‘Songdo Jaipungyeongchae Granoble’, Over 4,000 Applicants for First Priority Subscription

원본보기 아이콘

On the 12th, the first-priority subscription for ‘Songdo Jaipungyeongchae Grenoble’ in Incheon attracted around 4,000 subscription accounts, receiving positive evaluations for its strong performance. This is because less than 20% of the complexes launched this year have attracted more than 4,000 first-priority subscription accounts.

According to data from the Subscription Home as of March 12 this year, out of a total of 64 sites that received first-priority subscriptions, 11 sites received more than 4,000 subscription accounts, accounting for about 17% of the total. Notably, subscription accounts were concentrated mainly on flagship complexes representing their regions, such as ‘Maple JaI’, ‘Songdo Jaipungyeongchae Grenoble’, ‘Seoshin The Sharp Vivaldi’, and ‘The Sharp Tangjeong Infinity City’.

In particular, the total number of subscription accounts collected at the 11 sites with more than 4,000 accounts was 164,891, about seven times more than the 23,889 accounts received at the remaining 53 sites. Although the competition rate is lower compared to the peak market conditions of 2020-2021, attracting around 4,000 subscription accounts in a sluggish market is considered a successful subscription performance.

Moreover, in the first-priority subscription for ‘Songdo Jaipungyeongchae Grenoble’, 2,916 accounts were submitted by local applicants residing in Incheon, accounting for 72% of all first-priority subscribers. It is analyzed that local residents were highly attracted due to the excellent residential environment and future value recognized within Songdo. In contrast, the previously supplied ‘Hillstate Lake Songdo 4th’ had a local first-priority subscription rate of only 47%, while Songdo Lux Ocean SK View and The Sharp Songdo Arc Bay accounted for 43% and 36%, respectively.

A real estate official said, “Even if the subscription competition rate is somewhat low depending on the size of the complex, evaluations should be based on the actual number of subscribers who submitted subscription accounts, considering the cooling market atmosphere.” He added, “Especially, the fact that thousands of subscription accounts were concentrated even during the real estate downturn can be interpreted as reflecting expectations for higher value appreciation compared to other complexes during the future market recovery.”

Meanwhile, ‘Songdo Jaipungyeongchae Grenoble’, which received more than 4,000 first-priority subscription accounts, will proceed with the second-priority apartment subscription on the 13th. The announcement of winners will be on March 20 (Wednesday) for complexes 1 and 2, and March 21 (Thursday) for complexes 3, 4, and 5. The official contract signing for winners will take place over seven days from April 1 (Monday) to April 7 (Sunday).

The payment terms include a 10% down payment split into two installments, with the first installment being 5%, reducing the initial financial burden. The resale restriction before sale is six months, and all types offer free balcony expansion benefits.

The subscription schedule for officetels in complexes 3 and 5 is as follows: subscription reception on March 14 (Thursday), winner announcement on March 19 (Tuesday), and winner contract signing over two days from March 20 (Wednesday) to March 21 (Thursday). Each individual can apply for up to two units, one per complex. For officetels, there is no resale restriction (upon full payment of the down payment), and financial benefits such as 60% interest-free intermediate payments are provided.

Songdo Jaipungyeongchae Grenoble is a project integrating five complexes, making it the largest scale development within Songdo District 11. It consists of 23 buildings (21 apartment buildings and 2 officetel buildings) ranging from two basement floors to a maximum of 47 floors above ground, totaling 3,270 households: 2,728 apartments with exclusive areas of 84 to 208㎡ and 542 officetel units with exclusive areas of 39㎡.

‘Songdo Jaipungyeongchae Grenoble’ is located at the core of the green infrastructure of Songdo District 11, the waterfront area, providing a pleasant residential environment. In particular, some units offer permanent waterfront views.

Excellent educational and living infrastructure is also one of the complex’s strengths. It is adjacent to Yonsei University International Campus and Incheon Global Campus (hosting New York State University, George Mason University, Ghent University, University of Utah), and the Inha University Open Innovation Campus (Inha University Songdo Campus) is located next to the site. Within walking distance, the 800-bed Songdo Severance Hospital began construction in December 2022 and is currently under construction. Large shopping facilities such as Homeplus, Hyundai Premium Outlet (Songdo branch), and Triple Street are also conveniently accessible.

The transportation network is also favorable. It is easy to access Aam-daero, which connects to the 2nd Gyeongin Expressway, 3rd Gyeongin Expressway, and Yeongdong Expressway via Incheon New Port Road and Songdo Bio Road. Using Songdo Science Road, it is easy to move throughout Songdo.

The model house for ‘Songdo Jaipungyeongchae Grenoble’ is located in Songdo-dong, Yeonsu-gu, Incheon.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.