Seomyeon Summit The New, Subscription Success Fuels High Expectations for Contract Rate

- High-End Premium Location, Brand, and Product Drive Seomyeon’s Urban Polarization
- Anticipation Builds for ‘Seomyeon Summit The New’ Ahead of Official Contracts from September 8 to 10

'Seomyeon Summit The New,' a highly anticipated high-end residential project in downtown Busan, achieved strong results in its first-round subscription, receiving 2,605 applications. The average competition ratio for subscriptions was 3.44 to 1. In particular, for the exclusive 84㎡A type, 1,634 people applied for 77 available units, resulting in the highest competition ratio within the complex at 21.22 to 1.

This subscription result is seen as a synergy effect following the supply of 'Summit Limited Namcheon' in Namcheon-dong, Busan. The first-round subscription for 'Summit Limited Namcheon' attracted 16,286 first-round subscription accounts, achieving an average competition ratio of 22.62 to 1. This was the highest number of subscription accounts attracted in the Busan area in 2025.

Notably, for the exclusive 84㎡B type, 8,830 first-round applicants competed for 24 units, resulting in a record-breaking competition ratio of 349.17 to 1. Building on this momentum, 'Seomyeon Summit The New' also benefited from being Daewoo Engineering & Construction's high-end brand, and its outstanding product quality contributed to its subscription success.

A real estate expert commented, "Although the subscription market in Busan has been stagnant for a long period, high-end complexes are attracting consumers based on brand premium and excellent product quality. Recently, as Daewoo Engineering & Construction's high-end Summit brand has consecutively succeeded in Busan, it has proven that high-end complexes with excellent locations and product quality can succeed regardless of the overall market situation."

In fact, 'Seomyeon Summit The New' leveraged its high-end features to attract the most attention among complexes launched in the region during the same period, achieving significant success.

A representative from the sales team stated, "The subscription success of Seomyeon Summit The New within the Seomyeon area demonstrates how much consumers in downtown Busan have been waiting for a high-end apartment. With its rarity and differentiated product value, Seomyeon Summit The New is highly likely to establish itself as a landmark representing the region."

Meanwhile, 'Seomyeon Summit The New' will accept document submissions from August 29 (Friday) to September 6 (Saturday), and will conduct official contracts over three days from September 8 (Monday) to September 10 (Wednesday). The model house is located at 'Summit Gallery Seomyeon' near Haeundae Station, and move-in is scheduled for April 2031.

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