"Sangdong Station Lotte Castle Signature" Subscription Draws Strong Trade-Up Demand in Jungdong First New Town

Growing Interest in Trading Up to New Apartments
among Jung-dong and Sang-dong New Town Residents


High Proportion of Homeowners among Prospective Buyers



Resale Possible One Year After Selection;
Move-in Scheduled for March 2032,
Favorable for Long-Term Financial Planning

Lotte Engineering & Construction is launching sales for "Sangdong Station Lotte Castle Signature" in Sang-dong, Wonmi-gu, Bucheon-si, Gyeonggi-do, as the main subscription process commences. Due to strong demand for switching to new residences in the region and a high ratio of special supply (44%), it is expected that subscription demand will be focused on the general supply. Since any unsold special supply units are rolled into the general supply pool, opportunities for homeowners and investors are also expected to grow substantially.

On August 14, the model house for Sangdong Station Lotte Castle Signature opened its doors to a steady stream of visitors wishing to assess the location and features of the development first-hand. According to sales consultants, visitors received guidance on a variety of housing types (exclusive areas of 84m², 113m², and 121m²), specialized designs, and community amenities, with a notable number of inquiries from those who already own residential property.

In particular, there is reportedly high interest from homeowners in Jung-dong and Sang-dong, who are considering trading up from older apartments to new construction within the Jungdong New Town area. Jungdong New Town, which was established more than 30 years ago, is currently undergoing old planned city redevelopment by Bucheon-si across a 5.412 km² area of Jung-dong and Sang-dong. Analysts note that the demand to move to newer apartments with less building age, while maintaining one’s existing neighborhood lifestyle, is now being channeled into Sangdong Station Lotte Castle Signature.

Especially in first-phase new towns where existing infrastructure is fully established, newly built homes are seen as particularly valuable for bridging the supply gap caused by the aging of older apartment stock during the course of redevelopment projects.

Consultant A stated, "When consulting with potential buyers who visit the model house, there are many not only among first-time buyers but also among homeowners in the Jung-dong and Sang-dong areas considering trading up to a new apartment. There is significant demand among those seeking to move to a large-scale new development while maintaining their current living area."

Sangdong Station Lotte Castle Signature has allocated 815 out of its total 1,859 units for special supply—about 44% of the total. This includes 185 units for multi-child families, 205 for newlyweds, 96 for first-time buyers, 55 for households supporting elderly parents, 137 for newborns, and 137 for institutional recommendations.

The special supply is available to households meeting defined eligibility requirements and who do not own a home. As such, if a high portion of visitors to the model house already own homes, their interest levels may not be directly reflected in the final special supply subscription results; it is important to note that the applicant pools for special and general supply are fundamentally different.

Another reason for continued interest among homeowners is the general supply subscription conditions. Sangdong Station Lotte Castle Signature allows anyone to apply for general supply regardless of the number of homes they already own, and there are no restrictions for those who have previously won a subscription. To qualify for first priority in the general supply, applicants must have held a subscription savings account for at least 12 months and meet the minimum deposit requirements according to region and exclusive area.

For medium-to-large units with exclusive areas over 85m², all general supply units are allocated by lottery. For units of 113m², 121m², and the penthouse, the point-based system is not applied, so those with lower scores or those wishing to trade up from their current homes can still hope for selection.

For the 84m² units as well, 60% of the general supply is distributed by lottery. Of these lottery units, 75% are given priority to non-homeowning households, with the remaining supply afterwards allocated via a phased lottery to applicants who are either non-homeowners or households owning one home.

Transfer restrictions and payment schedules are also factors attracting interest among current homeowners. The down payment is 5% of the unit price, with a fixed payment of 10 million won for the first contract payment. Balcony extension is provided free of charge.

The restriction on transferring ownership lasts one year from the announcement of successful applicants, and the first intermediate payment is scheduled for October 2027. Move-in is planned for March 2032, giving homeowners considering a trade-up ample time to consider the timing and financial arrangements for selling their existing property.

Consultant B commented, "Homeowner customers are often interested not just in whether the lottery applies to larger units, but also in factors such as the period of ownership transfer restrictions, the timing of intermediate payments, and the expected move-in date. With differences in eligibility and selection methods between special and general supply, the level of interest observed at the model house could be reflected differently in the subsequent general supply process," she explained.

The massive scale of Sangdong Station Lotte Castle Signature within the lifestyle area of Jungdong New Town is also noteworthy. For residents highly satisfied with their current neighborhood, the ability to access schools, shopping, medical services, and parks while moving into a newly constructed apartment can help stimulate further demand to trade up.

The complex will comprise 7 buildings with 8 basement and 49 aboveground floors, exclusive areas from 84 to 192m², totaling 1,859 units. It offers convenient access to Sang-dong Station on subway line 7 (exit 1) and is within reach of Jungdong branch of Hyundai Department Store, Bucheon branch of NewCore Outlet, Jungdong branch of Lotte Department Store, Soonchunhyang University Bucheon Hospital, Bucheon City Hall, and Sang-dong Lake Park, allowing residents to leverage the full infrastructure of Jungdong New Town.

Product features that differentiate new construction from existing apartment complexes also serve to attract those looking to trade up. Sangdong Station Lotte Castle Signature has raised the standard ceiling height to 2.4 meters, with tray ceilings as high as 2.55 meters for a greater sense of openness. Some units feature three-sided balconies, expansive kitchens, pantries, multipurpose rooms, and dressing rooms for enhanced functionality. Parking space is provided at a ratio of 1.55 vehicles per unit, with parking bay widths of 2.5 meters for standard spaces and up to 2.6 meters for expanded bays to ensure convenience. In addition, every unit comes with a private storage room for seasonal or bulky household items.

Community amenities include an indoor swimming pool, indoor golf club, sauna, fitness club, and guest rooms. The approximately 660m² reading room, designed with over 140 seats, will also introduce the study management system "Green Lamp Library."

The subscription schedule begins with special supply on August 24, followed by first priority on August 25 and second priority on August 26. Winners will be announced on September 1, and formal contract signing will be held over four days from September 14 to 17. The model house is located in Sang-dong, Wonmi-gu, Bucheon-si, Gyeonggi-do.

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