As the recession in apartment subscriptions continued this year, more than half of households that applied for subscriptions were found to have failed to make the first choice.
Real House, a company specializing in pre-sale evaluation, conducted a survey of private pre-sale apartments from 2020 to 2024 on the Korea Real Estate Agency’s subscription website. Among the 115,102 households in general supply (excluding special supply) this year, only 52,403 households, or 45.5%, finished in first place. It turned out that it did. This is a decrease of nearly 30 percentage points compared to 2020 and is the lowest first-place closing rate in the past five years. A first-place finish means that the subscription competition rate exceeds 1 to 1.
Looking at each year, the first-place closing rate was the highest in 2020. In 2020, about 120,000 households, or 76.3% of the total 159,789 households in general supply, filled all of the recruitment households in the first priority. It fell slightly to 75.0% in 2021, but in 2022, when the market was unstable due to the high interest rate trend and the Legoland incident, the first-place closing ratio plummeted to 50.6%. Afterwards, there was a slight recovery in 2023, but this year, there was a significant decline again, with only 45.5% of the supply households filling the recruitment generation in the first place.
Recently, even large first-tier construction companies have been experiencing shortages. In fact, the ‘Sangin Prugio Center Park’ supplied by Daegu Engineering & Construction in Daegu in November and the ‘Inha University Station Prugio Eduforet’ in Michuhol-gu, Incheon failed to close with an average first-place competition rate of 0.03 to 1 and 0.52 to 1, respectively. In addition, ‘Brain City Prugio’, which was sold this month in Jangan-dong, Pyeongtaek-si, Gyeonggi-do, also had 5 out of 6 housing types fall short of first place.
The same goes for ‘e-Pyeonhan World’ and ‘Lotte Castle’. In November, Lotte Engineering & Construction’s ‘Beonyeong-ro Lotte Castle Central Sky’, supplied by Ulsan Metropolitan City, and DL E&C’s ‘e-Pyunhan World Dongincheon Bearfront’ failed to finish in first place, recording low competition rates of 0.39 to 1 and 0.34 to 1, respectively. . And in December, ‘e-Pyeonhansesang Songdo The First Beach’, supplied in Seo-gu, Busan, also showed a serious shortage, with only 53 people applying for first place for the recruitment of 189 households.
By region, Seoul showed strength, recording a high first-place closing rate of 96.2%. Among the 5,261 households supplied to the public in Seoul this year, except for some large types of ‘Forges Han River’ and ‘Seoul One I-Park’ and the 74A type of ‘Yeonsinnae Yangwoonaeanae Firstage’, all complexes filled the recruitment units in the first priority. . After that, Gyeongbuk ranked first with 82.3% of the 2,062 households in general supply, followed by Chungbuk (73.0%), Jeju (72.7%), South Chungcheong (58.4%), Daejeon (53.2%), and Jeonbuk (51.8%). The closing ratio has exceeded half.
Kim Seon-a, head of the Real House analysis team, said, “This year’s subscription market saw a sharp decrease in the first-choice closing ratio as consumer sentiment weakened due to factors such as strengthened loan regulations and the economic downturn.” “As phase implementation is also scheduled, the selective subscription pattern of consumers is expected to become more clear,” he said.
Reporter Hwang So-young, Donga.com [email protected]
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