This is because the government relaxed sale regulations, allowing non-priority subscriptions to be applied for regardless of residence or home ownership.

On this day, non-priority subscriptions for 2 units canceled in this complex remain. One unit of 74㎡B exclusive area and one unit of 84㎡A exclusive area. However, non-priority subscriptions due to contract cancellations such as fraudulent applications require residence in Pyeongtaek.

Meanwhile, in the 1st priority subscription conducted in August 2021 for this complex, 17,323 people applied for 568 units, recording an average competition rate of 30.5 to 1. The penthouse with an exclusive area of 113㎡ recorded the highest competition rate of 99 to 1.

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