by Choi Bongseok
Published 27 Oct.2025 09:00(KST)
As apartment prices continue to skyrocket, demand is surging for price-capped apartments, known as "pre-sale price ceiling system" (bunsangje) apartments, which are relatively more affordable. In particular, following the recent implementation of the "10·15 Real Estate Measures," attention from both homebuyers and investors is focusing on bunsangje apartments in the Seoul metropolitan area, which are free from strict regulations.
The "pre-sale price ceiling system" is a policy that limits the sale price of new apartments to a level not exceeding the sum of land acquisition costs and standard construction costs. The government introduced this system to curb excessive increases in apartment prices and to ease the burden of homeownership for people without homes. The price ceiling applies to private land in areas where housing prices and subscription competition rates are rising excessively, raising concerns about speculative overheating, as well as to all public housing sites nationwide.
The main reason buyers are flocking to bunsangje apartments is their price competitiveness. These apartments are often referred to as "lottery apartments" because they are sold at prices lower than the surrounding market rates, allowing those who win the subscription lottery to potentially gain tens of millions of won in capital gains.
The popularity of bunsangje apartments has grown even further recently, as construction costs-including building materials and labor-have risen sharply, causing overall apartment prices to soar. In fact, apartment pre-sale prices have been climbing without pause. According to the Housing and Urban Guarantee Corporation (HUG), as of the end of September, the average pre-sale price per square meter for private apartments nationwide was 5,906,000 won, up 3.77% from the same month last year. Real Estate 114 reports that the nationwide average pre-sale price per 3.3 square meters (excluding rental apartments) was 9.85 million won in 2015, 13.95 million won in 2020, 18.04 million won in 2023, 20.24 million won in 2024, and 21.31 million won as of September 30, 2025. This represents an approximately 2.2-fold increase over the past 10 years.
With apartment prices continuing to rise, buyers are increasingly turning to bunsangje apartments. According to the Korea Real Estate Board's subscription portal, in May, "Dongtan Dream Forest Jayeon & Daesang" in Dongtan 2 New Town attracted 12,315 applicants for 294 units (excluding special supply), resulting in an average subscription competition rate of 41.88 to 1. In June, "Pyeongtaek Godeok Geumseong Baekjo Yemiji" in Pyeongtaek Godeok New Town received 1,060 first-priority applications for 261 units, recording a competition rate of 4.06 to 1.
Industry experts predict that the trend toward bunsangje apartments will continue. They expect apartment prices to keep rising this year due to ongoing increases in construction and building material costs. Amid this trend, bunsangje apartments scheduled for sale in the second half of the year are drawing particular attention. For example, HL D&I Halla Co., Ltd. will launch 470 units of "Seosuwon Epyt Centralmark" in the Dangsu Public Housing District, Gwonseon-gu, Suwon Special City, in November.
"Seosuwon Epyt Centralmark," located in the heart of the Suwon Dangsu Public Housing District on blocks M1 and M2, will consist of two blocks. The M1 block will feature two buildings with 25 floors above ground and two basement levels, comprising 94 units of type 74, 48 units of type 84A, and 48 units of type 103A. The M2 block will have three buildings with 25 floors above ground and two basement levels, including 91 units of type 74, 71 units of type 84A, 48 units of type 84B, 23 units of type 103A, 46 units of type 103B, and 1 unit of type 117. The total supply will be 470 units.
The Suwon Dangsu District is a public housing area of approximately 950,000 square meters being developed in the Dangsu-dong area of Gwonseon-gu, Suwon Special City. Once completed, it will accommodate over 7,800 apartment units and around 19,000 residents.
This district will be integrated with the Suwon Dangsu 2 District to the west and the Suwon Homaesil District to the south, forming a single living zone. As a result, the area will be transformed into a new city with more than 33,000 apartment units and a population capacity of around 87,000. This will make Suwon Dangsu District a new residential hub and a growth engine for western Suwon. In terms of apartment supply, it will surpass Gwanggyo New Town, making it one of the largest housing districts in the region.
Notably, Suwon Dangsu District has been excluded from the "10·15 Real Estate Measures" regulatory targets, drawing attention from genuine homebuyers. On October 15, the government designated all of Seoul and 12 areas in Gyeonggi Province as regulated areas, speculative overheating zones, and land transaction permit zones simultaneously. In addition to this "triple regulation," lending restrictions have also been tightened.
As a result, areas such as Hwaseong Dongtan New Town and Suwon Dangsu District in Gwonseon-gu, which are not subject to these regulations, are expected to see increased demand, and market sentiment is improving.
"Seosuwon Epyt Centralmark," located at the center of Suwon Dangsu District, boasts an outstanding location. First, it offers an extensive transportation network. The Pyeongtaek-Paju Expressway (Suwon-Gwangmyeong) and Gwacheon-Bongdam Expressway are nearby, providing easy access not only to Seoul and the Gyeonggi area but also to destinations nationwide.
Most notably, the Shinbundang Line (Homaesil-Gwanggyo section) is scheduled to be extended and opened in 2029, further improving access to major cities in Seoul and Gyeonggi Province. Once the Shinbundang Line is completed, travel time to Seoul's Gangnam district will be reduced to around 40 minutes, making commuting to Seoul much more convenient.
Another major advantage is the ongoing development of high-tech industrial complexes around the Dangsu District. Projects such as the "Suwon R&D Science Park" and "Tapdong Innovation Valley" are progressing rapidly, and there are ambitious plans to designate these two industrial complexes as the "Suwon Free Economic Zone."
The core goal is to establish an R&D infrastructure where advanced corporate research institutes and venture companies coexist, creating a high-tech industrial complex focused on research and development in fields such as semiconductors, biotechnology, and artificial intelligence (AI), ultimately transforming the area into a "Korean-style Silicon Valley." Through this, approximately 89,000 quality jobs are expected to be created.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.