'Bundang New-Build Premium' Proves True... The Sharp Bundang Tier One Achieves 100-to-1 Subscription Success [Real Estate AtoZ]

4721 Applicants for 47 Units at The Sharp Bundang Tier One in Jeongja-dong
Strong Demand Despite High Pre-sale Prices
No Restrictions on Multiple Wins or Residency Due to Pre-October 15 Approval
20 Minutes to Gangnam, Top Schools, Major Offices... Location and Conditions Drive Success
A Case That Confirms Bundang’s Pent-up Demand for New Builds

The Sharp Bundang Tier One (Neuti Village Complex 3 Remodeling) in Jeongja-dong, Bundang-gu, Seongnam, Gyeonggi Province, achieved a successful outcome in its first-round subscription, recording an average competition rate of 100.4 to 1. Despite controversies over its high pre-sale prices, the strong demand confirmed the heated market interest in new housing supply in Bundang.

The Sharp Bundang Tier One Rendering. POSCO E&C.

According to the Korea Real Estate Board’s Cheongyak Home on November 12, a total of 4,721 people applied for the 47 units offered for general sale in the first-round subscription held the previous day, resulting in all unit types being fully subscribed. Every floor plan recorded a competition rate exceeding 30 to 1, with the 84.69-square-meter type reaching the highest at 169 to 1. This was followed by the 84.95-square-meter type at 148.4 to 1, the 66-square-meter type at 125.2 to 1, and the 84.7-square-meter type at 82.5 to 1.

The highest pre-sale price for the 84-square-meter unit at The Sharp Bundang Tier One is 2,684,000,000 won. The 74-square-meter unit is priced at 2,318,000,000 won, and the 66-square-meter unit at 1,974,000,000 won. While many voiced concerns that these prices are "too expensive for Bundang," especially as they are on par with those of Raemian Trini One in Banpo, Seoul, which held subscriptions during the same period, the outcome showed overwhelming demand from prospective buyers.

The Sharp Bundang Tier One is the first newly built general sale remodeling project to be supplied in Bundang New Town. The existing Neuti Village Complex 3 (completed in 1994) is being remodeled into a complex with 12 buildings, 3 basement floors to 28 above-ground floors, and a total of 873 units. Of these, 102 units were offered for general sale. In a previous special supply round, about 900 applicants competed for 55 units, resulting in an average competition rate of 16.4 to 1. The complete underground parking and newly established community facilities such as a sky lounge are also seen as factors that attracted demand.

The location is also cited as a major factor driving up competition. The complex is a five-minute walk from Jeongja Station, which serves both the Shinbundang Line and the Suin-Bundang Line, and offers access to Gangnam in about 20 minutes. As a "Chopuma" complex, it includes Shingi Elementary School and Jeongja Middle School within its boundaries, and the Jeongja-dong private education district is within walking distance. Major corporate offices such as Naver and Doosan are nearby, further increasing demand from those seeking proximity to work. The fact that there is virtually no price difference with Parkview (84-square-meter unit, most recent transaction at 2,590,000,000 won), considered a leading complex in Bundang, has led to the assessment that this is "the only new-build premium in Bundang."

Despite the high pre-sale prices, the non-regulated subscription conditions also supported the strong demand. The Sharp Bundang Tier One received its sales approval before the October 15 real estate measures, so pre-regulation subscription standards apply. There are no restrictions on winning multiple times, and there is no obligation to reside in the unit. Any household member is eligible for first-priority subscription, broadening the pool of applicants. However, the resale restriction is based on the criteria for speculative overheated districts (three years), and stricter loan regulations apply for interim and balance payments. The interim loan limit is capped at 40 percent, and for the balance loan, if the appraised value at the time of payment exceeds 2,500,000,000 won, loans are available up to 200,000,000 won.

Meanwhile, The Sharp Bundang Tier One is scheduled to begin construction at the end of next year and is expected to be ready for occupancy in October 2027.

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