Actual Demand Heading to Incheon... ePyeonhansesang Bupyeong Grand Hills to Be Launched This Month

Real Buyers Prefer Incheon for Home Ownership at Reasonable Prices
Year-End's Biggest Sale: ePyeonhansesang Bupyeong Granghills in Focus

As a result of the government's June 17 real estate measures, most areas in Incheon were designated as speculative overheating districts and regulated areas. Nevertheless, the Incheon housing market appears to be sailing smoothly. Due to high housing prices in Seoul and major metropolitan areas, making it difficult to own a home, actual demand buyers are flocking to Incheon, where the sale prices are reasonable.

In fact, before the June 17 measures, subscription rates in Incheon were very high. Prior to the government's announcement, in April, Geomdan New Town Umirin Ecoview recorded an average competition rate of 27.21 to 1, and in June, Geomam Station Royal City Prugio showed an average competition rate of 30.74 to 1.

However, after the June 17 measures were announced, subscription rates somewhat declined. Before the designation as a regulated area, the final offerings of Gajaeul Station Truel Ecocity and Juan Park Xi The Platinum had average subscription competition rates of only 9.4 to 1 and 12.9 to 1, respectively.

Moreover, after the June 17 measures, subscription rates noticeably dropped. Brownstone Bupyeong, which was offered in August, attracted 1,908 applicants for 304 general supply units, showing an average competition rate of 6.28 to 1. The second phase of Unseo SK VIEW Skycity in Yeongjongdo had 1,108 applicants for 814 general supply units, resulting in an average competition rate of only 1.36 to 1.

However, this decline was due to the government's announcement restricting subscription eligibility to household members only, and it was not because demand buyers lost interest in the Incheon housing market itself.

For Gajaeul Station Truel Ecocity and Juan Park Xi The Platinum, subsequent non-priority subscriptions recorded high competition rates of 11.6 to 1 and 35.1 to 1 on average, respectively, continuing to attract strong interest from buyers. In particular, Brownstone Bupyeong completed 100% contracts with an average competition rate of 135.8 to 1 in the non-priority subscription, completely alleviating such concerns. Even the second phase of Unseo SK VIEW Skycity has already completed over 80% of contracts.

Real estate experts agree that before the real estate measures, Incheon was a non-regulated area attracting investment forces, making it difficult to win subscriptions due to excessive competition rates. However, after the June 17 measures, the market was reorganized around actual demand buyers, so although subscription competition rates are lower, the initial contract rate remains high due to the level of regulation.

Reasonable sale prices also play a role in the popularity of the Incheon real estate market. Incheon is a high-price management area, offering price competitiveness compared to surrounding market prices, which is expected to provide stable capital gains. In fact, checking Incheon sale prices from January to November revealed an average sale price of 15.74 million KRW per 3.3㎡. This is 12.27 million KRW cheaper than the average sale price of 28.01 million KRW per 3.3㎡ in Seoul during the same period.

A representative from B Real Estate Agency in Bupyeong-gu, Incheon, said, “Although there were many concerns about the sale market after the June 17 measures, actual demand buyers are rather leading the market. Especially in Incheon, sale prices are stable, and commuting to Seoul is convenient, making it highly popular among young demand buyers eager to own their first home.”

Meanwhile, Daelim Industrial has attracted public attention by announcing a new sale in Incheon this month. The project is ‘e-Pyeonhansesang Bupyeong Grand Hills,’ a large complex with 5,050 households across 31 buildings from three basement floors to 43 floors above ground, located in Cheongcheon-dong, Bupyeong-gu, Incheon.

Of these, 2,902 units will be offered for general sale, mostly small types with exclusive areas of 59㎡, expected to be highly preferred by actual demand buyers such as newlywed couples without homes who have found it difficult to purchase housing due to burdensome prices.

The housing exhibition hall is scheduled to open this month at 90-1 Pyeongcheon-ro, Bupyeong-gu, Incheon (next to Cheongcheon Elementary School).

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