Asan, South Chungcheong Province, led the local subscription competition rate in 2024. It is analyzed that while the wait-and-see attitude in the real estate market continues, good news is continuing by overcoming the crisis and recording a high subscription competition rate.
According to Real Estate R114, a total of 6 complexes submitted subscriptions in Asan last year, with an average of 22.34 to 1 for first place. This is higher than the regional average of 6.34 to 1 as well as the metropolitan area average of 18.54 to 1.
Population and births increase… There are plenty of quality jobs
The industry believes that the reason for the surge in subscriptions for Asan real estate is due to a combination of strong demand and preference for new construction. According to Asan City Hall, Asan City’s population was 393,002 as of the end of November 2024. In particular, based on statistics from the Ministry of Public Administration and Security, the population growth rate was the highest among local governments at 11.7% compared to three years ago (December 2021). The growth rate was high compared to major cities with dense administrative agencies, such as Sejong City (5.0%) and Wonju City (1.2%), and it was also noticeable that it exceeded the growth rate of Gangnam-gu (4.6%), which was the only district in Seoul whose population increased during the same period. In addition, with a population of 400,000. Asan City is a city with a large young population. According to the Ministry of Public Administration and Security, the proportion of the registered population aged 65 or older in Korea has surpassed 20% for the first time, making the country a ‘super-aging society’. On the other hand, Asan City had 15% of the population aged 65 or older, and Cheonan City had 14%, showing a high proportion of young people compared to the national average.
The number of births in Asan is also increasing. According to Asan City, the number of births in Asan City from January to November last year was 2,029, which is 185 more than the number of births (1,844) in the same period last year, boasting the second largest increase in births after Daegu and Jung-gu (191). While low birth rates have emerged as a social problem, Asan City is said to have established a good foundation for a virtuous cycle, with the birth rate actually increasing.
The average age is 41.8 years as of November 2024, which is lower than the national average of 45.3 years and younger than the average. In particular, in the case of Tangjeong-myeon, the average age was 33.3 years old, which was the lowest even within Asan City.
Ultimately, this is believed to be because there are many high-quality jobs. In particular, it is analyzed that people flocked there in large numbers due to the large number of major jobs held at Samsung. According to Asan City data, the total number of businesses as of the end of 2022 was 35,938, an increase of 3.3% compared to 2021 (34,775).
Asan real estate outlook “bright” in 2025
Asan real estate is expected to continue its boom in 2025. First of all, it is expected that if the Bank of Korea further reduces the base interest rate, funds for purchasing houses will decrease further. In addition, with the development of large-scale residential complexes in Asan City, such as Asan New Town Central City and Asan Tangjeong 2, it is expected that regional value will increase significantly and demand for real estate will increase due to additional infrastructure expansion.
As the number of sales nationwide decreases, the scarcity of new sales is expected to increase. According to real estate R114 data, the total number of new homes scheduled to be sold nationwide this year is expected to be 146,000, a decrease of more than 20,000 from the 172,000 in 2010, when the volume was the lowest ever. In particular, in Asan City, the development of major residential areas such as Tangjeong and Buldang is in the final stage, and sales in key areas called ‘yolk land’ are almost completed through urban development projects, so it is expected that the scarcity of new sales will be higher than in other regions. all.
As proof of this, Asantangjeongjai First City, a representative landmark complex in the region, received first-priority applications on December 20, and 8,394 people applied for 417 households (excluding special supply), recording an average competition rate of 20.13 to 1. . The highest competition rate was 137.67 to 1 with 413 people flocking to 3 PA type households with an exclusive area of 125㎡, which is a penthouse. Following this, the exclusive 125㎡PB 104.50 to 1, 84㎡A 22.16 to 1, and 59㎡A 8.94 to 1 also showed fierce competition.
A sales official said, “Asan Tangjeongjai First City is a sale that goes beyond simply forming a large-scale residential complex and signifies the birth of a city connecting Buldang District, Asan New Town Central City, and Asan Tangjeong 2, which seems to have led to an excellent subscription competition rate.” He said, “We also believe that the contract will proceed smoothly as it forms a large-scale self-branded town with approximately 3,673 households and has symbolism commensurate with its size.”
Tangjeong-myeon, where the complex will be built, meets the legal requirements for establishing a town due to continuous population growth and urbanization, and received final approval for the establishment of Tangjeong-eup from the Ministry of the Interior and Safety on the 12th. The procedure for enacting related ordinances will be promoted and promulgated around April next year, and in the first half of the year. An opening ceremony will be held.
Meanwhile, Asan Tangjeongjai First City, constructed by GS Engineering & Construction, is scheduled to enter into a contract with the winner from January 10 to 12, 2025. As the first supply within the Asan New Town Central City urban development project to be built in the Dongsan-ri area of Tangjeong-myeon, Asan City, a total of 3,673 households are scheduled to be built in 3 blocks (A1, A2, A3) in the area, and this Asan Tangjeongjai First City A1 Block (2nd basement level ~ 35 floors above ground, 6 buildings in total) 797 households (exclusive area) It is scheduled to be supplied sequentially, starting with 59·84·125㎡). Move-in is scheduled for the second half of 2027.
Reporter Hwang So-young, Donga.com [email protected]
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