The competition ratio for special supply of 'Ohtier Fore' in Seongdong District, Seoul, unaffected by the household debt measures introduced on June 27, has shown an average of over 200 to 1.
According to the Korea Real Estate Board (REB) on the 8th, the special supply subscription for Ohtier Fore held the previous day saw applications totaling 11,181 for 48 households (excluding candidates recommended by institutions), marking an average competition ratio of 232.9 to 1.
For the dedicated area types, the 84.99㎡ type A attracted 1,355 applicants for 4 units, resulting in a competition rate of 338.8 to 1. Following that, 49.88㎡ (300.7 to 1), 39.96㎡ (285.7 to 1), and 59.96㎡ type A (239.3 to 1) had high competition ratios in succession.
Ohtier Fore is a complex developed by POSCO in Seongdong District, located at 656-421, Seongsu-dong 1-ga, featuring 287 units (88 units for general sale) within a scale of 3 underground levels to 20 above-ground levels, across 3 buildings.
The price per pyeong (3.3㎥) exceeds 70 million won, and the so-called 'nationally recognized size' of 84㎡ is priced at around 2.4 billion won, which is considered high.
However, considering that an 84㎡ unit at 'Seoul Forest I-Park River Fore Phase 1' (completed last December) was traded last month for 3.49 billion won, it is assessed to be over 1 billion won cheaper than the market price.
This apartment project issued its recruitment notice on the 27th of last month, a day before the enforcement date of the so-called 'household debt measures' limiting housing mortgage loans to under 600 million won (effective June 28), thereby avoiding regulation.
With the rise in the Gangnam area, the recent surge in housing prices in Seongdong District, coupled with evading the household debt measures, has led to an influx of actual demand.
Meanwhile, on the same day, alongside Ohtier Fore, the special supply subscription for 'Riverscent Prugio Weave' in Yeongdeungpo District, also unaffected by the household debt measures, received 8,066 applications for 92 households, recording an average competition ratio of 87.7 to 1.