In the first half of this year, nearly half of the apartment complexes in Gyeonggi Province saw shortfalls in first-round applications, while popular complexes recorded high application competition rates. Following the government's June 27 household debt measures announcement, concerns have arisen that polarization will deepen in the second half.
According to the Korea Real Estate Board (REB) application home on the 13th, in Gyeonggi Province during the first half of this year (January to June), a total of 11,124 households were募集 across 25 complexes in 14 regions with 60,607 applications submitted, achieving an average application competition rate of 5.9 to 1. Among these, 6 regions recorded shortfalls in first-round applications and could not fill the applicants.
The region with the lowest competition rate was Anseong City, where the single complex at Anseong Ayang District B-3-1BL, had a first-round application competition rate of 0.01 to 1 (282 households募集, 3 applications submitted), falling short in all types. Following were Yeoju City (0.12 to 1), Suwon City (0.22 to 1), Yongin City (0.46 to 1), Ganghwa County (0.64 to 1), Yangju City (0.72 to 1), and Gimpo City (0.76 to 1).
Suwon conducted applications at the single complex 'Buk-Suwon Imok District Dieter The Riche II.' Although supplied on public land, it fell short in first-round applications due to a high sale price compared to nearby market prices. The complex was priced at a maximum of 1.14 billion won based on a 84㎡ standard, evaluated as high compared to nearby complexes, achieving only 364 applications for 1,678 households募集 in the first round.
Yongin conducted applications in three complexes, including 'Yongin Prugio One Cluster 2 and 3' and 'Hillstate Yongin Mark Valley' in Cheoin-gu. With a sale price significantly higher than the market rate, and given that Cheoin-gu is considered an unpopular area in Yongin, all three complexes experienced shortfalls in first-round applications as large-volume projects were offered.
According to a representative from an A-certified real estate office in Cheoin-gu, Yongin, 'There were quite a few inquiries during the sale, but due to the high sale price, even the inquiring buyers did not actively express purchase intentions,' adding, 'The situation in Gyeonggi Province is quite poor, and the market is stagnant, resulting in a quiet neighborhood atmosphere. It seems that the application market was also tough, as there is no infrastructure as developed as in Dongtan.'
In contrast, Hwaseong, which has good accessibility to Seoul and conducted sales in public land in Dongtan New Town, recorded high application competition rates.
In Uiwang, a single complex 'Jeil Pung gyeong Chae Uiwang Go-cheon' had 3560 applications submitted for 165募集, resulting in a competition rate of 21.6 to 1. The price ceiling system was applied, and because it was a later sale complex, expedited occupancy was possible, receiving positive evaluations. Additionally, the proximity to main public institutions such as the Uiwang City Hall and good accessibility to Seoul were also strengths.
Hwaseong conducted applications in two complexes, including 'Dongtan Fore Park Nature & Prugio' and 'Dongtan Dream Forest Nature & Desian,' achieving an average competition rate of 57.9 to 1 in the first round. Notably, 'Dongtan Fore Park Nature & Prugio' saw 26,372 applications submitted for 351募集, recording a high competition rate of 75.1 to 1.
Experts project that polarization will deepen in the second half as restrictions on household mortgage loans and other housing loans are implemented following the June 27 real estate lending regulations. Go Jun-seok, head professor at Yonsei University's Sangnam Business School, noted, 'A supply shortage in Seoul is expected, and with lending regulations being enforced, demand is likely to be dispersed into the metropolitan area. However, as it becomes more difficult to buy a home due to lending restrictions, the trend of selective applications will strengthen, concentrating demand in areas with good accessibility to Seoul and well-established transport and living infrastructure. Areas lacking those already face unsold inventories and are unlikely to resolve this, thereby exacerbating polarization.'