New Year Kickoff Sales Battle Among Construction Companies to Determine This Year's Pre-sale Success

Construction Company's First New Year Housing Complex
Impact on Future Project Success
Presented as a Verified Complex

Approximately 50,000 Units Scheduled for Nationwide Sale in January
Record High Volume... High Interest in Major Complexes

Perspective view of 'e-Pyeonhansesang Gapyeong First One' in Gapyeong-gun, Gyeonggi Province (Provided by DL E&C)

[Asia Economy Reporter Lee Chun-hee] As the new year of the Year of the Black Tiger begins, attention is focused on the first housing complexes launched by each construction company. Since the first sale of the year can influence the success or failure of each company's annual business, construction companies are putting great effort into these projects. Additionally, due to the government's stringent pre-sale regulations, most complexes are likely to become 'lottery subscriptions,' attracting high interest from buyers.

In fact, the subscription results for the first pre-sale complexes announced by various construction companies last year were excellent. With the subscription system transferred from the existing Korea Financial Telecommunications & Clearings Institute to the Korea Real Estate Board, full-scale pre-sales began in February. Daewoo E&C and SK Construction's first pre-sale of the year, 'Maegyo Station Prugio SK VIEW' in Suwon, Gyeonggi Province, attracted 156,505 applicants for 1,074 units in the first priority subscription, finishing with a high competition rate of 145.7 to 1. Hanwha Construction's first pre-sale last year, 'Forena Busan Deokcheon' in Buk-gu, Busan, saw 14,920 subscription accounts for 169 units in the first priority subscription, resulting in an average competition rate of 88.3 to 1.

The industry is particularly paying attention to various subscription system changes starting this year. From this month, the eligibility criteria for special supply for newlyweds and first-time homebuyers will be significantly relaxed. The income criteria for newlywed special supply will be eased from the existing monthly average income of 100% (120% for dual-income households) to 130% (140% for dual-income households), and for first-time homebuyers, the criteria will be relaxed to 130% or less for public housing and 160% or less for private housing.

Additionally, the ratio of general supply within special supply is expected to increase from the current 25% to 30%. The first-time homebuyer special supply will also be divided into 70% priority supply and 30% general supply. As the income requirements are relaxed for supply, this is attracting buyers' interest. Furthermore, from the 19th of next month, a residence obligation will be imposed on houses subject to the pre-sale price ceiling system, so complexes launched this month before the system's implementation are expected to receive high attention.

An industry official said, "Despite the government's ongoing regulations, the real estate market's heat is not cooling down, and due to the rental shortage and supply shortage, the pre-sale enthusiasm for the new year is expected to become even hotter. Since the first complexes introduced by each construction company in the new year are key projects leading the year's business, they carry high symbolic value, so it is necessary to keep an eye on these complexes."

Aerial view of 'Hillstate Yongin Dunjeon Station' in Cheoin-gu, Yongin-si, Gyeonggi Province (Provided by Hyundai Engineering & Construction)

According to Real Estate 114 on the 1st, a total of 52,478 units (excluding rental) are scheduled for pre-sale nationwide this month. This is the largest volume since data collection began in 2000, about four times more than the 12,120 units in the same month last year.

DL E&C will launch 'e-Pyeonhansesang Gapyeong First One' in Daegok-ri, Gapyeong-eup, Gapyeong-gun, Gyeonggi Province this month. It consists of 4 buildings, ranging from 3 basement floors to a maximum of 27 floors above ground, with a total of 472 units sized 59 to 84㎡ (exclusive area). While most areas in the metropolitan area are under regulatory control due to government regulations, Gapyeong has not yet been designated as a regulated area, so it is relatively free from various regulations such as subscription, loans, and taxes. The second Gyeongchun Expressway is planned to pass near the complex, and the nearby Gyeongchun Line and ITX make wide-area travel convenient. Using the ITX, it takes about 40 minutes to Cheongnyangni Station in Seoul and about 60 minutes to Yongsan Station.

Hyundai Engineering & Construction will pre-sell 'Hillstate Yongin Dunjeon Station' in Gorim-dong, Cheoin-gu, Yongin City early this month. It consists of 13 buildings ranging from 2 basement floors to a maximum of 29 floors above ground, with a total of 1,721 units sized 59 to 84㎡. It is a station-area complex within walking distance of Dunjeon Station and Bopyeong Station on the Everline light rail, and it takes about 20 minutes to Giheung Station on the Suin-Bundang Line of the metropolitan subway. Additionally, various transportation benefits such as the Metropolitan Area 2nd Ring Expressway and Sejong-Pocheon Expressway are planned around the complex. Hyundai E&C plans to arrange all units mainly facing south to facilitate lighting and ventilation, and provide ample storage space by applying master bedroom dressing rooms.

Hanwha Construction will also pre-sell 'Hanwha Forena Suwon Jangan' in Pajang-dong, Jangan-gu, Suwon City this month. It consists of 11 buildings ranging from 2 basement floors to 27 floors above ground, with a total of 1,063 units sized 64 and 84㎡. The recently opened Suwon Northern Circular Road Pajang IC, Yeongdong Expressway Buk Suwon IC, and Gyeongsu-daero (National Road No. 1) are nearby. Various schools such as Suil Elementary and Middle School, Imok Middle School, Dongwon High School, Dongwoo Girls' High School, and Gyeonggi Science High School are located within about 1 km radius, which is expected to attract high interest from parents.

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