Sejong’s appearance… The national average subscription competition rate is 7.6 to 1
Busan 37.4 to 1… Sejong 36.8 to 1
Last year, the average apartment subscription competition rate nationwide showed a single digit for the first time in eight years, and apartments with an average competition rate of 164 to 1 appeared in Sejong. Buying sentiment has contracted due to steep interest rate hikes and rises in pre-sale prices, but it seems that the success of pre-sale is divided depending on the strengths of each region.
On the 22nd, Real Estate R114 investigated the average subscription competition rate (1st to 2nd ranks) of new pre-sale apartments nationwide in 2022, and the subscription volume last year was 227,369 households, and the average competition rate was 7.6 to 1. The subscription volume is similar to that of 2020 (223,106 households), but the competition rate (27.9 in 2022) is more than three times higher. It is the first time in eight years since 2014 (7.5 to 1) that the national average subscription competition rate has fallen to single digits.
By region, Busan recorded 37.4 to 1, showing the fiercest competition rate in the country. Demands flocked to large complexes with more than 2,000 households, which are rare in the province, and public housing land sales, and complexes with infrastructure facilities and waterside views. As the area subject to adjustment was lifted in September of last year, the effect of non-regulation also worked as a favorable factor.
It was followed by 36.8 to 1 in Sejong, 14.5 to 1 in Incheon, and 11 to 1 in Daejeon, and Seoul, Gyeongnam, and Gyeongbuk showed a competition rate of regarding 10 to 1. In Sejong, 13,779 cases (84 general sales households) flocked to the public sale of ‘Elf Sejong 6-3M4 Block’ in Sanul-dong, recording an average competition rate of 164:1. On the other hand, Daegu and Ulsan showed low competition rates of 0.5 to 1 and 0.9 to 1, respectively.
Baek Sae-rom, Senior Researcher at Real Estate R114, said, “Last year, 9 out of the top 20 complexes in the apartment subscription competition rate were those to which the sale price ceiling was applied, and 8 complexes were sold through redevelopment and reconstruction projects.” “Even in the face of a real estate market crunch, there has been a tendency for demand to be supplied at a lower price compared to the market price or for expectations of an increase in future value,” he explained.
